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    CSU   CA21037X1006

CONSTELLATION SOFTWARE INC.

(CSU)
  Report
Delayed Toronto Stock Exchange  -  04:00 2022-08-05 pm EDT
2150.51 CAD   -0.84%
08/04Constellation Software Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
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08/04Earnings Flash (CSU.TO) CONSTELLATION SOFTWARE Reports Q2 Net income attributable to common shareholders increased 43% to US$126 million ($5.94 on a diluted per share basis
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08/04Earnings Flash (CSU.TO) CONSTELLATION SOFTWARE Reports Q2 Revenue US$1.618 Billion
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EMERGE Announces Board Nomination of Ian McKinnon, as Director

06/16/2022 | 07:01am EDT

TORONTO, June 16, 2022 /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM) ("EMERGE" or the "Company"), a diversified acquirer and operator of niche e-commerce brands, is pleased to highlight the nomination of Mr. Ian McKinnon to the Company's board of directors at the Company's upcoming annual general meeting to be held June 28, 2022 (the "AGM"), as outlined in the Company's management information circular dated May 16, 2022 (the "Circular").

Mr. McKinnon has been a director of numerous public and private technology companies since 1995, including 12 years on the board of Constellation Software Inc. (TSX: CSU) from 2006 to 2018. Among other roles, he currently serves as chairman of the board of directors of MessagePoint, a privately owned technology company, and as a director of TSX-listed, Sylogist Ltd. (TSX: SYZ). Prior to 2007, he was President and Chief Executive Officer of TSX/Nasdaq-listed Certicom Corp (2002 to 2007) and TSX-listed Promis Systems Corporation (1995 to 2000). From 1981 to 1995 he held various sales and senior management positions at Digital Equipment Corporation in Canada and Singapore where he served as Managing Director. Mr. McKinnon is a graduate of McMaster University and attended the INSEAD Business School Advanced Management Program.

"We are truly fortunate to have Ian accept the board nomination, pending shareholder approval.  Ian has priceless experience in technology, M&A, and public markets, perhaps none more relevant than his 12 years on the board of Constellation Software, one of the Canada's most successful and valuable growth-by-acquisition companies. We welcome his partnership and strongly believe it to be in the best interest of shareholders to have him join the board as independent director," said Ghassan Halazon, Founder and CEO of EMERGE.

Assuming the election of all nominees set out in the Circular by shareholders of the Company at the AGM, Mr. McKinnon is expected to become the Company's third independent board member, alongside Mr. John Kim and Mr. Drew Green (Chairman).

Ian McKinnon commented on his nomination, "I've observed how Ghassan and the EMERGE team have scaled their business methodically and through disciplined capital allocation. If appointed, I look forward to helping EMERGE successfully evolve and execute their strategic growth plan."

Drew Green, Chairman of EMERGE commented, "I am pleased that Ian has accepted the board nomination. Ian's financial acumen and decades of experience scaling technology companies will be invaluable to EMERGE, as we continue to acquire and operate niche e-commerce brands."

In addition, the Company announces that Mr. Nima Besharat has resigned as Director and Corporate Secretary of the Company effective June 15, 2022. The Company thanks Mr. Besharat for his services to the board of directors.

AGM Information

EMERGE will hold its AGM on June 28, 2022 at 4:00 pm (Toronto Time). The AGM will be conducted via live webcast. The audio webcast of the AGM will be available via the following link https://virtual-meetings.tsxtrust.com/1355.

The Company's Circular and accompanying Notice of Annual General Meeting of Shareholders, and its audited annual financial statements for the fiscal year ended December 31, 2021, are available under the Company's SEDAR profile at www.sedar.com.

About EMERGE

EMERGE is a diversified acquirer and operator of profitable niche e-commerce brands. Our subscription and marketplace e-commerce properties provide our members with access to pet products, premium meat, outdoor gear, golf, and other curated experiences. Our portfolio houses online destinations including WholesalePet.com, trulocal.ca, BattlBox.com, UnderPar.com, JustGolfStuff.ca, CarnivoreClub.co, WagJag.com, and BeRightBack.ca. EMERGE was named one of the fastest growing companies in Canada by the Startup 50, and the Globe and Mail's 2020 Canada's Top Growing Companies.

To learn more visit https://www.emerge-commerce.com/

Cautionary notice

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Notice regarding forward-looking statements

This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. There is no guarantee that the nominees set out in the Circular will be elected as directors of the Company at the AGM or that if elected, certain directors will meet the requirements for independence as set out in applicable Canadian securities legislation. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including the risk factors discussed in the Company's MD&A and Annual Information Form which are incorporated herein by reference and are available through SEDAR at www.sedar.com. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

On Behalf of the Board
Ghassan Halazon
Director and CEO

SOURCE EMERGE Commerce Ltd.

© Canada Newswire, source Canada Newswire English

Stocks mentioned in the article
ChangeLast1st jan.
CONSTELLATION SOFTWARE INC. -0.84% 2150.51 Delayed Quote.-8.37%
EMERGE COMMERCE LTD. 5.41% 0.195 Delayed Quote.-68.55%
SYLOGIST LTD. -0.42% 7.07 Delayed Quote.-45.15%
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Financials (USD)
Sales 2022 6 584 M - -
Net income 2022 506 M - -
Net Debt 2022 764 M - -
P/E ratio 2022 63,7x
Yield 2022 -
Capitalization 35 203 M 35 203 M -
EV / Sales 2022 5,46x
EV / Sales 2023 4,52x
Nbr of Employees 19 000
Free-Float 94,2%
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 1 661,20 $
Average target price 1 902,99 $
Spread / Average Target 14,6%
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Managers and Directors
Mark Henri Leonard President
Jamal Nizam Baksh Chief Financial Officer
John Edward Billowits Chairman
Mark Robert Miller Chief Operating Officer & Director
Bernard Anzarouth Chief Investment Officer
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