TORONTO, July 25, 2013 /CNW/ - Stephen Smith today announced that on July 24, 2013 he acquired indirectly ownership of 546,700 common shares of Equitable Group Inc. ("Equitable Group") through the facilities of the Toronto Stock Exchange at a purchase price of $40.25 per common share. The common shares purchased represent approximately 3.58% of the total number of issued and outstanding common shares of Equitable Group.
As a result of this transaction, Mr. Smith now owns, directly or indirectly, or exercises control or direction over, 1,636,900 common shares of Equitable Group, representing approximately 10.71% of the total number of issued and outstanding common shares of Equitable Group.
Mr. Smith's acquisition was made for investment purposes. Mr. Smith may, in the future, acquire ownership and control over additional securities of Equitable Group for investment purposes.
SOURCE Stephen Smith