Stella-Jones Inc. Announces Closing of Secondary Public Offering and Private Placement by Stella Jones International S.A.
August 14 2018 - 9:23AM
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR DISSEMINATION IN THE UNITED STATES
Stella-Jones Inc. (TSX: SJ) (“Stella-Jones” or the “Company”)
announced today that Stella Jones International S.A. (“SJ
International”) has completed its previously announced secondary
public offering pursuant to which SJ International sold, on a
bought deal basis, to a syndicate of underwriters, led by TD
Securities Inc., as sole bookrunner, 8,445,911 common shares of the
Company at a price of $40.63 per common share (the “Public
Offering”), as well as its previously announced private placement
pursuant to which SJ International sold to British Columbia
Investment Management Corporation (BCI), the Caisse de dépôt et
placement du Québec, the Fonds de solidarité FTQ, GPI Capital,
OMERS, the defined benefit pension plan for Ontario’s municipal
employees, and the Company’s President and Chief Executive Officer,
Brian McManus, an aggregate of 13,126,925 common shares of the
Company at a price of $40.63 per common share (the “Private
Placement”). TD Securities Inc. acted as sole bookrunner and sole
agent on the Private Placement. The Company did not receive any
proceeds from the Public Offering or the Private Placement.
Following closing of the transactions, Tom A.
Bruce-Jones resigned as Chairman of the Board and director and
Gianni Chiarva resigned as Vice-Chairman of the Board and director
of the Company.
“The company that we founded 25 years ago is now
opening a new chapter and we would like to thank all our employees,
suppliers, customers and shareholders for helping us to create a
leading North American wood treatment company. We remain
incredibly proud of what everybody has achieved, and we know the
company will build upon this platform for the future,” said Tom A.
Bruce-Jones and Gianni Chiarva jointly, on behalf of Stella Jones
International S.A.
“On behalf of Stella-Jones, I would like to
thank Tom and Gianni for their dedication and vision and wish them
success in all their future endeavors,” said Brian McManus,
President and Chief Executive Officer of Stella-Jones.
This news release is not an offer of securities
for sale in the United States. The securities being offered have
not been and will not be registered under the United States
Securities Act of 1933, as amended, and accordingly are not being
offered for sale and may not be offered, sold or delivered,
directly or indirectly within the United States, its possessions
and other areas subject to its jurisdiction, except pursuant to an
exemption from the registration requirements of that Act.
ABOUT STELLA-JONESStella-Jones
Inc. (TSX: SJ) is a leading producer and marketer of pressure
treated wood products. The Company supplies North America’s
railroad operators with railway ties and timbers, and the
continent’s electrical utilities and telecommunication companies
with utility poles. Stella-Jones also manufactures and distributes
residential lumber and accessories to retailers for outdoor
applications, as well as industrial products for construction and
marine applications. The Company’s common shares are listed on the
Toronto Stock Exchange.
This press release may contain information and
statements of a forward-looking nature. These statements are based
on suppositions and uncertainties as well as on management’s best
possible evaluation of future events. Such factors may include,
without excluding other considerations, fluctuations in quarterly
results, evolution in customer demand for the Company’s products
and services, the impact of price pressures exerted by competitors,
the ability of the Company to raise the capital required for
acquisitions, and general market trends or economic changes. As a
result, readers are advised that actual results may differ from
expected results.
Source: |
Stella-Jones
Inc. |
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Contacts: |
Éric Vachon,
CPA, CA |
Pierre Boucher,
CPA, CMA |
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Senior Vice-President
and Chief Financial Officer |
Jennifer
McCaughey, CFA |
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Tel.: (514)
940-3903 |
MaisonBrison
Communications |
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evachon@stella-jones.com |
Tel.: (514)
731-0000 |
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pierre@maisonbrison.com |
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jennifer@maisonbrison.com |
HEAD
OFFICE3100 de la Côte-Vertu Blvd.
Suite 300 Saint-Laurent, Québec H4R 2J8Tel.: (514)
934-8666Fax: (514) 934-5327 |
EXCHANGE
LISTINGSThe Toronto Stock
Exchange Stock Symbol: SJTRANSFER
AGENT AND
REGISTRARComputershare Investor
Services Inc |
INVESTOR
RELATIONSÉric VachonSenior
Vice-President and Chief Financial Officer Tel.: (514)
940-3903Fax: (514) 934-5327evachon@stella-jones.com |
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