TORONTO, May 10, 2019 (GLOBE NEWSWIRE) -- Walt & Co. Inc. (the “Acquiror”) today announced that it has today purchased 25,000 Class B voting shares (“Class B Shares”) of Wilmington Capital Management Inc. (“Wilmington”) on the open market at $5.00 per share for aggregate consideration of $125,000.
The acquired shares represent approximately 3% of Wilmington’s Class B Shares. Following the acquisition, Walt & Co. Inc. owns, directly, 1,280,524 Class A Shares which represents approximately 14% of the outstanding Class A Shares and 105,200 of the outstanding Class B Shares which represents approximately 11% of the outstanding Class B Shares. The Class B Shares were acquired for investment purposes.
Prior to May 10, 2019, the Acquiror had ownership and control over 1,280,524 Class A Shares and 80,200 Class B Shares representing approximately 14% of the outstanding Class A Shares and approximately 8% of the outstanding Class B Shares.
The Acquiror is a private investment holding company under the control and direction of Manfred Walt.