David Brereton and joint actor dispose of Tecsys shares

MONTRÉAL, Dec. 6, 2023 /CNW/ - On December 5, 2023, David Brereton, Executive Chairman of Tecsys Inc. ("Tecsys") donated and sold, directly and through his holding company, Dabre Inc. ("Dabre"), an aggregate of 120,000 common shares of Tecsys ("Shares"), and Ms. Kathryn Ensign-Brereton, Mr. Brereton's spouse, donated and sold an aggregate of 30,000 Shares (collectively, the "Dispositions"). The Shares by Mr. Brereton, Dabre and Ms. Ensign-Brereton were sold through the facilities of the Toronto Stock Exchange ("TSX") at a price of $31.07 per Share, for aggregate gross proceeds realized from the sale of Shares on the TSX of approximately $3,417,700. 

Immediately prior to the Dispositions, Mr. Brereton beneficially owned, directly and through Dabre, an aggregate of 1,037,038 Shares, and options (the "Options") to purchase 178,228 Shares pursuant to Tecsys' stock option plan, and Ms. Kathryn Ensign-Brereton beneficially owned 1,029,102 Shares. Together, they beneficially owned an aggregate of 2,066,140 Shares and Options to purchase 178,228 Shares, representing 14.04% of the 14,711,386 issued and outstanding Shares on a non-diluted basis, and 15.07% of the issued and outstanding Shares on a partially-diluted basis, assuming exercise of the Options held by Mr. Brereton only.

Following the Dispositions, Mr. Brereton beneficially owns, directly and through Dabre, an aggregate of 917,038 Shares and Options to purchase 178,228 Shares, and Ms. Ensign-Brereton beneficially owns 999,102 Shares. Together, they beneficially own an aggregate of 1,916,140 Shares and Options to purchase 178,228 Shares, representing 13.02% of the 14,711,386 issued and outstanding Shares on a non-diluted basis, and 14.07% of the issued and outstanding Shares on a partially-diluted basis, assuming exercise of the Options held by Mr. Brereton only.

As Executive Chairman of the board of directors and, together with Ms. Ensign-Brereton, the largest shareholder of Tecsys, Mr. Brereton is and will continue to be actively involved in Tecsys' business. The Shares beneficially owned by Mr. Brereton and Ms. Ensign-Brereton are held for investment purposes. Each of them intends to review on a continuing basis his or her investment in Tecsys and may, depending on market and other conditions, increase or decrease his or her beneficial ownership of securities of Tecsys through market transactions, private agreements, public offerings or otherwise.

An early warning report relating to this transaction will be filed on SEDAR+ under Tecsys' profile at www.sedarplus.ca. To obtain a copy of such report, please contact Ms. Sandra Spackman at [phone].

SOURCE David Brereton