21:34:01 EDT Fri 09 Jun 2023
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Kits Eyecare Ltd
Symbol KITS
Shares Issued 31,316,452
Close 2023-03-16 C$ 3.65
Recent Sedar Documents

Kits Eyecare CEO Hardy's holdings up to 32.15%

2023-03-16 18:38 ET - News Release

Mr. Roger Hardy reports


Roger Hardy, chairman and chief executive officer of Kits Eyecare Ltd., through a series of transactions that included open market buying over the facilities of the Toronto Stock Exchange and the exercise of restricted share rights, acquired an aggregate of 1,113,788 common shares of Kits, which are held either directly, indirectly or are common shares which Mr. Hardy has control or direction.

Following the closing of the initial public offering of Kits on Jan. 19, 2021, Mr. Hardy directly and beneficially held 8,955,507 common shares, representing 28.89 per cent of the then current issued and outstanding common shares. Before the acquisitions, Mr. Hardy also held 345,000 options to purchase an additional 345,000 common shares of the company and 9,760 restricted share rights (the RSRs) to purchase an additional 9,760 common shares of Kits.

Following the acquisitions, Mr. Hardy holds directly or indirectly, or exercises control or direction over an aggregate of 10,069,295 common shares, representing 32.15 per cent of the issued and outstanding common shares. Mr. Hardy also holds 445,000 options to purchase an additional 445,000 common shares of the company and 1,960 RSRs to purchase an additional 1,960 common shares of Kits. Assuming the exercise of the options and RSRs, Mr. Hardy would hold a total of 10,516,255 common shares, representing approximately 33.58 per cent of the issued and outstanding common shares.

Mr. Hardy, as Kits's chairman and chief executive officer, in addition to being one of Kits's largest shareholders, has been and will continue to be actively involved in the business, operations and strategic planning for Kits. The shares beneficially owned by Mr. Hardy, directly, indirectly and through which Mr. Hardy has control and direction are held for investment purposes. Mr. Hardy intends to review on a continuing basis his investment in Kits and may, depending on market and other conditions, increase or decrease his beneficial ownership of securities or those securities through which Mr. Hardy has control or direction, of Kits through market transactions, private agreements, public offerings or otherwise.

An early warning report relating to this transaction will be filed on SEDAR under Kits's profile. To obtain a copy of such report, please contact Sabrina Liak, chief financial officer of Kits, at 604-235-5550.

About Kits Eyecare Ltd.

Kits is Canada's fastest-growing digital eye care brand providing eyewear for eyes everywhere. The company offers customers access to a vast selection of contact lenses and eyeglasses, including its own exclusive Kits designed products, as well as a robust suite of on-line vision tools. The company's efficient digital platform, backed by its industry-leading manufacturing and designs, removes intermediaries and enables the company to offer great prices and deliver made-to-order personalized products with incredible care and accuracy. Kits is creating disruption in the industry by constantly pursuing cutting-edge technologies to enable the best customer experience, including on-line eyewear fitting tools and virtual try-on for glasses. Kits strives to delight its customers with the company's competitive prices, a convenient digital shopping experience, fast and reliable delivery options, and an unrelenting focus on earning its customers' lifelong trust.

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