Galen G. Weston becomes controlling shareholder of George Weston Limited

CPE News (12/24/2020) – Willard Galen Garfield Weston (Galen G. Weston) has succeeded his father, W. Galen Weston (Mr. Weston) as the controlling shareholder of Wittington Investments, Limited (WIL), which, in turn, is the controlling shareholder of George Weston Limited (GWL) (TSX: WN).

Through Wittington Investments, Limited, Galen G. Weston acquired control over 78,327,984 common shares of GWL, representing 51.41% of the outstanding common shares of GWL. Immediately before the transaction, Galen G. Weston had ownership and/or control over 319,056 common shares of GWL, representing 0.21% of the then outstanding common shares of GWL. Immediately after the transaction, Galen G. Weston had ownership and/or control over 78,647,040 common shares of GWL, representing 51.62% of the then outstanding common shares of GWL.

Immediately before the transaction, Mr. Weston had ownership and/or control over 80,406,054 common shares of GWL, representing 52.77% of the then outstanding common shares of GWL. Immediately after the transaction, Mr. Weston had ownership and/or control over 2,078,070 common shares of GWL, representing 1.36% of the then outstanding common shares of GWL

Galen G. Weston succeeded Mr. Weston as Chairman of GWL in 2016 and became the Chief Executive Officer of GWL in 2017.

Founded in 1882, George Weston Limited is a Canadian public company operates through its three reportable operating segments, Loblaw Companies Limited (TSX: L), Choice Properties Real Estate Investment Trust (TSX: CHP.UN), and Weston Foods.

As of March 9, 2020, George Weston Limited beneficially owned, directly and indirectly, a total of 186,814,916 Loblaw common shares, representing approximately 52.0% of 359,548,517 then issued and outstanding common shares.

As of March 9, 2020, George Weston Limited beneficially owned 50,661,415 Trust Units and 389,961,783 Special Voting Units, representing a 62.91% effective interest in Choice Properties Real Estate Investment Trust.

As at December 31, 2019, George Weston Limited owned, either directly or indirectly, 100% of the voting securities of the Weston Foods subsidiaries.

photo credit: George Weston Limited

News Release

Weston Family Announces Succession

TORONTO, Dec. 24, 2020 /CNW/ – The Weston Family announced that effective December 23, 2020, Galen G. Weston has succeeded his father, Mr. W. Galen Weston (Mr. Weston) as the controlling shareholder of Wittington Investments, Limited, which, in turn, is the controlling shareholder of George Weston Limited (GWL). Galen G. Weston succeeded Mr. Weston as Chairman of GWL in 2016 and became the Chief Executive Officer of GWL in 2017.

SOURCE Wittington Investments, Limited

For further information: Wittington Investments, Limited, c/o Tara Speers, Investor Relations, Email: Tara.Speers@weston.ca