RICHMOND, BC, Aug. 27, 2012 /CNW/ - Huntingdon Capital Corp. (the "Corporation" or "Huntingdon") (TSX: HNT, HNT.DB and HNT.WT) today announced the mailing of circular materials in respect of the substantial issuer bid (the "Offer") for the Corporation's common shares.
Huntingdon will offer to repurchase for cancellation up to $15 million in value of its outstanding common shares from shareholders. The Offer will proceed by way of a modified "Dutch Auction" and the range of Offer prices will be $12.25 to $13.25 per share.
The Offer expires at 5:00 pm Eastern Standard Time on October 1, 2012.
Huntingdon is listed on the Toronto Stock Exchange under the symbols HNT (Shares), HNT.DB (Debentures), and HNT.WT (Warrants). Huntingdon owns, directly or indirectly, 68 income producing office, industrial, retail and standalone parking lot properties, including aviation-related facilities at five of Canada's leading international airports with a total gross leasable area of 4.5 million square feet; and two land parcels held for development, with other development and expansion opportunities within the portfolio.
Certain statements contained in this press release may constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "plan", "expect", "may", "will", "intend", "should", and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These risks and uncertainties include, but are not limited to, general and local economic and business conditions; the financial condition of our tenants; our ability to refinance maturing debt; leasing risks, including those associated with the ability to lease vacant space; and interest rate fluctuations. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. The forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations including, but not limited to, the risks detailed from time to time in Huntingdon's filings with Canadian provincial securities regulators, including its most recent annual information form and management's discussion and analysis. Huntingdon cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and Huntingdon does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change, except as required by applicable law.
The Toronto Stock Exchange has not reviewed nor approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE: Huntingdon Capital Corp.
For further information:
Zachary R. George, Director, President and Chief Executive Officer
Tel: (604) 249-5119
Fax: (604) 249-5101