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Stanley Ma Updates Early Warning Report

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MONTREAL, April 20, 2021 /CNW Telbec/ - Mr. Stanley Ma, the Founder and President and Chairman of the Board of MTY Food Group Inc. ("MTY"), has filed today an early warning report with respect to his shareholdings in MTY further to the completion of his previously announced proposed distribution of 880,000 common shares of MTY ("Common Shares"), representing 3.56% of the issued and outstanding Common Shares.

On April 19, 2021, Mr. Ma completed the (i) sale of 840,000 Common Shares beneficially owned by The Ma Family Holdings Inc. (representing 3.40% of the issued and outstanding Common Shares) through the facilities of the Chi-X and Chi-X2 alternative trading systems, of which 839,800 were sold at a price of $51.00 per share and 200 were sold at a price of $51.04 per share, and (ii) donation of 40,000 Common Shares beneficially owned by Mr. Ma (representing 0.16% of the issued and outstanding Common Shares) to the Philantra Foundation, a non-profit and charitable organization, representing in aggregate 880,000 Common Shares, or 3.56% of the issued and outstanding Common Shares as of April 19, 2021 (collectively, the "Transactions").

Immediately prior to the Transactions, Mr. Ma: (i) beneficially owned and controlled 524,034 Common Shares (representing 2.12% of the issued and outstanding Common Shares), (ii) controlled 446,500 Common Shares beneficially owned by 3148785 Canada Inc. (representing 1.81% of the issued and outstanding Common Shares), (iii) controlled 840,000 Common Shares beneficially owned by The Ma Family Holdings Inc. (representing 3.40% of the issued and outstanding Common Shares), and (iv) controlled 3,075,109 Common Shares beneficially owned by 11625306 Canada Inc. (representing 12.45% of the issued and outstanding Common Shares), representing in aggregate 4,885,643 Common Shares (or 19.77% of the issued and outstanding Common Shares).

Immediately after the Transactions, Mr. Ma: (i) beneficially owns and controls 484,034 Common Shares (representing 1.96% of the issued and outstanding Common Shares), (ii) controls 446,500 Common Shares beneficially owned by 3148785 Canada Inc. (representing 1.81% of the issued and outstanding Common Shares), and (iii) controls 3,075,109 Common Shares beneficially owned by 11625306 Canada Inc. (representing 12.45% of the issued and outstanding Common Shares), representing in aggregate 4,005,643 Common Shares (or 16.21% of the issued and outstanding Common Shares).

In addition, the spouse of Mr. Ma beneficially owns and controls 514,500 Common Shares (representing 2.08% of the issued and outstanding Common Shares), representing a total ownership, on a combined basis with Mr. Ma and other entities controlled by Mr. Ma as outlined above, of 5,400,143 Common Shares (representing 21.86% of the issued and outstanding Common Shares) immediately prior to the Transactions and 4,520,143 Common Shares (representing 18.3% of the issued and outstanding Common Shares) immediately after the Transactions.

The Common Shares were sold by Mr. Ma for personal reasons, for estate planning purposes and in support of philanthropic endeavors. Mr. Ma continues to be the largest shareholder of MTY and remains in his current role of President and Chairman of the Board. Mr. Ma and any joint actor may, from time to time, acquire or dispose of ownership or control or direction over some or all of the securities of MTY depending on a number of factors.

SOURCE MTY Food Group Inc.

Cision
Cision

View original content: http://www.newswire.ca/en/releases/archive/April2021/20/c1150.html