Altus Group Limited Completes Acquisition of Existing U.S. Convertible Debentures
TORONTO, ONTARIO–(Marketwire – May 1, 2012) – Altus Group Limited (“Altus” or the “Company”) (TSX:AIF) is pleased to announce that today it has completed the acquisition of the outstanding convertible debentures issued to vendors of the Argus business in connection with Altus’ indirect acquisition of Realm Solutions, Inc. in June, 2011 (the “U.S. Convertible Debentures”).
Altus acquired the U.S. Convertible Debentures, (which as of May 1, 2012, had an aggregate principal and interest amount outstanding of approximately US$52.1 million), for an aggregate purchase price of US$46 million.
“We believe this move is in the best interest of Altus and will have a positive influence on our business as a result of increased stability going forward,” said Stuart Smith, Acting CEO, Altus.
Altus also announced today that, in conjunction with the release of its financial results for the quarter ended March 31, 2012, it will host an analyst conference call at 9:30 a.m. Eastern Standard Time, on Friday, May 11, 2012. Stuart Smith and Angelo Bartolini, Chief Financial Officer, will review first quarter results and corporate developments. The financial results will be released by newswire on Thursday, May 10, 2012.
To access this conference call, please dial one of the following numbers approximately five minutes prior to the commencement of the call:
1-877-440-9795 (toll-free) or 416-340-9432 (GTA)
A recording of this call will be made available beginning at 11:30 a.m. EDT. To access the recording, please call 1-800-408-3053 or 905-694-9451 (passcode: 4952603). The recording will also be available at altusgrouplimited.com.
About Altus Group Limited
Altus Group leads the global real estate industry in delivering data and information 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 60 offices in 14 countries worldwide, including Canada, UK, Australia, Asia and the United States. We operate five interrelated Business Units, bringing years 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.
Forward Looking Statements
Certain statements in this press release may constitute “forward-looking” statements, which involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Altus and its subsidiary entities to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. These risks and uncertainties are described in Altus’ publicly filed documents, including the Annual Information Form (which are available on SEDAR at www.sedar.com). Although the forward-looking statements contained in this press release are based upon what Altus believes to be reasonable assumptions, Altus cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and, except in accordance with applicable laws, Altus will not update or revise them to reflect new events or circumstances. Additionally, Altus undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Altus, its financial or operating results, or its securities.
Camilla BartosiewiczBartosiewiczVice President, Investor Relations