TDM Asset Management Pty Ltd Disposes of Securities in DavidsTea (NASDAQ: DTEA)

SYDNEY, Australia, Sept. 25, 2018 (GLOBE NEWSWIRE) -- TDM Asset Management Pty Ltd ("Offeror") announces that on 20 September 2018 it disposed of 579,902 common securities of DavidsTea ("Reporting Issuer"), a Montreal, Canada based company which operates as a specialty retailer of tea in Canada and the United States.

The disposal was reported in a Form 62-103F3.

The Offeror has disposed of 2,737,411 of common securities since its last Form 62-103F1 filing was made on 15 June 2018, representing approximately 10.6% of the presently issued and outstanding common securities. Immediately prior to the disposition the Offeror owned 3,162,520 common securities representing approximately 12.2% of the then issued and outstanding common securities. This disposition decreases the Offeror's position in the common securities of DavidsTea to 425,109, or approximately 1.6% of the presently issued and outstanding common securities of DavidsTea.

The securities were disposed of in multiple trades on the NASDAQ exchange at an average price of US$3.43 per share for an aggregate sale price of US$9,377,870. The disposal was made by the Offeror in the ordinary course of its activities as a professional investment manager.  DavidsTea is listed on the NASDAQ exchange under the symbol "DTEA".

The Offeror's head office is Level 9, 131 Macquarie Street, Sydney, Australia.

For further information please contact:

Benjamin Gisz, Partner, TDM Asset Management Pty Ltd

+61 2 8999 8816