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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ______________)*
GILDAN ACTIVEWEAR INC.
_______________________________________________________________________________
(Name of Issuer)
CLASS A SUBORDINATE VOTING SHARES
_______________________________________________________________________________
(Title of Class of Securities)
375916103
_______________________________________________________________________________
(CUSIP Number)
December 31, 2004
_______________________________________________________________________________
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes)
PERSONS WHO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS FORM ARE
NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL
NUMBER.
Page 1 of 5 pages
SEC 1745 (12-02)
CUSIP No. 375916103
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1 Names of Reporting Persons
I.R.S. Identification Nos of above persons (entities only).
SEAMARK ASSET MANAGEMENT LTD.
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2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ------------------------------------------------------------------
(b) ------------------------------------------------------------------
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3 SEC Use Only
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4 Citizenship or Place of Organization
INCORPORATED UNDER THE LAWS OF CANADA
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Number of 5 Sole Voting Power 1,998,355
Shares Bene- ----------------------------------------------------------------
ficially by 6 Shared Voting Power
Owned by Each ----------------------------------------------------------------
Reporting 7 Sole Dispositive Power 1,998,355
Person With: ----------------------------------------------------------------
8 Shared Dispositive Power
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
1,998,355
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10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
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11 Percent of Class Represented by Amount in Row (9) 6.73%
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12 Type of Reporting Person (See Instructions) IA
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Page 2 of 5 pages
ITEM 1.
(a) Name of Issuer: GILDAN ACTIVEWEAR INC.
(b) Address of Issuer's Principal executive Offices
725 MONTEE DE LIESSE
VILLE SAINT-LAURENT, QUEBEC
H4T 1P5
ITEM 2.
(a) Name of Person Filing SEAMARK ASSET MANAGEMENT LTD.
(b) Address of Principal Business Office or, if none, Residence
1801 HOLLIS ST., STE. 310,
HALIFAX N.S. B3J3N4
(c) Citizenship CANADIAN
(d) Title of Class of Securities
CLASS A SUBORDINATE VOTING SHARES.
(e) CUSIP Number 375916103
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTIONS 240.13d-1(b) OR
240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or dealer registered under section 15 of the Act (15
U.S.C. 78o)
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c)
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15
U.S.C. 78c)
(d) [ ] Investment company registered under section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8)
(e) [X] An investment adviser in accordance with Section
240-13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment in fund in accordance with
Section 240-13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with
Section 240-13d-1(b)(1)(ii)(G);
(h) [ ] A savings associations as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) / / Group, in accordance with Section 240 13d-1(b)(1)(ii)(J).
Page 3 of 5 pages
ITEM 4. OWNERSHIP.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1
(a) Amount beneficially owned: 1998355
(b) Percent of class: 6.73%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote 1998355.
(ii) Shared power to vote or to direct the vote .
(iii) Sole power to dispose or to direct the disposition of 1998355.
(iv) Shared power to dispose or to direct the disposition of .
Instruction For computations regarding securities which represent a
right to acquire an underlying security see Section 240.13d-3(d)(1)
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following / /
Instruction. Dissolution of a group requires a response to this item
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
If any other person is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in response to this
item and, if such interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of an investment
company registered under the Investment Company Act of 1940 or the
beneficiaries of employee benefit plan, pension fund or endownment fund is not
required. N/A
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
If a parent holding company has filed this schedule, pursuant to Rule
13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the
identity and the Item 3 classification of the relevant subsidiary. If a parent
holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule
13d-1(d), attach an exhibit stating the identification of the relevant
subsidiary N/A.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
If a group has filed this schedule pursuant to Section 240
13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating
the Identity and Item 3 classification of each member of the group. If a group
has filed this schedule pursuant to Section 240 13d-1(c) or Section 240
13d-1(d), attach an exhibit stating the identify of each member of the group
N/A.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Notice of dissolution of a group may be furnished as an exhibit stating the
date of the dissolution and that all further filings with respect to
transactions in the security reported on will be filed, if required, by members
of the group, in their individual capacity. See Item 5 N/A.
ITEM 10. CERTIFICATION
Page 4 of 5 pages
(a) The following certification shall be included if the statement is filed
pursuant to Section 240.13d-1(b):
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.
(b) The following certification shall be included if the statement is filed
pursuant to Section 240.13d-1(c):
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above 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.
SIGNATURE
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.
JANUARY 31, 2005
-----------------------------------
Date
/s/ Brent Barrie
-----------------------------------
Signature
BRENT BARRIE, CORPORATE SECRETARY
-----------------------------------
Name/Title
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative other than an executive
officer or general partner of the filing person, evidence of the represent-
ative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Section 240.13d-7 for other
parties for whom copies are to be sent.
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001)
Page 5 of 5 pages