Latest news with #RainyDayInvestments
Globe and Mail
8 hours ago
- Business
- Globe and Mail
Jane Silverstone Segal Increases Number of Shares of DAVIDsTEA Inc. Under Her Control
MONTREAL, June 20, 2025 (GLOBE NEWSWIRE) -- Jane Silverstone Segal, Chair of the Board of Directors of DAVIDsTEA Inc. (' DAVIDsTEA ') (TSXV: DTEA), announces that on June 20, 2025, she received shares of Rainy Day Investments Ltd. (' RDI ') by way of bequest from her late husband Mr. Herschel Segal, as a result of which Jane Silverstone Segal has voting control of RDI. RDI owns 12,012,538 common shares of DAVIDsTEA, representing 44.51% of DAVIDsTEA's issued and outstanding common shares, which shares are now controlled by Jane Silverstone Segal. Immediately prior to the transfer of shares described above, Jane Silverstone Segal held 127,087 common shares of DAVIDsTEA, representing 0.47% of its 26,985,738 issued and outstanding common shares. Immediately after the transfer of shares described above, Mrs. Segal holds or exercises control, directly or indirectly, over 12,139,625 common shares, representing 44.99% of DAVIDsTEA's issued and outstanding common shares. As a result of the transfer of shares described above, Mrs. Segal's holdings of DAVIDsTEA's common shares increased to 44.99% from 0.47%. The late Mr. Herschel Segal also held 1,523 common shares of DAVIDsTEA directly, representing 0.006% of the issued and outstanding shares. The 1,523 shares will be transferred to Jane Silverstone Segal by way of bequest in due course, following which she will hold or exercise control, directly or indirectly, over 12,141,148 common shares, representing 44.99% of DAVIDsTEA's issued and outstanding common shares. In accordance with applicable securities laws, Mrs. Segal may, from time to time and at any time, acquire additional DAVIDsTEA shares and/or other equity, debt or other securities or instruments (collectively, ' Securities ') of DAVIDsTEA in the open market or otherwise, and Mrs. Segal reserves the right to dispose of any or all of her Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the DAVIDsTEA and other relevant factors. A copy of an early warning report filed by Jane Silverstone Segal in connection with the transfer described above is available on SEDAR+ under DAVIDsTEA's profile. This news release is issued under the early warning provisions of Canadian securities legislation.
Yahoo
11-05-2025
- Business
- Yahoo
Herschel Segal, founder of Canadian brands Le Château and DavidsTea, has died
MONTREAL — Specialty tea provider DavidsTea Inc. says co-founder Herschel Segal, who also launched the Canadian fashion retailer Le Château, has died. The Montreal-based company issued a news release on Saturday saying Segal died on May 6 in Montreal. His age was not given. Segal retired from the board of directors of the beverage company in 2021, but his wife, Jane Silverstone Segal, remains chair of the board and his daughter, Sarah Segal, is the company's CEO and chief brand officer. Herschel Segal started Le Château in the late 1950s, and the clothing brand became a mall staple and a hit with young shoppers in the 1980s and '90s before foreign retailers like H&M and Zara entered the Canadian market. The company ultimately filed for creditor protection in 2020 and the stores were liquidated. The news release from DavidsTea says Segal "brought vision, determination, and a strong belief in customer connection to every venture he led," adding he was also a consistent champion for accessibility, innovation and a sense of community. 'Herschel's legacy lives on through DavidsTea and I am committed to continuing his vision,' Silverstone Segal said in the release. DavidsTea sells proprietary teas and gifts online, as well as in grocery stores, pharmacies and convenience stores in Canada and the United States. It also has 20 company-owned stores across Canada. The release says Rainy Day Investments Ltd., Segal's investment vehicle, remains DavidsTea's largest shareholder. The company notes it has been advised that Rainy Day intends to remain a long-term shareholder. This report by The Canadian Press was first published May 10, 2025. Companies in this story: (TSX-Venture: DTEA) The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
