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Onex Announces An “Event of Change” Affecting the Voting Rights of Its Multiple and Subordinate Voting Share Classes
All amounts in U.S. dollars unless otherwise stated
TORONTO, May 11, 2026 (GLOBE NEWSWIRE) -- Onex Corporation (TSX: ONEX, “Onex”) today announces the occurrence of an “Event of Change” as defined in Onex’ articles of incorporation (the “Articles”). As a result, certain voting rights associated with Onex’ issued and outstanding Subordinate Voting Shares (the “SVS”) and Multiple Voting Shares (the “MVS”) have been affected.
Following the Event of Change, holders of SVS are now entitled to one vote per share for each SVS held at shareholder meetings and are entitled to elect 80% of the members of the Onex Board of Directors; whereas, holders of MVS are now entitled to 20% of the members of the Onex Board of Directors and will no longer be entitled to vote at shareholder meetings except as provided by the Articles or applicable law. The Articles include a sunset provision pursuant to which Onex will repurchase the MVS for nominal consideration on May 11, 2029 or earlier if Mr. Gerald W. Schwartz, together with his immediate family, cease to own at least 5% of the outstanding SVS. Mr. Schwartz currently beneficially owns, controls or directs approximately 10.6% of the outstanding SVS.
About Onex
Onex invests and manages capital on behalf of its shareholders and clients across the globe. Formed in 1984, we have a long track record of creating value for our clients and shareholders. Our investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, banks, insurance companies, family offices and high-net-worth individuals. In total, Onex has approximately $59.2 billion in assets under management, of which $8.7 billion is Onex’ own investing capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.
Onex is listed on the Toronto Stock Exchange under the symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedarplus.ca.
Forward-Looking Statements
This press release may contain, without limitation, statements concerning possible or assumed future operations, performance or results preceded by, followed by or that include words such as “believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of similar connotation, which would constitute forward-looking statements. Forward-looking statements are not guarantees. The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertainties that may cause actual operations, performance or results to be materially different from those indicated in these forward-looking statements. Except as may be required by Canadian securities law, Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors. These cautionary statements expressly qualify all forward-looking statements in this press release.
For further information:
Zev Korman
Vice President, Shareholder Relations and Communications
+1 416.362.7711
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