Principal shareholder files early warning report updating shareholdings in Norwall Group Inc.
28 August 2010 - 3:46AM
PR Newswire (Canada)
BRAMPTON, ON, Aug. 27 /CNW/ -- BRAMPTON, ON, Aug. 27 /CNW/ - James
J. Patton, the Chairman, President and Chief Executive Officer of
Norwall Group Inc. ("Norwall"), announced today that he has filed
an early warning report updating and clarifying his shareholdings
in Norwall. As disclosed in Mr. Patton's SEDI filings, between
November 29, 2006 and December 12, 2008, Mr. Patton acquired
beneficial ownership of an aggregate of 275,662 common shares in
the capital of Norwall ("Norwall Shares") pursuant to five market
purchases (the "Market Purchases") and one subscription in a
private placement of Norwall Shares from treasury. Further, on
September 25, 2007, Mr. Patton disposed of 602,600 Norwall Shares
by way of a gift, following which Mr. Patton beneficially owned
1,478,478 Norwall Shares (representing approximately 20.7% of the
then issued and outstanding Norwall Shares). On November 24, 2008,
Mr. Patton acquired 602,600 Norwall Shares by way of a gift,
following which Mr. Patton beneficially owned 2,129,678 Norwall
Shares (representing approximately 29.9% of the then issued and
outstanding Norwall Shares). As at the date hereof, Mr. Patton
beneficially owns 2,134,678 Norwall Shares, representing
approximately 29.9% of the issued and outstanding Norwall Shares.
Mr. Patton made the above-noted acquisitions for investment
purposes. He may decide to acquire additional Norwall Shares in the
future but has no specific intention to do so at this time. Mr.
Patton made the Market Purchases in reliance upon either the normal
course purchase or private agreement exemption set forth in section
100 and 100.1, respectively, of the Securities Act (Ontario).
%SEDAR: 00002584E (and to obtain a copy of the early warning report
prepared by Mr. Patton in accordance with Canadian securities
laws), please contact James J. Patton, 104 Regatta Drive, Jupiter,
Florida, 33477, by phone at (905) 791-2700 or via email at
jpatton@norwallgroup.com
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