TORONTO, ONTARIO--(Marketwire - Dec. 12, 2011) - VYCO Ltd., a corporation of which Mr. Donald K. Johnson is President, and which is controlled by a family trust of which Mr. Johnson is a discretionary beneficiary, announced today that it has acquired 952,417 common shares ("Common Shares") in the capital of easyhome Ltd. (TSX:EH) at a price of $5.99 per Common Share, representing approximately 8.04% of the outstanding Common Shares, by way of two private agreement purchases in reliance on the "private agreement exemption" set forth in Section 100.1 of the Securities Act (Ontario). Mr. Johnson is also the Chairman of the Board of Directors and a principal shareholder of easyhome Ltd. Following completion of the purchases, Mr. Johnson beneficially owns, directly or indirectly, or controls or directs an aggregate of 3,250,609 Common Shares representing approximately 27.43% of the outstanding Common Shares. 2,859,768 of such Common Shares are owned by VYCO Ltd, representing 24.13% of the outstanding Common Shares. (Mr. Johnson also holds options to purchase 14,000 Common Shares, all of which are currently out of the money. If such options were exercised, Mr. Johnson would own, control or direct approximately 27.52% of the Common Shares). Mr. Johnson stated that the Common Shares were acquired for investment purposes.
This press release is issued in accordance with regulatory requirements.
As of November 30, 2011, easyhome Ltd. had 263 stores, including 47 franchised/licensed locations. The Company also operated 87 easyfinancial kiosks within existing easyhome stores, two stand-alone easyfinancial locations and one national loan office.
easyhome Ltd. is Canada's largest merchandise leasing Company and the third largest in North America, offering top quality, brand-name household furnishings, appliances and home electronic products to consumers under weekly or monthly leasing agreements through both corporate and franchise stores. In addition, the Company offers a variety of financial services, including loans, prepaid cards and cheque cashing through its easyfinancial services business. easyhome Ltd. is listed on the TSX under the symbol 'EH'. For more information, visit www.easyhome.ca.
President & Chief Executive Officer
Sr. VP & CFO