Huntingdon Capital Corp. announces the completion of the conversion of Huntingdon Real Estate Investment Trust to a Corporation
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RICHMOND, BC, Jan. 3, 2012 /CNW/ - Huntingdon Capital Corp. (TSX: HNT)(TSX: HNT.DB)(TSX: HNT.WT) ("Huntingdon" or the "Corporation") is pleased to announce that the conversion of Huntingdon Real Estate Investment Trust (the "Trust") to a corporation named Huntingdon Capital Corp. was completed effective December 31, 2011, pursuant to a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia). The Arrangement was approved by the Supreme Court of British Columbia on December 9, 2011.
The Corporation now directly and indirectly owns and operates the businesses which were previously owned and operated by the Trust and its subsidiaries prior to the closing of the Arrangement. The senior management and trustees of the Trust are now the senior management and directors of the Corporation.
Pursuant to the Arrangement, holders of trust units ("Units") of the Trust received one common share (a "Share") of the Corporation for each Unit held on the effective date. The Corporation also assumed all of the covenants and obligations of the Trust under its outstanding secured debentures (the "Debentures") and warrants (the "Warrants") and entered into supplemental trust indentures with respect to each of the foregoing. On the exercise of Warrants, warrantholders are now entitled to receive Shares, rather than Units, on the basis of one Share in lieu of each Unit which the holder was previously entitled to receive.
Trading of the Shares is expected to commence on or about January 5, 2012 on the Toronto Stock Exchange under the symbol "HNT", at which time the Units ("HNT.UN") will discontinue trading. The Debentures and Warrants continue to be listed on the TSX under the symbols "HNT.DB", and "HNT.WT", respectively.
About the Corporation
The Corporation owns, directly or indirectly, 75 income producing office, industrial, retail and standalone parking lot properties, including the aviation‐related facilities at five of Canada's leading international airports that have a total gross leasable area of 5.5 million square feet; and two land parcels held for development, with other development and expansion opportunities within the portfolio. Further information can be found in the disclosure documents filed by the Corporation with the securities regulatory authorities, available at www.sedar.com.
This news releases contains forward-looking statements relating to the commencement of trading of the Corporation's common shares on the Toronto Stock Exchange. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond the Corporation's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. These factors include those set forth in other public filings. In addition, these forward-looking statements relate to the date on which they are made. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. More information about these risks and uncertainties can be found in regulatory filings available at www.sedar.com.For further information:
Zachary R. George
Director, President and Chief Executive Officer
Tel: (604) 249-5119
Fax: (604) 249-5101