RICHMOND, BC, May 30, 2013 /CNW/ - Huntingdon Capital Corp. ("Huntingdon") (TSX: HNT, HNT.DB and HNT.WT) announced today that the board of directors (the "Board") has received and accepted the resignations from Mssrs. Gary Goodman, Scott Hutcheson, and David Lorber.
Commenting on today's announcement, Huntingdon's President and Chief Executive Officer, Mr. Zachary George, stated "Mssrs. Goodman, Hutcheson, and Lorber have provided strategic leadership, and created tremendous value for shareholders. While at Huntingdon, their many accomplishments included the reverse takeover of IAT Air Cargo Facilities Income Fund, the internalization of management, dramatic deleveraging, a tax-efficient corporate conversion, the strategic IPO of a new REIT and an approximate 130% return for shareholders over the last 3 years. We wish them success in their future endeavours, and remain excited about our team and the opportunity for future value creation for Huntingdon shareholders".
The Board has elected Mr. Zachary George to serve as Huntingdon's Chairman and has also added Mr. Matthew Goldfarb to the Board. Mr. Goldfarb will be nominated for election to the Board at the upcoming annual and special meeting of shareholders of Huntingdon to be held on June 6, 2013.
Mr. Goldfarb currently serves as Chief Executive Officer of Xinergy Ltd. (TSX: XRG), a Central Appalachian coal producer, having previously served as Vice Chairman and lead independent director of the company. Mr. Goldfarb also served as Portfolio Manager of Fourth Street Holdings, L.L.C., a private investment firm, from June 2010 until July 2011. From January 2009 until January 2010, Mr. Goldfarb managed a leveraged loan trading business at Pali Capital, Inc., a boutique investment banking firm. Previously, Mr. Goldfarb was a Director and Senior Investment Analyst of The Blackstone Group/GSO Capital Partners from January 2007 until December 2008. Mr. Goldfarb currently serves as a director of Fisher Communications, Inc. (NASDAQ: FSCI), and previously served on the boards of directors of CKE Restaurants, Inc., and James River Coal Company (NASDAQ: JRCC), a regional coal mining and processing business.
About Huntingdon Capital Corp.
Huntingdon is a real estate operating company listed on the TSX (Common Shares: HNT; Debentures: HNT.DB; Warrants: HNT.WT). Huntingdon owns and manages a portfolio of 36 industrial, office, retail and aviation-related properties throughout Canada that have a total gross leasable area of 2.7 million square feet. In addition, Huntingdon owns an approximate 30% interest in FAM Real Estate Investment Trust (the "REIT") (TSX: F.UN, F.WT) and manages, on behalf of the REIT, a portfolio of 27 industrial, office, and retail properties throughout Canada that have a gross leasable area of 1.7 million square feet.
SOURCE: Huntingdon Capital Corp.
For further information:
Zachary R. George, Chairman, Director, President and Chief Executive Officer
Tel: (604) 249-5119
Fax: (604) 249-5101