SCHEDULE 13G/A: Investment Firms Disclose 7.3% Passive Stake in IMAX Corp

Orbis Investment Management Limited and Allan Gray Australia Pty Ltd have jointly disclosed a passive 7.3% beneficial ownership stake in IMAX Corp common stock.

Summary

• Orbis Investment Management Limited and Allan Gray Australia Pty Ltd have filed an Amendment No. 2 to Schedule 13G, disclosing their beneficial ownership in IMAX Corp.
• As of March 31, 2025, the aggregate beneficial ownership by both firms totals 3,882,766 shares of IMAX Corp Common Stock.
• This represents 7.3% of the total class of securities.
• Orbis Investment Management Limited holds sole voting and dispositive power over 3,875,831 shares, representing 7.3% of the class.
• Allan Gray Australia Pty Ltd holds sole voting and dispositive power over 6,935 shares, representing 0% of the class.
• Both firms are classified as Non-U.S. Institutions (FI) equivalent to Investment Advisers (IA).
• They certify that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of IMAX Corp.
• They also state that they are not acting as a group for Section 13(d)(3) purposes and disclaim beneficial ownership of each other's shares.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would indicate a positive or negative sentiment regarding the issuer's performance or outlook.

Positives

• Two investment management firms, Orbis Investment Management Limited and Allan Gray Australia Pty Ltd, have disclosed a combined 7.3% passive stake in IMAX Corp, indicating their investment interest.
• The filing confirms that the shares are held in the ordinary course of business and not for the purpose of influencing control, suggesting a long-term, passive investment strategy.

Future Outlook

The document is a beneficial ownership disclosure and does not contain forward-looking statements or guidance regarding the issuer's future outlook.

Management Comments

• "The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities."
• "The foreign regulatory scheme applicable to Orbis Investment Management Limited and Allan Gray Australia Pty Ltd is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s)."

Industry Context

This filing is a standard disclosure of passive institutional ownership and does not provide specific insights into broader industry trends or competitive dynamics for IMAX Corp.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant passive ownership by institutional investors.
• Company Management: Awareness of a significant passive shareholder base.

Key Dates

Keywords

IMAX Corp, Schedule 13G, beneficial ownership, Orbis Investment Management Limited, Allan Gray Australia Pty Ltd, common stock, investment management, passive stake, SEC filing