Reduction of Participation of SIPAR in Group Bikini Village.MONTREAL -- SIPAR Inc. ("SIPAR") announces a reduction of participation on which it has control as portfolio manager of Groupe Bikini Bikini (bēkē`nē), atoll, c.2 sq mi (5.2 sq km), W central Pacific, one of the Ralik Chain, Marshall Islands. It comprises 36 islets on a reef 25 mi (40 km) long. Village Inc. ("Bikini Village"), formerly Groupe Les Ailes de la Mode Inc. This reduction of participation concerns 666,000 common shares and 1,166,000 warrants of which 666,000 of these warrants entitle en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: its holder to acquire 666,000 common shares of Bikini Village, at a price of $0.60 per a share for the first year and of $0.70 per a share for the second year, and 500,000 warrants entitling its holder to acquire 500,000 common shares of Bikini Village, at a price of $0.27. Following this reduction of participation, SIPAR has control over approximately 7.08% of the current issued and outstanding common shares of Bikini Village. If SIPAR were to exercise its privilege with respect to all the remaining warrants and convertible debenture Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. it still holds, the participation of SIPAR would represent approximately 13% of the outstanding common shares of Bikini Village, on a partially diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. base. This reduction of participation on which SIPAR has the control has been solely motivated mo·ti·vate tr.v. mo·ti·vat·ed, mo·ti·vat·ing, mo·ti·vates To provide with an incentive; move to action; impel. mo by portfolio management considerations concerning the aggregate portfolio under discretionary management. SIPAR could increase or decrease its position as per the investment objectives or size of the investment portfolio that it manages for its clients. SIPAR does not, however, intend to acquire more than 20%. About SIPAR SIPAR Inc. is an institutional fund management firm specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. in the segment of emerging Quebec-based companies with micro and small capitalizations. For further information concerning SIPAR, please visit its Internet site at www.sipar.ca |
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