TORONTO, Feb. 4, 2014 /CNW/ - As disclosed earlier today, Orange
Capital, LLC ("Orange Capital") formally requisitioned the board of trustees (the "Board") of InnVest Real Estate Investment Trust ("InnVest") to call a special meeting of unitholders for the purpose of
reconstituting the Board with seven new independent trustees (the "Requisition"). The nominees proposed by Orange Capital are Robert Gemmell,
Heather-Anne Irwin, Daniel Lewis, Robert McFarlane, Dr. Anthony Melman,
Edward Pitoniak, and Robert Wolf (the "Nominees"). While the Nominees are independent of Orange Capital, the Nominees
may be considered to be acting jointly or in concert with Orange
Capital and Orange Capital Master I, Ltd., an investment fund managed
by it ("OCMI", together with Orange Capital, "Orange"). Accordingly, Orange is updating its early warning report dated
January 30, 2014 to reflect this.
Other than Daniel Lewis, the Nominees beneficially own, or exercise
control or direction over, a total of 154,900 units of InnVest,
representing approximately 0.17% of the outstanding units based on
93,809,805 units issued and outstanding as of November 6, 2013 as
stated by InnVest in its management discussion & analysis for the third
financial quarter ended September 30, 2013 (the "Outstanding InnVest Units"). By virtue of his role as Managing Partner of Orange Capital, Mr.
Lewis has control or direction over all of the units beneficially owned
by Orange Capital, which are held by OCMI. Together, Orange and the
Nominees beneficially own, or exercise control or direction over, a
total of 9,691,300 units representing approximately 10.33% of the
Outstanding InnVest Units.
Orange and the Nominees hold the units of InnVest for investment
purposes. Depending on market and other conditions, Orange and/or the
Nominees may determine, from time to time, to increase or decrease
their respective ownership, or control and direction over, securities
About Orange Capital, LLC
Orange Capital is a New York based investment firm. The firm is a
value-oriented investor in event-driven securities. The firm allocates
across the capital structure on an opportunistic basis. Orange Capital
was co-founded in 2005 by Daniel Lewis and Russell Hoffman. Prior to
founding the firm, Orange Capital's portfolio manager, Daniel Lewis,
was a director with Citigroup's Global Special Situations Group.
Neither the issuance of this news release nor the filing by Orange
Capital of an "early warning" report required to be filed in accordance
with applicable Canadian securities laws is an admission that any
individual or entity named or referred to in this news release or in an
"early warning" report of Orange owns or controls any described
securities or is a joint actor with another individual or entity named
or referred to in this news release.
The address of Orange and other contact information is set forth below.
For further information, including to obtain a copy, once filed, of the
"early warning" report required to be filed in accordance with
applicable Canadian securities laws, contact Orange Capital at the
address specified below.
SOURCE: Orange Capital, LLC
For further information:
Orange Capital, LLC
1370 Avenue of the Americas
New York, NY 10019
Attn: Daniel Lewis, Managing Partner