IBI Group Inc. announces amendment of 7.0% convertible debentures
TORONTO, July 23, 2014 /CNW/ - IBI Group Inc. ("IBI" or the "Company") (TSX: IBG) is pleased to announce that it has entered into a supplemental trust indenture with CIBC Mellon Trust Company, the trustee of its 7.0% convertible unsecured subordinated debentures (the "Debentures"), to give effect to amendments to the Debentures that were approved at the special meeting of debentureholders held July 16, 2014. As a result of the amendments, the maturity date of the Debentures has been extended from December 31, 2014 to June 30, 2019 for all debentureholders, and the conversion price has been reduced to $5.00 per share from $19.17 per share for debentureholders who delivered and did not withdraw a valid proxy voting for the debenture amendments prior to the proxy deadline and elected Option B and for debentureholders who did not deposit a proxy, abstained from voting or voted against the debenture amendments.
About IBI Group Inc.:
The Company is a TSX listed corporation and its common shares trade under the symbol "IBG".
IBI Group is a globally integrated architecture, planning, engineering, and technology firm with over 2,600 professionals around the world. For more than 40 years, our dedicated professionals have helped clients create livable, sustainable, and advanced urban environments. We are one of the largest architecture firms in the world, and more than 300 of our staff architects, planners, designers and engineers are LEED accredited.
From high-rises to industrial buildings, schools to state-of-the-art hospitals, transit stations to highways, airports to toll systems, bike lanes to parks, we design every aspect of a truly integrated city for people to live, work, and play.
We organize our expertise into three areas:
- Intelligence: systems designer, software development.
- Buildings: building architecture, building engineering (mechanical, structural, electrical).
- Infrastructure: planning, urban design, landscape architecture, transportation, and engineering.
Our collaborative and combined approach focuses not only on creating the best solutions today, but also creating the right solutions for tomorrow.
We believe cities must be designed with intelligent systems, sustainable buildings, efficient infrastructure, and a human touch.
At IBI, we're defining the cities of tomorrow.
SOURCE IBI Group Inc.For further information:
IBI Group Inc.
230 Richmond Street West, 5th Floor
Toronto, ON M5V 1V6
Tel: 416-596-1930, Fax: 416-596-8024
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