Scotiabank and AIMCo to dispose 5.5M TMX shares for $368.5M

The Bank of Nova Scotia (TSX/NYSE: BNS), through Scotia Capital Inc., and Alberta Investment Management Corporation (AIMCo), on behalf of certain of its clients, have each agreed to sell 2,750,000 common shares of TMX Group Limited (TSX: X), representing an aggregate of approximately 9.9% of the issued and outstanding common shares of TMX as of October 2, 2017.

No buyer information was given.

The common shares are being sold by Scotia Capital and AIMCo by way of a trade carried out under exemptive relief from certain provisions of the Universal Market Integrity Rules granted by the Investment Industry Regulatory Organization of Canada at a gross price of $67.00 per share.

As of March 13, 2017, there were 55,268,141 common shares of TMX Group outstanding.

After giving effect to the trade, Scotia Capital and AIMCo will each hold less than 5% of the issued and outstanding common shares of TMX and will no longer be entitled to appoint nominees to the board of directors of TMX.

The number of directors of TMX Group currently in office is 18. In addition to corporate and securities law requirements, TMX Group is required to comply with a myriad of governance requirements.

Jefferey Heath, Corporate Director and former EVP and Group Treasurer for Scotiabank, and Peter Pontikes, EVP of Public Equities at AIMCo, currently serve as Scotia Capital and AIMCo nominee respectively.

photo credit: TMX Group Limited

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.