HNZ Group announces the combination of its trading symbols on the Toronto Stock Exchange

MONTREAL, May 12, 2016 /CNW Telbec/ - HNZ Group Inc. (TSX: HNZ.A, HNZ.B) (the "Corporation"), an international provider of helicopter transportation and related support services, announced today that it is taking steps to improve the liquidity for its variable voting shares by aggregating the trading of its common and variable voting shares under a single ticker on the Toronto Stock Exchange.

The new ticker will be "HNZ" and trading under this symbol will begin on or about May 19, 2016. The common and variable voting shares currently trade under the symbols HNZ.A and HNZ.B, respectively.

Although the common (HNZ.A) and variable voting (HNZ.B) have traded within a relatively narrow price range, the variable voting (HNZ.B) shares have historically had lower trading volumes and commensurate pricing. Steady Canadian demand has resulted in the majority of trading occurring in the common (HNZ.A) shares and lower trading volumes for the non-Canadian variable voting (HNZ.B) shares. By combining the two ticker symbols, the Corporation aims to facilitate trading, to provide uniform pricing for its securities, and to improve overall liquidity.

The common (HNZ.A) and variable voting (HNZ.B) shares are similar in all respects except for differences which allow the Corporation to comply with the foreign ownership restrictions of the Canada Transportation Act (the "CTA"). These restrictions limit non-Canadian ownership and control of the Corporation's voting shares to 25% of the voting interests. Canadian shareholders hold common (HNZ.A) shares and non-Canadian shareholders hold variable voting (HNZ.B) shares, the voting rights of which may in certain circumstances differ from those of the common (HNZ.A) shares to facilitate compliance with the CTA.

The articles, by-laws, voting procedures, and shareholder rights plan of the Corporation are unaffected by this change. In addition, the Corporation has obtained a decision from the Autorité des marchés financiers, as principal regulator, and the securities regulatory authorities in the other provinces and territories of Canada, which allows for the common (HNZ.A) and variable voting (HNZ.B) shares to be considered as a single class, instead of on a class-by-class basis, for the purposes of certain early warning reporting, take-over bid and continuous disclosure requirements.

The Corporation will continue to monitor the number of common and variable voting shares outstanding and to require shareholders who wish to vote at shareholder meetings to provide a declaration of their status as a Canadian or non-Canadian.

After the change to a single ticker, both classes of shares will trade under the symbol "HNZ", bear CUSIP number 40425A308 and will be designated for purposes of trading on the TSX and reporting in brokerage accounts as "Common and Variable Voting Shares" of the Corporation.

A copy of the decision and additional information relating to the terms of the common (HNZ.A) shares and variable voting (HNZ.B) shares which is included in the Corporation's Annual Information Form are available on SEDAR at


HNZ Group is an international provider of helicopter transportation and related support services with operations in Canada, New Zealand, Australia, Norway, Southeast Asia and Antarctica. The Corporation operates in excess of 115 helicopters to support offshore and onshore charter activities. Offshore operations worldwide are provided through HNZ Global and partner Norsk Helikopterservice while onshore charter operations are managed by Canadian Helicopters in Canada, Asia-Pacific and Antarctica. Clients consist of multinational companies and government agencies including offshore and onshore oil and gas, mineral exploration, military support, hydro and utilities, forest management, construction, air ambulance and search and rescue. In addition to charter services, it provides third-party repair and maintenance services and flight training, including the internationally recognized HNZ Topflight advanced training centre in Penticton, British Columbia. HNZ Group is a publically traded company on the Toronto Stock Exchange (TSX: HNZ.A, HNZ.B) and is headquartered near Montreal, Canada employing approximately 600 personnel from 35 locations around the world.


Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Although the forward-looking statements contained in this press release are based upon what management of the Corporation believes are reasonable assumptions, the Corporation cannot assure investors that actual results will be consistent with these forward-looking statements. The assumptions on which the forward-looking statements are based include, but are not limited to, general economic trends, industry trends, current contractual and business relationships, capital markets and the current competitive, governmental, regulatory and legal environment.

These statements are not based on historical facts but instead reflect current expectations of management regarding future events and speak only as of the date of this press release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed in this press release. These forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, unless required by applicable laws.



For further information: HNZ Group Inc., Matt Wright, CFA, MBA, Vice President and Chief Financial Officer, Tel.: 780-429-6903


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