MONTREAL, QUEBEC — (Marketwired) — 09/05/17 — Stingray Digital Group Inc. (TSX: RAY.A)(TSX: RAY.B) (“Stingray”), a leading business-to-to business multi-platform music and in-store media solutions provider, wishes to inform the public that Eric Boyko, President, Cofounder, and CEO of Stingray, has increased his holdings in Stingray.
Earlier today, Eric Boyko issued a press release announcing that he had acquired, through Boyko Investments Corporation, a company wholly-owned by Eric Boyko, control over 500,000 multiple voting shares (“Multiple Voting Shares”) of Stingray (the “Purchased Shares”), representing approximately 3.1% of the total Multiple Voting Shares outstanding, approximately 1.0% of the total shares outstanding of Stingray and approximately 2.5% of the total voting rights outstanding of Stingray. The acquisition price of the Purchased Shares was $9.94 per share, for a total consideration equal to $4,970,000. Each Multiple Voting Share confers the right to ten votes per share.
Immediately after the acquisition of the Purchased Shares, Eric Boyko exercises control over 11,294,285 Multiple Voting Shares and 14,035 Subordinate Voting Shares, representing approximately 22.0% of the total shares outstanding of Stingray and approximately 57.0% of the total voting rights outstanding of Stingray.
To read the full release issued by Eric Boyko: https://www.stingray.com/about-us/press-room/news-and-press-releases/eric-boyko-increases-holdings-stingray-digital-group-inc
Stingray (TSX: RAY.A)(TSX: RAY.B) is a leading business-to-business multi-platform music and in-store media solutions provider operating on a global scale, reaching an estimated 400 million pay TV subscribers (or households) in 156 countries. Geared towards individuals and businesses alike, Stingray’s products include the following leading digital music and video services: Stingray Music, Stingray Concerts, Stingray iConcerts, Stingray Brava, Stingray DJAZZ, Stingray Music Videos, Stingray Lite TV, Stingray Ambiance, Stingray Karaoke, Festival 4K, and Classica. Stingray also offers various business solutions, including music and digital display-based solutions, through its Stingray Business division. Stingray is headquartered in Montreal and currently has over 350 employees worldwide, including in the United States, the United Kingdom, the Netherlands, Israel, Australia, Singapore, and South Korea. Stingray was recognized in 2013 and 2014 as a finalist in the Top 50 of Deloitte’s Technology Fast 50 list, and figures amongst PROFIT magazine’s fastest-growing Canadian companies. In 2016, Stingray was awarded best IR for an IPO at the IR Magazine Awards – Canada. For more information, please visit www.stingray.com