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TORONTO, Sept. 14, 2015 /CNW/ - Tricon Capital Group Inc. ("Tricon" or the "Company",TSX:TCN) announced today that Tricon will be added to the S&P/TSX Composite Index (the "Index") effective after the close of trading on September 18, 2015.
S&P/TSX Dow Jones Canadian Index Services announced Tricon's inclusion in the Index in a news release dated September 11, 2015.
"Over the past five years, we have focused on establishing Tricon as a leading diversified housing brand," said Gary Berman, President and Chief Executive Officer. "Inclusion in the S&P/TSX Composite Index represents an important milestone in Tricon's history and recognition of our efforts and success. This inclusion will increase our exposure to a broader range of potential investors and should provide enhanced trading liquidity for our shareholders."
The S&P/TSX Composite Index is the headline index in Canada and serves as an indicator of broad market activity in Canadian equity markets. It includes the largest and most liquid companies on the Toronto Stock Exchange, as measured by market capitalization and trading volume. Inclusion in the Index can potentially broaden participation in a company's investor base by enabling investment from index funds and similar investment vehicles.
About Tricon Capital Group Inc.
Tricon is a principal investor and asset manager focused on the residential real estate industry in North America with approximately $2.5 billion (C$3.2 billion) of assets under management. Tricon owns, or manages on behalf of third-party investors, a portfolio of investments in land and homebuilding assets, single-family rental homes, manufactured housing communities, and multi-family development projects. Our business objective is to invest for investment income and capital appreciation through our Principal Investment business and to earn fee income through our Private Funds and Advisory business. Since its inception in 1988, Tricon has invested in real estate and development projects valued at approximately US$16 billion. More information about Tricon is available at www.triconcapital.com.
This press release may contain forward-looking statements relating to expected future events, including statements regarding the Company's inclusion in the Index and the potential impact of such inclusion. Forward-looking information and statements are based on management's expectations, intentions and assumptions. If unknown risks arise, or if any of the assumptions underlying the forward-looking statements prove incorrect, actual results may differ materially from management expectations as projected in such forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.
SOURCE Tricon Capital Group Inc.
For further information: please contact: Gary Berman, President & Chief Executive Officer, Tel: 416-928-4122, Email: [email protected]; Wissam Francis, Chief Financial Officer, Tel: 416-323-2484, Email: [email protected]