SCHEDULE: Mawer Investment Management Boosts Sangoma Stake

Mawer Investment Management Ltd. has increased its beneficial ownership of Sangoma Technologies Corp. common shares to 4.64%, acquiring 1,540,208 shares.

Summary

• Mawer Investment Management Ltd. has filed a Schedule 13G, indicating an increase in its beneficial ownership of Sangoma Technologies Corp. common shares.
• The investment firm now beneficially owns 1,540,208 shares, representing 4.64% of the class.
• This ownership level means Mawer Investment Management Ltd. holds 5% or less of the class of securities, as per Item 5 of the filing.
• The filing is an amendment (Amendment No. 8) to a previous filing.
• The shares were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it primarily reports an increase in an institutional investor's passive stake without providing new operational or financial performance data for the company itself.

Positives

• Mawer Investment Management Ltd. has increased its stake in Sangoma Technologies Corp., suggesting confidence in the company's prospects.
• The firm holds sole voting and dispositive power over the 1,540,208 shares, indicating direct control over its investment.

Negatives

• The filing does not contain any negative financial information or operational concerns.
• The ownership percentage of 4.64% is below the threshold that typically triggers more stringent reporting requirements or significant influence.

Risks

• The filing does not explicitly mention any current issues or potential future challenges for Sangoma Technologies Corp.
• As an investment management firm, Mawer Investment Management Ltd. is subject to market risks inherent in holding equity securities.

Future Outlook

The filing does not contain any forward-looking statements or guidance from Sangoma Technologies Corp. It solely reports on Mawer Investment Management Ltd.'s ownership stake.

Management Comments

• "Based upon 33,216,981 Common Shares of Sangoma Technologies Corporation (the "Issuer") outstanding as of December 31, 2025, as reported in the Issuer's Interim Management Discussion and Analysis filed with the Securities and Exchange Commission on February 4, 2026."
• "By signing below I certify that, to the best of my knowledge and belief, 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 and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11."
• "After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct."

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors reporting passive stakes in publicly traded companies. Mawer Investment Management Ltd.'s increased stake in Sangoma Technologies Corp. suggests a continued or growing interest in the enterprise communications and networking sector, where Sangoma operates.

Stakeholder Impact

• Shareholders: The increased stake by Mawer Investment Management Ltd. may be viewed positively by some shareholders as it indicates institutional confidence, but the passive nature of the filing suggests no immediate impact on control or strategy.
• Employees: No direct impact is indicated.
• Customers: No direct impact is indicated.
• Suppliers: No direct impact is indicated.
• Creditors: No direct impact is indicated.

Next Steps

• Mawer Investment Management Ltd. will continue to hold and manage its investment in Sangoma Technologies Corp.
• Sangoma Technologies Corp. will continue its business operations as disclosed in its previous filings.

Key Dates

Keywords

Sangoma Technologies Corp, Mawer Investment Management Ltd, Schedule 13G, Beneficial Ownership, Common Shares, Investment Management, SEC Filing, Equity Holding