Ms.
Camilla Bartosiewicz reports
ALTUS GROUP ANNOUNCES EARLY REDEMPTION OF 6.75% CONVERTIBLE DEBENTURES
Altus Group Ltd. plans to redeem all of its outstanding 6.75 per cent convertible debentures. The debentures, which have a maturity date of June 30, 2017, will be redeemed by the company early on May 3, 2017, in accordance with the terms of the debenture trust indenture. The debentures are listed on the Toronto Stock Exchange under the symbol AIF.DB.A. The aggregate principal amount of the debentures outstanding is $5,365,000.
On the redemption date, Altus Group will either pay holders that wish to redeem their debentures a redemption price equal to $1,000 for each $1,000 principal amount of debentures and all accrued and unpaid interest up to but excluding the redemption date, or, for those holders opting to convert their debentures, it will issue 100 common shares per $1,000 of principal amount of debentures.
Altus Group intends to use cash on hand to pay the redemption price of the redeemed debentures. However, assuming that all debenture holders exercise their right to convert, 536,500 common shares will be issued from treasury.
Formal notice of redemption is being delivered to the debenture holders through the debenture trustee, BNY Trust Company of Canada, in accordance with the trust indenture. Beneficial holders of the debentures are encouraged to contact their investment dealer to co-ordinate the surrender of their debentures or if they have any questions about the redemption. No action is required to be taken by holders of the debentures if they wish to have their debentures redeemed in cash.
About Altus Group Ltd.
Altus Group is a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry. The company has approximately 2,300 employees around the world, with operations in North America, Europe and Asia-Pacific. Altus Group pays a quarterly dividend of 15 cents per share.
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