IBI Group Inc. Hosts Second Conference Call to Discuss the Revised Proposal to Amend Terms of 7.0% Convertible Debentures

  • Management to address common questions about the proposal raised by holders.

TORONTO, June 11, 2014 /CNW/ - IBI Group Inc. ("IBI" or the "Company") (TSX: IBG) will hold an informational conference call for debentureholders and the analyst community to discuss the proposed amendment of the Company's 7.0% convertible unsecured subordinated debenture maturing in 2014, which, if approved, will extend the maturity date to 2019. The proposal represents IBI's best effort to secure and create value for all stakeholders.

The proposal incorporates the constructive feedback IBI and its advisors have received and reflect the Company's best efforts to accommodate those Debentureholders who prefer a larger consent fee and those who want greater exposure to and participation in the turnaround underway at IBI.

Subject to the passage of the Amendment by Debentureholders, the two attractive options available to Debentureholders are:

  • "Option A" Debentureholders receive a consent fee, consisting of an unsecured, non-convertible promissory note equal to $195.65 per $1,000 principal amount of Debentures, payable December 31, 2016 and bearing interest at the rate of 7.0% per annum and payable on maturity; or
  • "Option B" Debentureholders receive a consent fee, consisting of an unsecured, non-convertible promissory note equal to $86.96 per $1,000 principal amount of Debentures, payable December 31, 2016 and bearing interest at the rate of 7.0% per annum and payable on maturity and the reduction of the conversion price for the Debentures to $5.00 per common share from $19.17 per common share.

Should the debenture amendment fail to pass, the Company could be forced to convert the debentures into common shares which will likely result in significant adverse consequences for IBI's business. IBI's ability to retain key personnel, many of whom are currently significant shareholders of IBI, may be severely diminished.

The conference call for debentureholders and the analyst community will take place on Monday June 16, 2014 at 10:00 a.m. Eastern Time. Scott Stewart, Chief Executive Officer, and Stephen Taylor, Chief Financial Officer, will review and clarify the revised proposal and enhanced incentives. IBI will discuss the offer to debentureholders in detail in order to provide clarity and to explain the facts behind the process followed in developing the offer.

Following the call, IBI encourages debentureholders who still have questions regarding the amendments to contact Scott Stewart, CEO or Stephen Taylor, CFO at 416-596-1930.

To participate in the conference call, please dial in before 10:00 a.m. ET to 1-416-981-9001 for local and 1-800-732-8470 for toll-free North American access. For international access please dial 1-212-271-4651.

An audio replay of the call will be available for 14 days, by dialing 416-626-4100 for local and international access or 1-800-558-5253 for toll-free international access, pass code 21719960  followed by the number sign on your telephone keypad. 

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:

  1. Intelligence: systems designer, software development.
  2. Buildings: building architecture, building engineering (mechanical, structural, electrical).
  3. 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:

Stephen Taylor
IBI Group Inc.
230 Richmond Street West, 5th Floor
Toronto, ON M5V 1V6
Tel: 416-596-1930, Fax: 416-596-8024

For assistance in voting or to receive replacement proxy materials:

CST Phoenix Advisors
North American Toll Free: 1-800-332-6179
Banks, Brokers, and Collect Calls: 201-806-2222
Toll Free Facsimile: 1-888-509-5907
Email: inquiries@phoenixadvisorscst.com

Media:

Riyaz Lalani
Bayfield Strategy, Inc.
416-907-9365
rlalani@bayfieldstrategy.com

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IBI Group Inc.

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