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Name | Symbol | Market | Type |
---|---|---|---|
Lakeview Hotel Investment Corp | TSXV:LHR.DB.C | TSX Venture | Debenture |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 7.10 | 4.01 | 7.39 | 0 | 01:00:00 |
WINNIPEG, Nov. 29, 2016 /CNW/ - Lakeview Hotel Investment Corp ("LHIC") announced today that the previously announced meetings of the holders of Series C Redeemable Subordinated Debentures (the "Series C Debentures") and the holders of Series D Redeemable Subordinated Debentures (the "Series D Debentures", and together with the Series C Debentures, the "Debentures") was held today.
LHIC is pleased to announce that the holders of the Series C Debentures have approved the resolution (the "Series C Resolution") which was placed in front of them at the meeting as more specifically set out in the Management Information Circular dated October 27, 2016, which was previously filed on SEDAR. The Series C Resolution passed with 89.89% of the holders of Series C Debentures present in person or represented by proxy at the meeting voting in favour. The Series C Resolution authorizes LHIC to make certain amendments to the trust indenture governing the Series C Debentures as set out in the aforementioned Management Information Circular and as summarized below:
In order to effect the amendments to the Series C Debentures, LHIC will be required to enter into a supplemental trust indenture with the trustee for the Series C Debentures, CIBC Mellon Trust Company. The amendments to the Series C Debentures will be effective on or about November 28, 2016.
There is currently $18,326,000 principal amount of Series C Debentures issued and outstanding. Each Series C Debenture has a face value of $1,000.00. The Series C Debentures are listed on the TSX Venture Exchange under the trading symbol "LHR.DB.C".
LHIC is further pleased to announce that the holders of the Series D Debentures have approved the resolution (the "Series D Resolution") which was placed in front of them at the meeting as more specifically set out in the Management Information Circular dated October 27, 2016, which was previously filed on SEDAR. The Series D Resolution passed with 86.29% of the holders of Series D Debentures present in person or represented by proxy at the meeting voting in favour. The Series D Resolution authorizes LHIC to make certain amendments to the trust indenture governing the Series D Debentures as set out in the aforementioned Management Information Circular and as summarized below:
In order to effect the amendments to the Series D Debentures, LHIC will be required to enter into a supplemental trust indenture with the trustee for the Series D Debentures, CIBC Mellon Trust Company. The amendments to the Series D Debentures will be effective on or about November 28, 2016.
There is $10,160,000 principal amount of Series D Debentures issued and outstanding. Each Series D Debenture has a face value of $100.00. The Series D Debentures are listed on the TSX Venture Exchange under the trading symbol "LHR.DB.D".
Lakeview Hotel Investment Corp. is listed on the TSX Venture Exchange under the symbol "LHR". Lakeview Hotel Investment Corp. receives income from ownership, management and licensing of hotel properties.
The TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Lakeview Hotel Investment Corp
Copyright 2016 Canada NewsWire
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