TORONTO, Sept. 6, 2016 /CNW/ - GMP Capital Inc. (GMP) (TSX: GMP) today announced, at the request of Market Surveillance on behalf of the TSX, that it is aware of a newspaper article regarding a possible transaction involving Richardson GMP Limited (Richardson GMP).
As previously disclosed by GMP, the Richardson GMP shareholders agreement contains a shareholder liquidity mechanism which could result in a transaction. The material aspects of the Richardson GMP liquidity mechanism are summarized in GMP's annual information form dated March 10, 2016 (a copy of which is available under GMP's profile at www.sedar.com).
GMP, in cooperation with its fellow shareholders of Richardson GMP, continuously evaluates potential alternatives for its interest in Richardson GMP. Neither GMP's management nor its Board of Directors has made any decision regarding a transaction involving Richardson GMP or the timing thereof.
GMP does not intend to provide further comment except as required by applicable securities laws or the policies of the Toronto Stock Exchange.
This press release contains "forward-looking information" as defined under applicable Canadian securities laws. This information includes, but is not limited to, information concerning our interest in Richardson GMP, the Richardson GMP shareholder liquidity mechanism and possible transactions involving Richardson GMP. Forward-looking information generally can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans" or "continue", or similar expressions suggesting future outcomes or events. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Forward-looking information is not a guarantee of future performance. Any possible transaction involving Richardson GMP (whether pursuant to the shareholder liquidity mechanism or otherwise) would be subject to various risks and uncertainties, including that GMP may be required to participate in a transaction on terms that are not as favourable to GMP as potential alternative transactions, that the conditions to closing would not be satisfied or waived or that the transaction would otherwise not be consummated. Except as required by applicable law, management and GMP's Board of Directors undertake no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
ABOUT GMP CAPITAL INC.
GMP is a leading independent diversified financial services firm headquartered in Toronto, Canada, providing a wide range of financial products and services to a global client base that includes corporate clients, institutional investors and high-net-worth individuals in two integrated reporting segments. The Capital Markets segment provides investment banking, including advisory and underwriting services, institutional sales and trading and research through offices located in Toronto, Montreal, Calgary, New York, Houston, Miami, Dallas, Hong Kong and Beijing. Wealth Management consists of GMP's non-controlling ownership interest in Richardson GMP Limited. Richardson GMP Limited, Canada's largest independent wealth management firm, is focused on providing exclusive and comprehensive wealth management and investment services delivered by an experienced team of investment professionals. GMP is listed on the Toronto Stock Exchange under the symbol "GMP". For further information, please visit our corporate website at gmpcapital.com.
SOURCE GMP Capital Inc.
For further information: GMP Capital Inc., Rocco Colella, Director, Investor Relations, 145 King Street West, Suite 300, Toronto, Ontario M5H 1J8, Tel: (416) 941-0894, Fax: (416) 943-6175, [email protected] or [email protected]