Huntingdon Capital Corp. completes substantial issuer bid resulting in increased net book value per share

RICHMOND, BC, March 12, 2013 /CNW/ - Huntingdon Capital Corp. (the "Huntingdon" or "Corporation") (TSX: HNT) announced today the results of its substantial issuer bid by way of modified "Dutch Auction" (the "Offer"), pursuant to which the Corporation offered to purchase for cancellation up to $6.0 million in value of its outstanding common shares from shareholders at a price of not less than $12.00 per common share and not more than $13.00 per common share.  The Offer expired at 5:00 p.m. (Toronto time) on March 8, 2013.

Based on the final report provided by the depositary for the Offer, a total of 714,858 common shares were validly deposited and not withdrawn under the Offer.  Pursuant to the terms of the Offer, the Corporation has determined the purchase price to be $12.95 per common share.  The Corporation will take up 463,320 common shares for aggregate consideration of approximately $6.0 million. These common shares represent approximately 4% of the total common shares issued and outstanding as of March 8, 2013 and, following the purchase and cancellation of these common shares, approximately 10,929,689 common shares will remain outstanding. The issuer bid was an accretive transaction for remaining shareholders as the pro forma net book value per common share as at September 30, 2012 increased by $0.10 per common share to $15.26 per common share.

Take-up and payment for all common shares validly deposited and accepted for purchase under the Offer will be made as soon as practicable in accordance with the Offer.

The full details of the Offer are described in the Corporation's offer to purchase and issuer bid circular dated January 31, 2013, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which are available on SEDAR at www.sedar.com.

The Corporation's normal course issuer bid, which was suspended with the announcement of the Offer, is expected to resume on or about March 13, 2013 in accordance with applicable securities laws.

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.

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.

Zachary R. George, Director, President and Chief Executive Officer
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