Eric Boyko, President & CEO of Stingray Digital Group Inc., through Boyko Investments Corporation, has acquired control over 500,000 multiple voting shares, representing approximately 3.1% of the total Multiple Voting Shares outstanding, approximately 1.0% of the total shares outstanding of Stingray and approximately 2.5% of the total voting rights outstanding of Stingray. Each Multiple Voting Share confers the right to ten votes per share.
The seller is Télésystème Ltée.
Prior to the share acquisition, Eric Boyko had control over 10,794,285 Multiple Voting Shares and 14,035 subordinate voting shares of Stingray, representing approximately 21.0% of the total shares outstanding of Stingray and approximately 54.5% of the total voting rights outstanding of Stingray.
Immediately after the share acquisition, Eric Boyko has control over 11,294,285 Multiple Voting Shares and 14,035 Subordinate Voting Shares, representing approximately 22.0% of the total shares outstanding of Stingray and approximately 57.0% of the total voting rights outstanding of Stingray. Of the 11,294,285 Multiple Voting Shares, Eric Boyko indirectly holds 6,343,632 Multiple Voting Shares.
Eric Boyko is an indirect shareholder, through 9122150 Canada Inc., a company wholly-owned by Eric Boyko, of 8242003 Canada Inc., a direct shareholder of Stingray holding 7,938,285 Multiple Voting Shares (representing approximately 48.7% of the total Multiple Voting Shares outstanding, approximately 15.5% of the total shares outstanding of Stingray and approximately 40.1% of the total voting rights outstanding of Stingray), and indirectly holds 5,843,632 Multiple Voting Shares (representing approximately 35.9% of the total Multiple Voting Shares outstanding, approximately 11.4% of the total shares outstanding of Stingray and approximately 29.5% of the total voting rights outstanding of Stingray) through 8242003 Canada Inc. The shareholders of 8242003 Canada have entered into a Voting Trust and Right of First Offer Agreement dated as of June 3, 2015 pursuant to which they have appointed EB as voting trustee. As such, Eric Boyko possesses voting control over the 7,938,285 Multiple Voting Shares held by 8242003 Canada.
In addition, the shareholders of 8978832 Canada Inc., a direct shareholder of Stingray holding 2,856,000 Multiple Voting Shares (representing approximately 17.5% of the total Multiple Voting Shares outstanding, approximately 5.6% of the total shares outstanding of Stingray and approximately 14.4% of the total voting rights outstanding of Stingray), have entered into a Voting Trust and Right of First Offer Agreement dated as of June 3, 2015 pursuant to which they have appointed Eric Boyko as voting trustee. As such, Eric Boyko possesses voting control over the 2,856,000 Multiple Voting Shares held by 8978832 Canada Inc.
8978832 Canada shareholders include Mavrik Corp., Charles Rosner Bronfman Family Trust, Gaétan Morin (President & CEO of Fonds de solidarité FTQ), Gary S. Rich, Pascal Tremblay (Managing Partner of NOVACAP).
photo credit: Stingray