/NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSIRE SERVICES AND NOT FOR DISSEMINIATON IN THE UNITED STATES/
MONTREAL, March 22, 2023 /CNW/ - Mr. Paul Raymond, President and Chief Executive Officer of Alithya Group inc. ("Alithya"), filed today an early warning report with respect to his holding of Class B multiple voting shares ("Class B Shares") of Alithya, as required by applicable securities laws.
On March 22, 2023, Mr. Raymond acquired 152,632 Class B Shares of Alithya pursuant to the exercise of 152,632 options to purchase Class B Shares that were set to expire on March 31, 2023 (the "Exercise"). The options originate from options granted prior to the date Alithya went public and which were converted, on substantially the same terms and conditions as were applicable under the amended and restated 2011 stock option plan, into options to acquire Class B Shares of Alithya on November 1, 2018. 100,000 options had an exercise price of $2.46 per option and 52,632 options had an exercise price of $1.90 per option, for a total aggregate exercise price of $346,000.80. Mr. Raymond decided to fund the exercise price payable in connection with the Exercise through available funds and not to avail himself of the previously filed Form 45-102F1 – Notice of Intention to Distribute Securities under Section 2.8 of NI 45-102 – Resale of Securities, to sell Class A subordinate voting shares ("Class A Shares"). As a result of the Exercise, Mr. Raymond's voting rights, which were of 4.72%, increased to 5.63%.
On March 22, 2023, before completion of the Exercise, a total of 7,171,616 Class B Shares and 87,889,081 Class A Shares were issued and outstanding. Mr. Raymond beneficially owned and controlled 152,632 Class B Shares (representing 2.13% of the issued and outstanding Class B Shares) and he controlled, and Fiducie Direxions ("Direxions") owned, 571,832 Class B Shares (representing 7.97% of the issued and outstanding Class B Shares). This represented, in aggregate (the "Total Class B Ownership"), 724,464 Class B Shares (representing 10.10% of the issued and outstanding Class B Shares).
Following completion of the Exercise, 152,632 Class B Shares, representing 2.08% of the issued and outstanding Class B Shares, were issued to Mr. Raymond, resulting in a Total Class B Ownership of 877,096 Class B Shares (representing 11.98% of the issued and outstanding Class B Shares).
In addition, Mr. Raymond beneficially owns and controls (a) 505,264 options to purchase Class B Shares (all of which are vested) (the "Class B Options"), (b) 297,691 Class A Shares (the "Total Class A Ownership"), (c) 922,691 options to purchase Class A Shares (of which 222,500 are vested (the "Vested Class A Options") and 700,191 are unvested (collectively with the Vested Class A Options, the "Class A Options")), (d) 61,437 restricted share units (all of which are vested, but none of which will be settled within 60 days (the "RSUs")), and (e) 259,839 performance share units (none of which are vested (the "PSUs")).
Assuming (a) the exercise of the Class B Options, 505,264 Class B Shares would be issued and the Total Class B Ownership would increase to 1,382,360 Class B Shares (representing 17.66% of the issued and outstanding Class B Shares) and, (b) the exercise of the Vested Class A Options, 222,500 Class A Shares would be issued and the Total Class A Ownership would increase to 520,191 Class A Shares (representing 0.59% of the issued and outstanding Class A Shares), and Mr. Raymond would control approximately 8.62% of the total voting rights outstanding of Alithya (based on the number of Class B Shares and Class A Shares issued and outstanding as of the date hereof and after giving effect to the issuance of the 505,264 Class B Shares and 222,500 Class A Shares issuable under the Class B Options and Vested Class A Options). Of such ownership of 1,382,360 Class B Shares and 520,191 Class A Shares, (i) Mr. Raymond would beneficially own and control 810,528 Class B Shares (representing 10.35% of the issued and outstanding Class B Shares) and 520,191 Class A Shares (representing 0.59% of the issued and outstanding Class A Shares) and (ii) Mr. Raymond would control, and Direxions would own, 571,832 Class B Shares (representing 7.30% of the issued and outstanding Class B Shares).
Assuming (a) the exercise of the Class B Options, 505,264 Class B Shares would be issued and the Total Class B Ownership would increase to 1,382,360 Class B Shares (representing 17.66% of the issued and outstanding Class B Shares) and, (b) the exercise of the Class A Options and settlement in full of the RSUs and PSUs, 1,243,967 Class A Shares would be issued and the Total Class A Ownership would increase to 1,541,658 Class A Shares (representing 1.73% of the issued and outstanding Class A Shares), and Mr. Raymond would control approximately 9.18% of the total voting rights outstanding of Alithya (based on the number of Class B Shares and Class A Shares issued and outstanding as of the date hereof and after giving effect to the issuance of the 505,264 Class B Shares and 1,243,967 Class A Shares issuable under the Class B Options, the Class A Options, the RSUs and the PSUs). Of such ownership of 1,382,330 Class B Shares and 1,541,658 Class A Shares, (i) Mr. Raymond would beneficially own and control 810,528 Class B Shares (representing 10.35% of the issued and outstanding Class B Shares) and 1,541,658 Class A Shares (representing 1.73% of the issued and outstanding Class A Shares) and (ii) Mr. Raymond would control, and Direxions would own, 571,832 Class B Shares (representing 7.30% of the issued and outstanding Class B Shares).
Mr. Raymond is a trustee of Direxions and has the sole power to direct investments and vote the securities. Direxions may be considered to be a joint actor with Mr. Raymond.
SOURCE Alithya
For further information or to obtain a copy of the early warning report filed by Mr. Raymond (which is available under Alithya's SEDAR profile at www.sedar.com), please contact:Claude Thibault, Chief Financial Officer, Alithya Group inc., [email protected], 514-285-5552
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