Amount beneficially owned:
This Amendment No. 1 to Schedule 13G is being filed on behalf of the Reporting Persons. As of the close of business on December 31, 2018, Dani Reiss is the beneficial owner of 20,130,334 Multiple Voting Shares of the Issuer, of which 17,579,451 Multiple Voting Shares are registered in the name of DTR LLC and the remainder are registered in the name of DTR (CG) Limited Partnership and DTR (CG) II Limited Partnership, entities controlled by Dani Reiss. Dani Reiss is also the beneficial owner of 26,316 Subordinate Voting Shares subject to vested options to purchase Subordinate Voting Shares.
The rights of the holders of the Issuer’s Multiple Voting Shares and Subordinate Voting Shares are substantially identical, except with respect to voting and conversion. The Subordinate Voting Shares have one vote per share and the Multiple Voting Shares have 10 votes per share. The Subordinate Voting Shares are not convertible into any other class of shares, while the Multiple Voting Shares are convertible into Subordinate Voting Shares on a one-for-one basis at the option of the holder and under certain other circumstances.
Accordingly, the 20,130,334 Multiple Voting Shares beneficially owned by Dani Reiss are convertible, at the option of Dani Reiss, into 20,130,334 Subordinate Voting Shares, which, together with the 26,316 Subordinate Voting Shares beneficially owned by Dani Reiss, represent approximately 18.3% of the Issuer’s outstanding Subordinate Voting Shares. The 17,579,451 Multiple Voting Shares held by DTR LLC are convertible, at the option of DTR LLC, into 17,579,451 Subordinate Voting Shares, or approximately 16.0% of the Issuer’s outstanding Subordinate Voting Shares.
The 20,130,334 Multiple Voting Shares and 26,316 Subordinate Voting Share beneficially owned by Dani Reiss represent approximately 35.4% of the Issuer’s total voting power. The 17,579,451 Multiple Voting Shares held by DTR LLC represent approximately 30.9% of the Issuer’s total voting power.
The percentage of the Issuer’s outstanding Subordinate Voting Shares and total voting power held by the Reporting Persons are based on 51,004,076 Multiple Voting Shares and 58,837,541 Subordinate Voting Shares outstanding as of December 31, 2018 and, in the case of Dani Reiss, 26,316 Subordinate Voting Shares subject to vested options and deemed outstanding pursuant to Rule 13d-3(d)(1)(i).
DTR LLC is party to an Investor Rights Agreement, dated as of March 6, 2017, with Brent (BC) Participation S.à r.l., a private limited liability company incorporated and existing under the laws of Luxembourg (“Brent”). The Investor Rights Agreement requires that DTR LLC and Brent cast all votes to which they are entitled to elect directors designated in accordance with the terms and conditions of the Investor Rights Agreement. As a result, DTR LLC and Brent may be deemed to be a group for purposes of Section 13(d) of the Act. DTR LLC disclaims beneficial ownership of the securities held by Brent.