October 31, 2013

TORONTO, ONTARIO–(Marketwired – Oct. 31, 2013) –


Altus Group Limited (“Altus Group” or “the Company”) (TSX:AIF) is pleased to announce that it has completed its previously announced Offering of common shares and that in connection therewith, the underwriters exercised the over-allotment option. In aggregate, 3,507,500 common shares in the capital of the Company were issued, at a price of $13.15 per common share, for total gross proceeds of $46,123,625.

The Offering was completed on a bought deal basis and was underwritten by a syndicate co-led by BMO Capital Markets and Canaccord Genuity Corp., and included National Bank Financial Inc., CIBC World Markets Inc., Cormark Securities Inc., and HSBC Securities (Canada) Inc.

“We are pleased that this Offering, which positions Altus Group for long-term growth, has been received well in the marketplace,” said Chief Executive Officer, Robert Courteau. “We continue to create long-term shareholder value with the strengthening of our core business units and our strategic plan for growth.”

As previously announced, the net proceeds of the Offering will be used for the repayment of debt and general corporate purposes, including Altus Group’s growth strategy.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.


About Altus Group Limited

Altus Group is a leading provider of independent commercial real estate consulting and advisory services, software and data solutions. We operate five interrelated Business Units, bringing together years of experience and a broad range of expertise into one comprehensive platform: Research, Valuation and Advisory; ARGUS Software; Property Tax Consulting; Cost Consulting and Project Management and Geomatics. Our suite of services and software enables clients to analyze, gain insight and recognize value on their real estate investments.

Altus Group has over 1,800 employees in multiple offices around the world, including Canada, the United States, the United Kingdom, Australia and Asia Pacific. Altus Group’s clients include financial institutions, private and public investment funds, insurance companies, accounting firms, public real estate organizations, real estate investment trusts, industrial companies, foreign and domestic private investors, real estate developers, governmental institutions and firms in the oil and gas sector.

For more information, please visit: www.altusgroup.com.


Forward-Looking Information

Certain information in this press release may constitute “forward-looking information” within the meaning of applicable securities legislation. All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Generally, forward-looking information can be identified by use of words such as “may”, “will”, “expect”, “believe”, “plan”, “would”, “could” and other similar terminology. All of the forward-looking information in this press release is qualified by this cautionary statement.
Forward-looking information includes, but is not limited to, information that relates to Altus Group’s objectives, strategies and intentions, and future financial and operating performance and prospects, including the expectations in connection with Altus Group’s growth strategy. Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Altus Group at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that Altus Group identified and applied in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to: the successful execution of its business strategies; consistent and stable economic conditions or conditions in the financial markets; consistent and stable legislation in the various countries in which Altus Group operates; no disruptive changes in the technology environment; the opportunity to acquire accretive businesses; the successful integration of businesses; and the continued availability of qualified professionals.
The risks, uncertainties, contingencies and other factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: the general state of the economy; competition in the industry; ability to attract and retain professionals; integration of acquisitions; dependence on oil and gas sector; dependence on Canadian multi-residential market; customer concentration; currency risk; interest rate risk; reliance on larger software transactions with longer and less predictable sales cycles; success of new product introductions; ability to respond to technological change and develop products on a timely basis; ability to maintain profitability and manage growth; revenue and cash flow volatility; credit risk; protection of intellectual property or defending against claims of intellectual property rights of others; weather; fixed-price and contingency engagements; operating risks; performance of obligations/maintenance of client satisfaction; appraisal mandates; legislative and regulatory changes; the risk of future legal proceedings; insurance limits; income tax matters; ability to meet solvency requirements to pay dividends; leverage and restrictive covenants; unpredictability and volatility of Common Share price; capital investment; and the issuance of additional Common Shares diluting existing shareholders’ interests, as well as those described in Altus Group’s publicly filed documents, including the most recent annual information form dated March 28, 2013 (which are available on SEDAR at www.sedar.com). Should one or more risk, uncertainty, contingency or other factor materialize or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. The timing and completion of the proposed Offering are subject to customary conditions, termination rights and other risks and uncertainties. Accordingly, there can be no assurance that the proposed Offering will occur, or that it will occur on the timetable or on the terms and conditions contemplated. The proposed Offering could be modified, restructured or terminated. Altus Group does not assume any obligation to update or revise any forward-looking information after the date of this press release or to explain any material difference between subsequent actual events and any forward-looking information, except as required by applicable law. Additionally, Altus Group undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Altus Group, its financial or operating results, or its securities, or the proposed Offering.


Camilla BartosiewiczBartosiewicz

Vice President, Investor Relations
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