MONTREAL – Stingray Digital Group president and CEO Eric Boyko has increased his holdings in the company that he co-founded.
Boyko said in a news release Tuesday that Boyko Investments Corporation, a company that he wholly-owns, has acquired control over 500,000 multiple voting shares of Stingray, 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. Each multiple voting share confers the right to ten votes per share.
The acquisition price of the purchased shares was $9.94 per share, for a total consideration equal to $4,970,000.
As a result, Boyko now 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.
Stingray is a 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.
