/NOT FOR U.S. RELEASE OR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/
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.
SOURCE Huntingdon Real Estate Investment Trust
For further information:
Zachary R. George
Director, President and Chief Executive Officer
Tel: (604) 249-5119
Fax: (604) 249-5101