Foraco International SA (TSX: FAR), a global provider of mineral and water drilling services, has disclosed that company founder Daniel Simoncini sold 2,000,000 ordinary shares on September 9, 2026, generating aggregate proceeds of $6,040,000 at $3.02 per share. The transaction was conducted through the Toronto Stock Exchange as part of Simoncini's long-term personal and estate planning. The sale reduces his indirect shareholding from 10.65% to 8.64% of issued and outstanding ordinary shares, triggering an early warning disclosure under Canadian securities legislation.

Key Points

  • Foraco International SA (TSX: FAR) — global mineral and water drilling services provider headquartered in Lunel, France
  • Founder Daniel Simoncini sold 2,000,000 ordinary shares on September 9, 2026 for total proceeds of $6,040,000 at $3.02 per share
  • Simoncini's indirect stake fell from 10.65% (10,571,225 shares) to 8.64% (8,571,225 shares), a reduction of 2.01%
  • Investors may be watching whether Simoncini makes further adjustments to his holdings, which the announcement notes could occur depending on market conditions

Simoncini Share Sale Details and Transaction Structure

The sale was executed through the Toronto Stock Exchange on September 9, 2026, with all shares held indirectly through Financière Berlaimont SARL, a Luxembourg-based entity controlled by Simoncini. Prior to the transaction, Simoncini owned or controlled 10,571,225 ordinary shares representing 10.65% of the company. Following completion, his indirect holding stood at 8,571,225 ordinary shares, or 8.64%. The release states proceeds will be used for personal and estate planning purposes, and no operational or strategic rationale for the sale was cited beyond that context.

Early Warning Reporting Obligations Under Canadian Securities Law

Because the transaction resulted in a change of 2.01% in Simoncini's shareholdings, Foraco issued this announcement under the early warning provisions of Canadian securities legislation, specifically National Instrument 62-104 and National Instrument 62-103. These rules require insiders and significant shareholders to publicly disclose material changes in their ownership positions. Early warning reports are to be filed by Simoncini and made available through the company's regulatory profile. The disclosure underscores standard transparency requirements applicable to significant shareholders of TSX-listed issuers.

Foraco's Global Footprint and Simoncini's Ongoing Role

Foraco describes itself as the third-largest global drilling enterprise, operating across 16 countries on five continents and serving both mining and water infrastructure projects. The release notes that Simoncini, as founder, may from time to time increase or decrease his ownership or control of Foraco securities depending on market conditions and other relevant factors. The announcement does not indicate any change to his role or relationship with the company beyond the shareholding reduction. The immediate share price impact was not clear from available public information.