Browning West Amends Gildan Activewear Filing
Ticker: GIL · Form: SC 13D/A · Filed: Apr 2, 2024 · CIK: 1061894
| Field | Detail |
|---|---|
| Company | Gildan Activewear INC. (GIL) |
| Form Type | SC 13D/A |
| Filed Date | Apr 2, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $60 b, $100 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investor, amendment, schedule-13d
Related Tickers: GIL
TL;DR
Browning West just updated their Gildan filing again. Still watching.
AI Summary
Browning West LP, an investment firm, has filed an amendment (Amendment No. 4) to its Schedule 13D concerning Gildan Activewear Inc. The filing, dated April 2, 2024, indicates Browning West's continued interest and potential actions regarding the company's common shares. No specific dollar amounts or new shareholding figures are detailed in this particular amendment.
Why It Matters
This filing signals ongoing activist investor activity and potential strategic discussions or challenges concerning Gildan Activewear's future direction.
Risk Assessment
Risk Level: medium — Activist investor filings can lead to increased volatility and uncertainty for the target company's stock.
Key Players & Entities
- Browning West LP (company) — Filing entity
- Gildan Activewear Inc. (company) — Subject company
- Usman Nabi (person) — Associated with Browning West LP
FAQ
What is the purpose of this Amendment No. 4 to the Schedule 13D filing?
The filing is an amendment to the Schedule 13D, indicating changes or updates to the information previously reported by Browning West LP concerning their holdings and intentions regarding Gildan Activewear Inc.
Who is the filing entity and who is the subject company?
The filing entity is Browning West LP, and the subject company is Gildan Activewear Inc.
What is the CUSIP number for Gildan Activewear Inc. common shares?
The CUSIP number for Gildan Activewear Inc. common shares is 375916103.
When was this amendment filed with the SEC?
This amendment was filed on April 2, 2024.
Does this filing specify a new percentage of ownership or number of shares held by Browning West LP?
This specific amendment (Amendment No. 4) does not detail new shareholding figures or percentage of ownership; it serves as an update to the existing Schedule 13D.
Filing Stats: 872 words · 3 min read · ~3 pages · Grade level 11.3 · Accepted 2024-04-02 08:52:48
Key Financial Figures
- $60 b — Issuer’s share price to more than $60 by the end of 2025 and more than $100 ove
- $100 — an $60 by the end of 2025 and more than $100 over the next five years. The Reporting
Filing Documents
- sc13da412418013_04012024.htm (SC 13D/A) — 64KB
- ex991to13da412418013_040124.pdf (SC 13D/A) — 3121KB
- ex992to13da412418013_040124.htm (EX-99.2) — 12KB
- 0001193805-24-000484.txt ( ) — 4357KB
Purpose of Transaction
Item 4. Purpose of Transaction .
is hereby amended
Item 4 is hereby amended to add the following: On April 1, 2024, the Reporting Persons’ slate of eight highly qualified director candidates released an investor presentation (the “Presentation”) detailing its five-pillar operating plan to enhance shareholder value at the Issuer and increase the Issuer’s share price to more than $60 by the end of 2025 and more than $100 over the next five years. The Reporting Persons issued the Presentation at this time so that shareholders can understand the Issuer’s strong standalone prospects under a reconstituted Board that includes the Reporting Persons’ director nominees, including Michael Kneeland as the proposed Chair and Glenn Chamandy as the proposed CEO, as compared to the outcome of the Issuer’s reactionary sale process, which the Reporting Persons believe will likely undervalue the Issuer. Concurrently, the Reporting Persons issued a press release (the “April 1 Press Release”) attaching the Presentation and launched a website to direct shareholders to review the Presentation and other materials. Copies of the Presentation and April 1 Press Release are attached hereto as Exhibits 99.1 and 99.2, respectively, which are incorporated herein by reference.
Material to be Filed as Exhibits
Item 7. Material to be Filed as Exhibits .
is hereby amended
Item 7 is hereby amended to add the following exhibits: 99.1 Presentation. 99.2 April 1 Press Release. 4 CUSIP No. 375916103
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: April 2, 2024 Browning West, LP By: /s/ Samuel Green Name: Samuel Green Title: Chief Compliance Officer and Chief Financial Officer /s/ Usman Nabi Usman Nabi 5