TORONTO, Feb. 11, 2014 /CNW/ - Bloom Investment Counsel, Inc. ("Bloom")
commented today on Orange Capital LLC's recent announcement aimed at
enhancing unitholder value of InnVest REIT (TSX: INN.UN) and generally
supports Orange Capital's ("Orange") plans. While there is no
assurance as to the outcome of any discussions between Orange Capital
and InnVest REIT, should Orange's current proposal become a final plan
Bloom would be supportive of Orange Capital's proposals as laid out on
February 4, 2014. Strong corporate governance has always been an
important investment consideration for Bloom. Bloom will act in what
it believes is the best interest of its clients and vote accordingly
should a unitholder vote be requisitioned.
Bloom on behalf of its clients holds approximately 4% of the issued and
outstanding trust units of InnVest REIT.
Bloom holds the units of InnVest for investment purposes. Depending on
market and other conditions, Bloom may determine, from time to time, to
increase or decrease their respective ownership, or control and
direction over, securities of InnVest.
About Bloom Investment Counsel, Inc.
Bloom Investment Counsel, Inc. was established in 1985 and specializes
in the management of segregated investment portfolios for wealthy
individuals, corporations, institutions and trusts. In addition to its
conventional investment management business Bloom currently manages
specialty high-income equity portfolios comprised of dividend paying
common equity securities, income trusts and real estate investment
trusts. Bloom is also the Investment Manager of 5 TSX listed Closed End
SOURCE: Bloom Investment Counsel Inc.
For further information:
Bloom Investment Counsel, Inc., 416-861-9941