Aston Hill Announces Normal Course Issuer Bid

CALGARY, Dec. 20, 2011 /CNW/ - Aston Hill Financial Inc. ("Aston Hill" or the "Company") (TSX: AHF) (TSX: AHF.DB) announced today that the Toronto Stock Exchange (the "TSX") has approved its notice of intention to make a normal course issuer bid for a portion of its common shares ("Common Shares") and 6% extendible convertible unsecured subordinated debentures ("Convertible Debentures").  The normal course issuer bid will be made in accordance with the requirements of the TSX.  Aston Hill may begin to purchase Common Shares and Convertible Debentures on or about December 22, 2011, subject to Company blackout periods.

As of December 13, 2011, approximately 72,625,959 Common Shares and $40,250,000 principal amount of Convertible Debentures were outstanding.  Pursuant to the normal course issuer bid, Aston Hill intends to acquire up to 3,700,000 Common Shares and $3,900,000 principal amount of Convertible Debentures in the 12-month period commencing December 22, 2011 and ending on December 21, 2012, which figures represent 9.5% and 9.8%, respectively, of the "public float" as of December 13, 2011.  Purchases under the normal course issuer bid will be made by Aston Hill through the facilities of the TSX and in accordance with applicable regulatory requirements. The price that Aston Hill will pay for any Common Shares or Convertible Debentures will be the market price of such Common Shares or Convertible Debentures at the time of acquisition.

The average daily trading volume (the "ADTV") for the period of November 7, 2011 (the date on which the securities of the Company were listed on the TSX) to December 13, 2011 was 41,356 Common Shares and $24,815 principal amount of Convertible Debentures.  Pursuant to the TSX rules, the maximum number of securities that may be repurchased during the same trading day is 25% of the ADTV, being 10,339 Common Shares and $6,204 principal amount of Convertible Debentures, in each case subject to Aston Hill's ability to make one block purchase of each of the Common Shares and Convertible Debentures per calendar week that exceed such limits. Any Common Shares and Convertible Debentures that are purchased under the normal course issuer bid will be cancelled upon their purchase by Aston Hill. Aston Hill will fund the purchases through available cash.

Aston Hill believes that the repurchase by the Company of a portion of outstanding Common Shares and Convertible Debentures is an appropriate use of available cash and is in the best interests of Aston Hill and its securityholders.

Aston Hill is a diversified asset management company with a suite of retail mutual funds, private equity funds, hedge funds and segregated institutional funds. The Company is also engaged in oil and gas property management. Aston Hill has offices in Calgary and Toronto.

Forward-Looking Statements: This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release.  Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.

For a detailed description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's annual financial statements and management discussion and analysis for the year ended December 31, 2010, both of which are available at www.sedar.com.  The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking statements.

SOURCE Aston Hill Financial Inc.

For further information:

Eric Tremblay       Larry Titley
Chief Executive Officer      Vice President and CFO 
Aston Hill Financial Inc.      Aston Hill Financial Inc. 
(403) 770-4817       (403) 770-4808

 


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