Shareholder Increases Interest in Baylin Technologies
TORONTO, Oct. 1, 2019 /CNW/ - Mr. Jeffrey C. Royer, Chairman of Baylin Technologies Inc. (Baylin), announced that an associate of Mr. Royer has acquired 200,000 common shares (common shares) of Baylin, representing approximately 0.5% of the 40,330,650 issued and outstanding common shares of Baylin. The shares were purchased on the Toronto Stock Exchange on September 26, 2019 for a total consideration of $450, 620 (an average price per share of $2.2531). As a result of the acquisition, the associate now holds 2,748,450 common shares, representing 6.81% of the issued and outstanding common shares. Mr. Royer exercises control or direction over these shares.
As a result of this acquisition, and together with 18,551,138 common shares (representing before the acquisition 46% of the issued and outstanding common shares) over which Mr. Royer currently exercises control or direction, Mr. Royer now has control or direction over 18,751,138 common shares, representing 46.49% of the issued and outstanding common shares of Baylin.
The common shares were acquired for investment purposes. Mr. Royer may direct the purchase of additional common shares or direct the sale of common shares based on market and other conditions or other circumstances.
A copy of the early warning report required by National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues incorporating this and other information will be available under Baylin's issuer profile on SEDAR at www.sedar.com
About Baylin
Baylin (TSX: BYL) is a diversified leading global wireless technology management company. Baylin focuses on research, design, development, manufacturing and sales of passive and active RF products and services. We aspire to exceed our customers' needs and anticipate the direction of the market.
Forward-looking Information Cautionary Statement
This news release contains statements that may constitute "forward-looking statements" or "forward looking information" under applicable securities laws, including statements relating to, the customers and potential sales of products by Baylin and assumptions regarding the future performance of Baylin. Certain statements made in this news release that are not historical facts are also forward-looking statements. These forward-looking statements reflect management's current internal projections, expectations or beliefs and are based on information currently available to Baylin. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "predict", "potential", "continue" or the negative of these terms or other comparable terminology. A number of factors could cause actual events or results to differ materially from those discussed in the forward-looking statements. Risks and uncertainties that could cause or contribute to such differences include, but are not limited to, those described under "Risk Factors" in Baylin's most recent annual information form, which is available on SEDAR. Baylin has made a number of assumptions in making forward-looking statements in this news release. Although management believes that the forward-looking statements contained herein are based on reasonable assumptions, an investor cannot be assured that actual results will be consistent with such statements. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. Baylin cannot provide any assurance that forward-looking statements will materialize. The forward-looking statements included in this news release are made as of the date of this news release and Baylin undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise except as may be required by applicable securities laws.
SOURCE Baylin Technologies Inc.
Investor Relations: Kelly Myles, Marketing and Communications Director, Baylin Technologies Inc., [email protected]; EVP Corporate Development, Daniel Kim, Baylin Technologies Inc., [email protected]
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