LAVAL, Québec, Dec. 19, 2022 (GLOBE NEWSWIRE) -- Savaria Corporation (“Savaria”) (TSX: SIS) a global leader in the accessibility industry, announces today that Mr. Marcel Bourassa, President and CEO of Savaria has filed today an early warning report with respect to his shareholdings in Savaria further to the completion of his previously announced proposed distribution of 1,700,000 common shares of Savaria (“Common Shares”), representing 2.64% of the issued and outstanding Common Shares.

On December 19, 2022, Mr. Bourassa completed (i) the sale of 886,467 Common Shares beneficially owned by 9302-0071 Québec Inc. (representing 1.38% of the issued and outstanding Common Shares) through the Toronto Stock Exchange, which were sold at a price of $ 14.00 per share and, (ii) the sale of 813,533 Common Shares beneficially owned by Les Élévateurs Savaria Inc. (representing 1.26% of the issued and outstanding Common Shares) through the Toronto Stock Exchange, which were sold at a price of $ 14.00 per share (collectively the “Transactions”).

Immediately prior to the Transactions, Mr. Bourassa: (i) beneficially owned and controlled 32,900 Common Shares (representing approximately 0.0051% of the issued and outstanding Common Shares), (ii) controlled 13,399,300 Common Shares beneficially owned by Les Élévateurs Savaria Inc. (representing approximately 20.81% of the issued and outstanding Common Shares), (iii) controlled 886,467 Common Shares beneficially owned by 9302-0071 Québec Inc. (representing approximately 1.38% of the issued and outstanding Common Shares), (iv) controlled 336,500 Common Shares beneficially owned by 9264-4582 Québec Inc. (representing approximately 0.053% of the issued and outstanding Common Shares) and (v) controlled 250,000 Common Shares beneficially owned by Fondation Bourassa Savaria (representing approximately 0.039% of the issued and outstanding Common Shares), representing in the aggregate 14,905,167 Common Shares (or approximately 23.14% of the issued and outstanding Common Shares).

Immediately after the Transactions, Mr. Bourassa: (i) beneficially owns and controls 32,900 Common Shares (representing approximately 0.0051% of the issued and outstanding Common Shares), (ii) controls 12,585,767 Common Shares beneficially owned by Les Élévateurs Savaria Inc. (representing approximately 19,55% of the issued and outstanding Common Shares), (iii) controls 336,500 Common Shares beneficially owned by 9264-4582 Québec Inc. (representing approximately 0.053% of the issued and outstanding Common Shares) and (iv) controls 250,000 Common Shares beneficially owned by Fondation Bourassa Savaria (representing approximately 0.039% of the issued and outstanding Common Shares), representing in the aggregate 13,205,167 Common Shares (or approximately 20.50% of the issued and outstanding Common Shares).

About Savaria Corporation

Savaria Corporation (savaria.com) is a global leader in the accessibility industry. It provides accessibility solutions for the physically challenged to increase their comfort, their mobility and their independence. Its product line is one of the most comprehensive on the market. Savaria designs, manufactures, distributes and installs accessibility equipment, such as stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts and elevators for home and commercial use. It also manufactures and markets a comprehensive selection of pressure management products for the medical market, medical beds for the long-term care market, as well as an extensive line of medical equipment and solutions for the safe handling of patients, including ceiling lifts and slings. In addition, Savaria converts and adapts vehicles for personal and commercial uses. The Corporation operates a sales network of dealers worldwide and direct sales offices in North America, Europe (UK, The Netherlands, Switzerland, Italy, Germany, Poland and Czech Republic), Australia and China. Savaria employs approximately 2,250 people globally and its plants are located across Canada, the United States, Mexico, Europe and China.

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