North Charleston, South Carolina--(Newsfile Corp. - September 7, 2023) - The Article 6 Marital Trust created under the First Amended and Restated Jerry Zucker Revocable Trust dated 4-2-07 (the "Trust") announced today that it has purchased 150,600 common shares (the "Acquired Shares") of Supremex Inc. ("Supremex") (TSX: SXP) through the facilities of the TSX (the "Transaction"). The purchase price amounted to Cdn$4.17 per share for 150,000 common shares and Cdn$4.16 per share for 600 common shares. Anita G. Zucker is the trustee of the Trust. The Acquired Shares represent approximately 0.58% of the issued and outstanding common shares of Supremex.
Prior to the Transaction, the Trust owned 6,133,585 common shares, or approximately 23.7% of the issued and outstanding common shares of Supremex. As a result of the Transaction, the Trust owns 6,284,185 common shares, or approximately 24.28% of the issued and outstanding common shares of Supremex.
The Transaction is subject to the take-over bid rules found under National Instrument 62-104 - Take-Over Bids and Issuer Bids ("NI 62-104"). However, in purchasing the Acquired Shares, the Trust relied on the "normal course purchase exemption" under section 4.1 of National Instrument 62-104 - Take-Over Bids and Issuer Bids.
The Trust acquired the Acquired Shares for investment purposes. The Trust will continue to review the performance of and prospects for this investment and investment alternatives. As part of the ongoing review of the investment in Supremex, the Trust may explore from time to time a variety of alternatives, including the acquisition of additional securities of Supremex or the disposition of securities of Supremex in the open market or in privately negotiated transactions. The Trust may also explore other alternatives with respect to the investment in Supremex, including but not limited to an extraordinary corporate transaction involving Supremex, changes in the present board of directors or management of Supremex, or changes in Supremex's business or corporate structure. Although the foregoing reflects activities presently contemplated with respect to Supremex, the foregoing is subject to change at any time, and there can be no assurance that the Trust will take any of the actions referred to above.
This press release is being issued pursuant to National Instrument 62-104 - Take-Over Bids and Issuer Bids.
For further information, please contact:
Michael Bender
4838 Jenkins Avenue
North Charleston, South Carolina
29405
(843) 744-5174
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/179984
