Business
Fiera Capital Corporation Issues Class A Subordinate Voting Shares to DJM Capital Inc. in Satisfaction of its Year Two Earn-Out Payment
Fiera Capital Corporation Issues Class A Subordinate Voting Shares to DJM Capital Inc. in ...
About this update from Fiera Capital Corporation Class A
[{"type":"text","content":"\n\n\n\nFiera Capital Corporation Issues Class A Subordinate Voting Shares to DJM Capital Inc. in Satisfaction of its Year Two Earn-Out Payment\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Feb. 13, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES ORDISSEMINATION IN THE UNITED STATES/\n MONTREAL, Feb. 13, 2019 /CNW Telbec/ - Fiera Capital Corporation (\"Fiera Capital\", or the \"Firm\" or the \"Corporation\"), (TSX: FSZ), a leading independent asset management firm, announces that it has issued today 458,157 Class A subordinate voting shares (the \"Class A Shares\") to DJM Capital Inc. (\"DJM\"). This issuance was made pursuant to the terms of the share purchase agreement between Fiera Capital and DJM dated November 10, 2016, as amended (the \"Agreement\") with respect to the acquisition by the Corporation from DJM of the business of Centria Commerce Inc. (now known as Fiera Private Lending Inc.), a leading Quebec-based private investment manager that establishes and manages funds providing real estate financing and interim business financing.\nPursuant to the Agreement, additional consideration of up to C$12 million is payable to DJM in Class A Shares over a period of three calendar years following the closing (each year being an \"Earn-Out Period\") if certain assets under management, revenue and earnings before interest, taxes, depreciation and amortization targets are met (each an \"Earn-Out Payment\"). Fiera Capital and DJM have determined that for the year two Earn-Out Period those targets were met and that the Earn-Out Payment for such period amounts to C$5,516,212. The issue price per Class A Shares is equal to the aggregate volume weighted average trading price of the Class A Shares for the 10 trading day period ended February 11, 2019.\nFollowing the issuance of the Class A Shares, Jean-Guy Desjardins beneficially owns 2,190,565 Class A Shares, representing approximately 2.78% of the issued and outstanding Class A Shares. Assuming the conversion of his...