Maple Rock Partners Inc. Ceases to Rely on Alternative Monthly Reporting System With Respect to Optiva Inc.

TORONTO--(BUSINESS WIRE)--Maple Rock Capital Partners Inc. (“Maple Rock”) announced today that it is ceasing to file reports in accordance with the alternative monthly reporting system under Part 4 of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues for Optiva Inc. (the “Issuer”).

Earlier today, Maple Rock announced that it had filed a requisition with the Issuer to call a special meeting of the holders (the “Shareholders”) of subordinate voting shares of the Issuer (the “Shares”) to consider, among other things, the composition of the board of directors of the Issuer and a strategic review of the business of the Issuer (the “Matters”). Maple Rock also announced its intention to communicate with, and engage in public or private solicitation of, the Shareholders in advance of the meeting of Shareholders in respect of the Matters.

As of the date of this press release, the number of Shares controlled by Maple Rock on behalf of various discretionary accounts that it manages is 1,173,491, representing approximately 22.08% of the issued and outstanding Shares (as reported in the Issuer’s management’s discussion and analysis dated November 6, 2019). All such Shares were purchased for investment purposes of Maple Rock’s managed clients. Maple Rock may increase or decrease its interest in the future as considered appropriate in light of market conditions and other factors. Other than as described above, Maple Rock does not have any plans or intentions with respect to any of the items enumerated in Item 5 of Form 62-103F2.

A report on Form 62-103F2 – Required Disclosure by an Eligible Institutional Investor under Section 4.3 is being filed by Maple Rock in accordance with applicable securities laws and will be available under the Issuer’s profile at www.sedar.com. The head office of the Issuer is 2233 Argentia Road, East Tower, Suite 302, Mississauga, Ontario L5N 2X7. The address of Maple Rock is 21 St. Clair Avenue East, Suite 1100, Toronto, Ontario, M4T 1L9.

FOR MORE INFORMATION:

For further information or to receive a copy of the report filed in connection with this press release, please see the Issuer’s profile on the SEDAR website (www.sedar.com) or contact Stephen D. Lane, Chief Financial Officer, Maple Rock at 416-572-3899.