Sionna Investment Research Competition Sionna Investment Managers is a Toronto-based independent investment firm with total assets of $3.

9 billion. Founded in 2002, we are long-term value-oriented investors specializing in Canadian equities. The Challenge: Select and analyze a Canadian company with a market capitalization of below $1 billion which you believe would be a good long term investment. Submit your findings in a report with a maximum of 10 pages. Who can participate? The contest is open to all undergraduate students across Canada (excluding Quebec). We welcome students from any major or specialization. We are looking for individuals who have a keen interest in business or a passion for financial markets. When does the contest begin? The contest is open from October 1, 2013 to January 31, 2014. Two hardcopies of the report must be received on or before January 31, 2014. The winner will be contacted by April 2014. What kind of company can be used? Students may select any company listed on the Toronto Stock Exchange with less than $1 billion in market capitalization. Creativity is encouraged. What should the report look like? The report should not exceed 10 pages in length, single sided and single spaced. Any supporting charts must be included within the page limit. In addition to the report, please include a balance sheet, income statement, and cash flow statement for the company (excluded from the page limit). Each student may decide upon the best format to present their analysis. However, we recommend a discussion of the industry dynamics, competitive advantage, quality of management, and valuation. Be sure to include your contact information, including your student ID number, in the report. What is the prize? The winner will receive a $2,500 cash reward plus travel expenses (if applicable) to visit our office and present your findings to the Sionna investment team. How does a student submit their application? Please mail two hardcopies of your report to: Attn: Sionna Investment Research Competition Sionna Investment Managers 8 King Street East, Suite 1600 Toronto, Ontario M5C 1B5 We thank all participants but only successful candidates will be contacted. No telephone inquiries please. Thank you to all participating students and happy stock picking!
NO PURCHASE NECESSARY. Sionna Investment Managers Inc.s (Sionna or the Company) investment research competition (the Competition) starts on O ctober 1, 2013 and ends at 5:00 pm (EST) on January 31, 2014. Entrants must act as Research Analysts by analyzing a Toronto Stock Exchange listed company (one that has a market capitalization of less than $1 Billion CDN) and preparing a written report (the Report) about the company which they believ e to have the characteristics of a successful company, and therefore one in which investors ought to invest their money. The Competition is open to all full-time students registered in an undergraduate program at an accredited Canadian university and who are either Canadian citizens or have obtained Canadian resident status. Entrants who have not reached the age of majority at the time of submitting their Report must also obtain a parent or legal guardians prior permis sion in writing to be submitted to Sionna together with the Report. Students enrolled in a university in Quebec and/or residents of Quebec are excluded and are not eligible to enter the Competition. Nine (9) Sionna judges will choose one (1) winning Report. The winning Report will not be chosen at random, but according to a set of criteria comprising nine (9) categories, each of which is given a score out of ten (10) for a total mark out of 90. The following categories will be judged: industry dynamics, competitive landscape, company assessment, assessment of management, valuation, overall quality of the Report, originality and creativity, format, and adherence to the Competition requirements and rules. The particulars of the judging criteria can be found on Sionnas website at the address l isted below. The winner will be provided with travel and accommodation to present their Report at Sionnas head office in Toronto (up to a maximum value of $1,0 00 CDN) and a cheque in the amount of $2,500 CDN upon completion of the presentation. For complete Competition rules and information, including judging criteria, entry procedures and deadlines, please visit Sionnas website at http://www.sionna.ca/rulesandregulations.html.