EdgePoint Investment Group will no longer rely on the alternative monthly reporting system with respect to Optiva Inc.

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TORONTO, Feb. 21, 2020 /CNW/ - EdgePoint Investment Group Inc. ("EdgePoint") will cease 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.

EdgePoint wishes to acknowledge the press release dated January 27, 2020 issued by Maple Rock Capital Partners Inc. ("Maple Rock") disclosing its intention to nominate independent directors to Optiva's Board of Directors at the next Optiva shareholder meeting scheduled for May 12, 2020.

EdgePoint has no "agreement, commitment or understanding" with Maple Rock with respect to Optiva, and so is not acting "jointly or in concert" with Maple Rock within the meaning of applicable securities laws. EdgePoint is, however, in regular communication with Maple Rock and is supportive of better corporate governance. That said, EdgePoint is excited about Optiva's future and does not support a sale of the business.

EdgePoint provides discretionary portfolio management services and exercises control over 963,654 subordinate voting shares of Optiva, representing approximately 18.13% of Optiva's outstanding subordinate voting shares. Maple Rock has disclosed that it owns or exercises control and direction over 1,173,491 subordinate voting shares of Optiva, representing approximately 22.08% of the outstanding Optiva subordinate voting shares.

A report on Form 62-103F2 ? Required Disclosure by an Eligible Institutional Investor under section 4.3 of National Instrument 62-103 is being filed by EdgePoint in accordance with applicable securities laws and will be available under Optiva's profile at http://www.sedar.com. Optiva's head office is located at 2233 Argentia Rd., East Tower, Suite 302, Mississauga, Ontario L5N 2X7. EdgePoint's address is 150 Bloor St. W., Suite 500, Toronto, Ontario M5S 2X9.

EdgePoint will not purchase any further subordinate voting shares of Optiva between now and the Optiva shareholder meeting in ordinary course transactions on the Toronto Stock Exchange (TSX). EdgePoint reserves the right to sell its Optiva shares at any time and to vote its shares at the Optiva shareholder meeting as it considers appropriate at the time of the meeting.

As of February 20, 2020, there were 7,966 subordinate voting shares of Optiva on loan by EdgePoint. The securities lending contracts are administered by the accounts' custodians who act as agent and enter into written securities lending agreements on their behalf. These securities lending contracts generally have the following material characteristics: (i) the investor has an unrestricted right to recall the loaned securities or identical securities at any time (this includes the right to recall loaned or identical securities ahead of a proxy vote in order to exercise its voting power over the shares); and (ii) the accounts have the right to receive dividends or interest on loaned securities while they are on loan. These securities lending arrangements are specified securities lending arrangements, as that term is defined in section 5.1 of National Instrument 62-104 ? Take-Over Bids and Issuer Bids, and are therefore subject to the exception provided in section 5.7 of National Instrument 62-104.

FOR MORE INFORMATION
For further information or to receive a copy of the report filed in connection with this press release, please see Optiva's profile on the SEDAR website (http://www.sedar.com) or contact Patrick Farmer at 416-963-9353 or [email protected].

This is not an offer to purchase. Mutual funds can only be purchased through a registered Dealer. Please read the simplified prospectus before investing. Copies are available from your financial advisor or at www.edgepointwealth.com. EdgePoint is a registered trademark of EdgePoint Investment Group Inc. EdgePoint® and Owned and Operated by Investors^TM are trademarks of EdgePoint Investment Group Inc.

SOURCE EdgePoint Investment Group Inc.