ATLANTA, Dec. 08, 2020 (GLOBE NEWSWIRE) -- Shapiro Capital Management LLC (“Shapiro”) announces that it acquired control over, but not ownership of, 163,700 Class B non-voting shares (“Class B Shares”) of Lions Gate Entertainment Corp. (the “Issuer”) on February 8, 2019 at an average price of CDN$20.37 per Class B Share, representing an aggregate price of CDN$3,333,990.82, which represented approximately 0.12% of the issued and outstanding Class B Shares of the Issuer. Immediately before the acquisition, Shapiro had control over, but not ownership of, 13,162,657 Class B Shares, which represented approximately 9.89% of the issued and outstanding Class B Shares of the Issuer. Immediately following the acquisition, Shapiro had control over, but not ownership of, 13,326,357 Class B Shares of the Issuer, which represented approximately 10.02% of the issued and outstanding Class B Shares of the Issuer.
After February 8, 2019, Shapiro made the following acquisitions of Class B Shares of the Issuer that triggered an obligation to file a subsequent early warning report and press release:
(a) 198,100 Class B Shares of the Issuer on June 18, 2019 at an average price of CDN$15.22 per Class B Share, representing an aggregate price of CDN$3,014,197.46, which represented approximately 0.15% of the issued and outstanding Class B Shares of the Issuer. Immediately before the acquisition, Shapiro had control over, but not ownership of, 15,876,985 Class B Shares, which represented approximately 11.88% of the issued and outstanding Class B Shares of the Issuer. Immediately following the acquisition, Shapiro had control over, but not ownership of, 16,072,185 Class B Shares of the Issuer, which represented approximately 12.03% of the issued and outstanding Class B Shares of the Issuer; and
(b) 250,000 Class B Shares of the Issuer on July 28, 2020 at an average price of CDN$9.95 per Class B Share, representing an aggregate price of CDN$2,487,148.13, which represented approximately 0.18% of the issued and outstanding Class B Shares of the Issuer. Immediately before the acquisition, Shapiro had control over, but not ownership of, 18,985,302 Class B Shares, which represented approximately 13.92% of the issued and outstanding Class B Shares of the Issuer. Immediately following the acquisition, Shapiro had control over, but not ownership of, 19,217,002 Class B Shares of the Issuer, which represented approximately 14.09% of the issued and outstanding Class B Shares of the Issuer.
As of December 7, 2020, Shapiro has control over, but not ownership of, 21,132,277 Class B Shares of the Issuer, representing approximately 15.37% of the issued and outstanding Class B Shares of the Issuer.
Shapiro acquired the Class B Shares through the New York Stock Exchange for investment purposes in the normal course of its business and not with the purpose of influencing the control or direction of the Issuer. Shapiro may in the future, subject to market conditions, make additional investments in or dispositions of the Issuer’s securities for hedging and other investment purposes. However, Shapiro does not intend to acquire 20% or more of the outstanding securities of the Issuer.
This news release is issued by Shapiro pursuant to the requirements of National Instrument 62‐103 The Early Warning System and Related Take‐Over Bid and Insider Reporting Issues. Further details regarding the acquisition of the Class B Shares described above and a copy of the early warning report filed under applicable Canadian securities laws in connection with the acquisitions are available on the Issuer’s profile on SEDAR at www.sedar.com or to obtain a copy of the early warning report filed in conjunction with this news release, please contact Louis Shapiro.
Shapiro Capital Management LLC
3060 Peachtree Rd NW
Suite 1555
Atlanta GA 30305
USA
Press Contact
Louis Shapiro, Shapiro Capital Management LLC, telephone (404) 842-9600, louis@shapirocapital.com