Huntingdon Capital Corp. announces completion of management transition
RICHMOND, BC, Aug. 30, 2013 /CNW/ - Huntingdon Capital Corp. ("Huntingdon" or the "Corporation") (TSX: HNT, HNT.DB and HNT.WT) announced today it has completed its management transition plan effective September 1, 2013.
Huntingdon had previously announced on June 21, 2013 that they had entered into a resignation agreement with President and Chief Executive Officer (CEO), Zachary George, which will take effect on September 1, 2013.
"Mr. George led Huntingdon through a critical period since 2010 and the Board of Directors extends its appreciation to him," said D. Greg Doyle, chairman of the audit committee. "Under his leadership, the company focused on creating shareholder value which resulted in a rapid reorganization that improved the balance sheet and cost structure. His experience in capital markets was essential in creating a growing asset management platform as well as creating significant liquidity for Huntingdon to fund future opportunities."
Effective September 1, 2013, Sandeep Manak will be promoted to President and CEO and Jaime Pattison will be promoted to Interim Chief Financial Officer.
Mr. George commented, "Mr. Manak and Ms. Pattison have made significant contributions to Huntingdon and are well positioned to lead a dynamic team that has developed a strong track record of performance."
The Board of Directors also nominated Mr. Manak to the Corporation's board effective September 1, 2013.
About Huntingdon Capital Corp.:
Huntingdon is a real estate operating company listed on the TSX (Common Shares: HNT; Debentures: HNT.DB; Warrants: HNT.WT). Huntingdon owns and manages a portfolio of 36 industrial, office, retail and aviation-related properties throughout Canada that have a total gross leasable area of 2.7 million square feet. In addition, Huntingdon owns an approximate 26% interest in FAM Real Estate Investment Trust (the "REIT") (TSX: F.UN, F.WT) and manages, on behalf of the REIT, a portfolio of 28 industrial, office, and retail properties throughout Canada that have a gross leasable area of 1.9 million square feet.
The Toronto Stock Exchange has not reviewed nor approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE Huntingdon Capital Corp.For further information:
Sandeep Manak, Director, President and Chief Executive Officer
Tel: (604) 249-5113
Fax: (604) 249-5101