Senior Management Purchase Over 1,000,000 Axis Shares in the Market
Senior Management Purchase Over 1,000,000 Axis Shares in the Market
Canada NewsWire
TORONTO, June 28, 2018
TORONTO, June 28, 2018 /CNW/ - Axis Auto Finance Inc. ("Axis" or the "Company"), (TSXV: AXIS) Canada's fastest growing publicly-traded sub-prime automotive finance company, announced today that Paul Stoyan, Chairman, Todd Hudson, CEO, Ilja Troitschanski, President and Steven Koster, Managing Director have purchased significant amounts of Axis stock in the market.
"Invest in what you know, is an investment thesis I live by", said Mr. Hudson. "Axis presents a great buying opportunity at the moment and we would be foolish not to take advantage of it", he added.
Mr. Stoyan, Mr. Hudson, Mr. Troitschanski and Mr. Koster collectively purchased a total of 1,023,000 shares of Axis at an average price of $0.71 for $727,290.
"Over the last 6 months Axis has quadrupled the size of the portfolio that generates a significant yield, and that's just the beginning", said Mr. Troitschanski. "Axis has the people, the means and the know-how to continue to be the clear leader in the Canadian sub-prime auto space and we put our money where our mouth is", he added.
In addition to purchasing shares in the market, Mr. Hudson has also asked the Axis Board of Directors to pay 40% of his salary in Restricted Share Units of Axis.
Insider ownership at Axis is above 25%, which perfectly aligns the interests of management with the shareholders.
About Axis Auto Finance
Axis provides non-standard financing options targeting roughly 30% of Canadians (Source: Equifax) that do not qualify for traditional bank-type financing for their used vehicle purchase. Through personalized service and a commitment to building strong, long-lasting relationships with dealer partners, Axis continues to be one of Canada's fastest-growing auto-financing companies.
Further information on the Company can be found at www.axisautofinance.com.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Axis Auto Finance Inc.
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