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LAVAL, Québec, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Savaria Corporation (“Savaria”) (TSX: SIS) a global leader in the accessibility industry, announces today that Mr. Marcel Bourassa, Executive Chairman of Savaria, has completed the sale of 2,000,000 common shares of Savaria (“Common Shares”) (representing approximately 2.8% of the issued and outstanding Common Shares). The Common Shares were sold through the facilities of the Toronto Stock Exchange (the “TSX”).

Following the sale of Common Shares, Mr. Bourassa will continue to be the largest shareholder of Savaria with an approximately 16.09% equity interest. “After 35 years of leadership at Savaria, I am proud of our accomplishments of building a team that has brought Savaria to the next level,” said Mr. Bourassa. The proceeds from the sale of Common Shares are for personal reasons, for family estate planning purposes and in support of philanthropic endeavors. Mr. Bourassa may, from time to time, increase or decrease his investment in Savaria through market transactions, private arrangements, treasury issuances or otherwise.

On September 23, 2024, Mr. Bourassa completed the sale of 2,000,000 Common Shares beneficially owned by Les élévateurs Savaria Inc. (representing 2.8% of the issued and outstanding Common Shares) through the TSX, which were sold at a price of $20.63 per share, for an aggregate consideration of $41,260,000 (the “Transaction”).

Immediately prior to the Transaction, Mr. Bourassa: (i) beneficially owned and controlled 32,900 Common Shares (representing approximately 0.05% of the issued and outstanding Common Shares), (ii) controlled 12,585,767 Common Shares beneficially owned by Les élévateurs Savaria Inc. (representing approximately 17.64% of the issued and outstanding Common Shares), (iii) controlled 277,931 Common Shares beneficially owned by 9302-0071 Québec Inc. (representing approximately 0.39% of the issued and outstanding Common Shares), (iv) controlled 336,500 Common Shares beneficially owned by 9264-4582 Québec Inc. (representing approximately 0.47% of the issued and outstanding Common Shares) and (v) controlled 250,000 Common Shares beneficially owned by Bourassa Savaria Foundation (representing approximately 0.35% of the issued and outstanding Common Shares), representing in the aggregate 13,483,098 Common Shares (or approximately 18.90% of the issued and outstanding Common Shares).

Immediately after the Transaction, Mr. Bourassa: (i) beneficially owns and controls 32,900 Common Shares (representing approximately 0.05% of the issued and outstanding Common Shares), (ii) controls 10,585,767 Common Shares beneficially owned by Les élévateurs Savaria Inc. (representing approximately 14.83% of the issued and outstanding Common Shares), (iii) controls 277,931 Common Shares beneficially owned by 9302-0071 Québec Inc. (representing approximately 0.39% of the issued and outstanding Common Shares), (iv) controls 336,500 Common Shares beneficially owned by 9264-4582 Québec Inc. (representing approximately 0.47% of the issued and outstanding Common Shares) and (v) controls 250,000 Common Shares beneficially owned by Bourassa Savaria Foundation (representing approximately 0.35% of the issued and outstanding Common Shares), representing in the aggregate 11,483,098 Common Shares (or approximately 16.09% of the issued and outstanding Common Shares).