TORONTO, March 05, 2019 (GLOBE NEWSWIRE) -- Walt & Co. Inc. (the “Acquiror”) today announced that it has today purchased 550,624 Class A non‐voting shares (“Class A Shares”) and 49,000 Class B voting shares (“Class B Shares”) of Wilmington Capital Management Inc. (“Wilmington”) in private transactions from two vendors at $5.00 per share for aggregate consideration of $2,998,120.
The acquired shares represent approximately 6% of Wilmington’s outstanding Class A Shares and 5% of Wilmington’s Class B Shares. Following the acquisition, Walt & Co. Inc. owns, directly, 1,280,524 Class A Shares which represents approximately 14% of the outstanding Class A Shares and 80,200 of the outstanding Class B Shares which represents approximately 8% of the outstanding Class B Shares. The Class A Shares and Class B Shares were acquired for investment purposes.
Prior to March 5, 2019, the Acquiror had ownership and control over 729,900 Class A Shares and 31,200 Class B Shares representing approximately 8% of the outstanding Class A Shares and approximately 3% of the outstanding Class B Shares.
The Acquiror is a private investment holding company under the control and direction of Manfred Walt.