Orane increases stake in Grace
published: Friday | January 28, 2005

DOUGLAS ORANE, the chief executive officer (CEO) of Grace, Kennedy and Company Ltd., has increased his shareholdings in the company. The Gleaner reported in error yesterday on page D5 that Mr. Orane has decreased his holdings. We regret any error and any embarrassment this may have caused.

The facts are that at the beginning of December 2004, Mr. Orane's shareholding in Grace, Kennedy was 5,862,132 shares. During the course of December, he exercised the right to purchase 800,000 shares out of the stock options vested in him since the inception of the Directors Stock Option Plan.

During the course of the same month, he sold a total of 600,000 Grace, Kennedy shares, increasing his shareholding in Grace, Kennedy to 6,062,132 shares, as of December 31, 2004.