WINNIPEG, June 11, 2013 /CNW/ - Temple Hotels Inc. ("Temple") (TSX: TPH) announces that today it sold 2,919,045 common shares ("Holloway Shares") of Holloway Lodging Corporation ("Holloway") at a price of $3.54 per share, representing approximately 15.7% of the issued and outstanding Holloway Shares.
As a result of the sale, neither Temple nor, to its knowledge, any joint actor of Temple, has beneficial ownership or exclusive or shared control over any other Holloway Shares or securities convertible into Holloway Shares.
The Holloway Shares were sold by Temple to accredited investors through the facilities of the Toronto Stock Exchange. The sale price was $3.54 per Holloway Share for an aggregate sale price of $10,333,419.
A report respecting the sale of Holloway Shares by Temple will be electronically filed with applicable Canadian securities regulatory authorities and will be available for viewing at www.sedar.com. A copy of the report (once filed) may be obtained by contacting Mr. Arni Thorsteinson, Chief Executive Officer of Temple, or Mr. Gino Romagnoli, Investor Relations, at (204) 475-9090.
Temple is a real estate investment company listed on the Toronto Stock Exchange under the symbols TPH (shares), TPH.DB.C, TPH.DB.D, TPH.DB.E and TPH.DB.F (convertible debentures). The objective of Temple is to provide shareholders with stable cash dividends from investment in a diversified portfolio of hotel properties and related assets. For further information on Temple, please visit our website at www.templehotels.ca.
The TSX has not reviewed or approved the contents of this press release and neither accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: Temple Hotels Inc.
For further information:
Arni Thorsteinson, Chief Executive Officer, or Gino Romagnoli, Investor Relations
Tel: (204) 475-9090, Fax: (204) 452-5505, Email: [email protected]