SAIS Limited (“SAIS” or the “Company”) (TSXv:SAIS), announced Mark Irwin, has filed an early warning report (the"Report") under the Company's profile on SEDAR as summarized below. This press release is being disseminated as required by National Instrument 62-103, The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the filing of an early warning report.
Mark Irwin is a long serving board member of the Trafigura Group and its holding company Trafigura Group Pte Ltd is a Fortune 500 company.
This follows the Company’s Annual General and Special Meeting (the “Meeting”) held on August 30, 2019 where shareholders of the Company voted to approve Mr. Irwin becoming a new “control person” by the majority of disinterested shareholders of the Company, as required under the TSX-V Rules. As of today, Mr. Irwin now owns a total of 17,008,391 or 52.51% of the Company’s total issued and outstanding ordinary shares by virtue of acquiring: (i) 7,583,065 Ordinary Shares from El Greco; (ii) 4,580,063 Ordinary Shares from Claude Dauphin Estate; and (iii) 163,800 Ordinary Shares from Catherine Dauphin. The shares acquired by Mr. Irwin does not constitute a “take-over bid” under NI 62-104 because it’s in connection with a scheme of restructuring arrangement described in the management information circular dated July 29, 2019.
Prior to the completion of the transaction set forth in the Report, Mr. Irwin owned 4,681,463 ordinary shares of the Company, representing beneficial ownership of 14.45% of the total issued and outstanding ordinary shares.
Mr. Irwin has acquired these shares for investment purposes only and may, depending on market and other conditions, increase or decrease his beneficial ownership, control or direction over ordinary shares or other securities of the Company, through market transactions, private agreements, treasury issuances, exercise of convertible securities or other wise.
The official press release disseminated by Mark Irwin pursuant to National Instrument 62-103 is available here
Singapore-based SAIS is a provider of advanced technology solutions, business intelligence and supporting services. Across our units, we connect businesses with their customers through end-to end intelligent solutions. A global leader in the development of Customer Experience Management(“CEM”) platforms, we are focused on utilising AI to create technology aimed at providing unique digital experiences, and crafted to foster ground-breaking client-customer relationships.
To learn more about SAIS Limited, visit our website: sais-group.com