Suzy Shier Limited Announces the Pricing for the Sale of a Portion of its Wet Seal Shares.DORVAL, Quebec--(BUSINESS WIRE)--May 22, 1996--Suzy Sheir Ltd(ME, TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : SZS SZS Stahlbau Zentrum Schweiz (Swiss Institute of Steel Construction) SZS Studienzentrum für Sehgeschädigte (German: Study Center for Visually Handicapped, Universität Karlsruhe) ) Suzy Shier shi·er adj. A comparative of shy1. Limited announced that the young women's apparel retailer The Wet Seal Wet Seal is a young women's clothing retailer headquartered in Foothill Ranch, California. It carries moderately priced brand name and company-designed apparel and accessories. The company was founded in Newport Beach, California by Lorne Huycke in 1962 as "Lorne's. , Inc. (Nasdaq: WTSLA), a corporation in which it controls the majority of the voting power, announced that on Monday, May 20, 1996 it priced its previously announced public offering of 3,100,000 shares of its Class A Common Stock, of which 1,167,500 shares are being sold by Suzy Shier Inc., a subsidiary of Suzy Shier Limited, 1,167,500 shares are being sold by Stephen Gross and Irving Teitelbaum and/or their beneficial interests and 765,000 shares are being sold by The Wet Seal, Inc. The shares are being sold to the public at a price of U.S. $20.00 per share. The Offering is being underwritten by Schroder Wertheim and Co. Incorporated and Montgomery Securities. In addition, Suzy Shier Inc. has granted the underwriters the option to purchase up to 157,500 additional shares to cover over- allotments. On May 21, 1996, the underwriters exercised their option to purchase all such shares. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). to the Company from the sale of shares by Suzy Shier Inc. are estimated to be Cdn $34,000,000. The proceeds will be used for general corporate purposes, which may include the repayment of certain indebtedness. After the sale of shares by Suzy Shier Inc., the Company and certain of its officers together will control 32.5 percent of the voting power of The Wet Seal, Inc. Suzy Shier Limited, headquartered in Montreal, is a speciality retailer of moderately priced fashionable apparel for women, sold in its 261 "Suzy Shier" and "L.A. Express" stores, and fashionable lingerie and sleepwear sold in its 140 store "La Senza" chains. Stores are located in every province of Canada For other uses, see Provinces and territories of Canada and Ecclesiastical Province of Canada. The Province of Canada or the United Province of Canada was a in North America from 1841 to 1867. , except Prince Edward Island Prince Edward Island, province (2001 pop. 135,294), 2,184 sq mi (5,657 sq km), E Canada, off N.B. and N.S. Geography One of the Maritime Provinces, Prince Edward Island lies in the Gulf of St. , and in the United Kingdom. Wet Seal currently operates 365 stores in 34 states and Puerto Rico under the names Wet Seal and Contempo Casuals. CONTACT: Suzy Shier Limited Mr. Gerald Randolph, C.A., 514/684-3651 |
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