Tailwind Capital buys 5 per cent of Second Cup

Tailwind Capital has purchased 500,000 shares of Canada’s largest specialty coffee chain Second Cup from the major shareholding group Phelan Parties at a price of about US$3.60 per share. As of a result of this sale, the Phelan Parties, Second Cup's largest shareholders, own and exercise control and direction over a total of 2,770,200 common shares of Second Cup, representing approximately 28 per cent of the issued and outstanding common shares of Second Cup. The Tailwind Fund now owns 500,000 common shares of Second Cup, representing approximately 5 per cent of the outstanding common shares of Second Cup. Just last week Second Cup announced the appointment of former Holt Renfrew and Starbucks executive, Alix Box, as the company’s new President and Chief Executive Officer.