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TORONTO, ONTARIO--(Marketwired - Mar 11, 2016) - Minic Investments Limited of Toronto ("Minic") announces that on March 11, 2016 it acquired ownership of 100,000 non-voting Class A shares of Guardian Capital Group Limited ("GCGL"), as a result of which Minic now beneficially owns 4,072,850 GCGL non-voting Class A shares, representing 15.2% of the 26,796,753 issued and outstanding non-voting Class A shares.
The shares were acquired by Minic by way of a conversion of GCGL common shares already held by Minic. Common shares of GCGL are convertible into non-voting Class A shares on a one for one basis. Minic continues to be an insider of GCGL. Michael Christodoulou, a director and the President of Minic, beneficially holds 17,500 non-voting Class A shares of GCGL. Combined, the holdings of Minic and Mr. Christodoulou represent 15.3% of the 26,796,753 issued and outstanding non-voting Class A shares.
The 100,000 non-voting Class A shares of GCGL were acquired by Minic with the intention that they continue to be held for investment purposes. Minic may acquire additional non-voting Class A shares and common shares of Guardian in the future for investment purposes.
Minic Investments Limited
A. Michael Christodoulou