Altus Group Completes Early Redemption of 6.75% Convertible Debentures
TORONTO (May 4, 2017) – Altus Group Limited (“Altus Group” or “the Company”) (TSX:AIF) announced today that it has completed the previously announced early redemption of its outstanding 6.75% Convertible Debentures (the “Debentures”) (TSX:AIF.DB.A).
The Debentures were redeemed by the Company on May 3, 2017, in accordance with the terms of the Convertible Debenture indenture and have been delisted from the Toronto Stock Exchange. The aggregate principal amount of the Debentures outstanding as of March 31, 2017 was $5,365,000, of which $4,969,000 was converted into 496,900 common shares issued from Treasury at a conversion price of $10.00 per common share. The remaining principal amount of $396,000 of the Debentures was redeemed using available cash on hand.
Altus Group Limited
Altus Group Limited is a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain market insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,300 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world’s largest real estate industry participants across a variety of sectors. Altus Group pays a quarterly dividend of $0.15 per share and our shares are traded on the TSX under the symbol AIF.
For more information on Altus Group, please visit: www.altusgroup.com.
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. Forward-looking information includes information that relates to, among other things, objectives, strategies and intentions, and future financial and operating performance and prospects. 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 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, industry results or events to be materially different from those expressed or implied by the forward-looking information. Please consult Altus Group’s most recent regulatory filings on SEDAR for more information on the Company’s forward- looking statements.
Camilla BartosiewiczBartosiewiczVice President, Investor Relations