Altus Group Limited Launches Dividend Reinvestment Plan
Provides Stakeholders with the Opportunity to Reinvest in Altus’ Growth
TORONTO, ONTARIO–(Marketwire – Feb. 20, 2013) –
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Altus Group Limited (“Altus”) (TSX:AIF), a global leader in professional consulting, software and data solutions for the real estate industry, is pleased to announce that it has adopted a dividend reinvestment plan (“DRIP”). The terms of the plan provide that eligible shareholders of Altus may elect to reinvest their cash dividends in additional common shares of the company without incurring any commissions, service charges or brokerage fees.
In accordance with the terms of the DRIP, Altus will either issue the required additional common shares from treasury or purchase shares in the open market. Currently, Altus intends to issue shares from treasury at a price equal to 96% of the weighted average closing price of the shares for the five trading days preceding the dividend payment date. Altus will announce by way of news release, the date on which a dividend is declared, how it intends to satisfy the share subscription and, if issued from treasury, the applicable discount.
“Altus is pleased to offer our shareholders this opportunity to increase their investment in the growth of our company,” said Bob Courteau, CEO, Altus Group. “We can also benefit from access to additional cash, reinforcing our commitment to manage our assets with efficiency to support the long-term health of our business.”
CIBC Mellon Trust Company will be mailing a complete information package to registered shareholders shortly. Eligible shareholders may reinvest dividends by completing the enclosed authorization form and returning it to CIBC Mellon. Beneficial owners who wish to participate in the DRIP must contact their broker or nominee and instruct the registered shareholder nominee to take all necessary actions to become a participant in respect of the beneficial owner’s shares.
Only Canadian shareholders are eligible to participate in the DRIP and the DRIP is subject to additional limitations and restrictions. Interested shareholders are encouraged to review the full text of the DRIP, available on Altus’ website at www.altusgroup.com. The implementation of this DRIP program does not assure the declaration of a dividend and the Board of Directors retains the discretion to do so. Altus may change the manner in which the reinvestment subscription is satisfied from time to time.
About Altus Group Limited
Altus leads the global real estate industry in offering professional real estate advisory services, data solutions and intelligence about an organization’s assets, generating a wealth of knowledge and insight. With a staff of over 1,700, Altus has a network of over 50 offices in a number of countries worldwide, including Canada, the United Kingdom, the United States, Australia and China. We operate five interrelated Business Units, bringing years of experience and a broad range of expertise together into one comprehensive platform: Research, Valuation and Advisory; Cost Consulting and Project Management; Realty Tax Consulting, Geomatics and ARGUS Software. Altus’ clients include banks, financial institutions, governments, pension funds, asset and fund managers, developers and landlords and companies engaged in the oil and gas industry.
Certain information in this press release may constitute “forward-looking information” within the meaning of applicable securities legislation. Generally, forward-looking information can be identified by use of words such as “may”, “will”, “expect”, “intend” and other similar terminology. Forward-looking information includes, but is not limited to, expectations with respect to the growth and long-term health of Altus and its assets. The forward-looking information reflects Altus’ and management’s current expectations, beliefs and assumptions regarding future events and operating performance and is based on information currently available to management. The assumptions underlying certain projections include, but are not limited to, general economic conditions, our diversity of service offering and geographic reach, stabilizing overseas operations, fluctuations in real estate transactions, and the execution of certain business strategies. Inherent in the forward-looking information are known and unknown risks, uncertainties and other factors which could cause actual results, performance or achievements of Altus to differ materially from any results, performance or achievements expressed or implied by such forward-looking information. Those risks, uncertainties and other factors that could cause actual results to differ materially from the forward-looking information include: general state of the economy; currency risk; ability to maintain profitability and manage growth; risk of future legal proceedings; insurance limits; and income tax matters; as well as those described in Altus’ publicly filed documents, including the Annual Information Form (which are available on SEDAR at www.sedar.com). Given these risks, uncertainties and other factors, investors should not place undue reliance on forward-looking information as a prediction of actual results.
Camilla BartosiewiczBartosiewiczVice President, Investor Relations