13D Filing: Spruce House Investment Management LLC and Colliers International Group Inc. (CIGI)

 

Each
Reporting Person, as a member of a “group” with the other Reporting Persons for the purposes of Section 13(d)(3) of
the Securities Exchange Act of 1934, as amended, may be deemed the beneficial owner of the Shares directly owned by the other
Reporting Persons. Each Reporting Person disclaims beneficial ownership of such Shares except to the extent of his or its pecuniary
interest therein.

 

d)
Except as set forth in Item 6 hereof, no person has the right to receive or the power to direct the receipt of dividends from,
or the proceeds from the sale of, the Shares reported herein.

 

e)
Not applicable.

 

Item
6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

 

Spruce
Investment is an investment adviser to its client, Spruce Partnership, which has the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of, the Shares. Spruce Capital, is the general partner of Spruce Partnership.
Messrs. Sternberg and Stein are the managers of each of Spruce Investment and Spruce Capital.

 

The
Reporting Persons are parties to an agreement with respect to the joint filing of this Schedule 13D and any amendments thereto.
A copy of such agreement is attached as Exhibit 1 to this Schedule 13D and is incorporated by reference herein.

 

Item
7. Material to Be Filed as Exhibits.

 

Exhibit	_	Description
1*		Joint Filing Agreement, dated September 25, 2017

 

*
Filed herewith.