HALIFAX, NOVA SCOTIA--(Marketwire - Jan 10, 2013) - Royal Host Inc. (RYL.TO) (RYL-DBB.TO) (RYL-DBC.TO) (RYL-DBD.TO) ("Royal Host") announced today that it has entered into automatic securities purchase plans (the "Plans") with a broker in order to facilitate repurchases of all three series of its convertible debentures (the "Debentures") and common shares (the "Shares") under its previously announced normal course issuer bids ("NCIBs").
Purchases under the Plans will be made by Royal Host''s broker based on the parameters prescribed by the TSX, applicable Canadian securities laws and the terms of the parties'' written agreement. The Plans are intended for the purchase of Debentures and Shares only under the NCIBs.
Under the Plans, Royal Host''s broker may purchase Debentures and Shares under the NCIBs when Royal Host would ordinarily not be permitted to, due to its self-imposed regular quarterly blackout periods. The Plans commence on January 12, 2013 and expire with the expiry of the respective NCIBs being August 22, 2013 for the Shares and January 8, 2014 for the Debentures. Royal Host will issue a news release if the Plans are terminated or materially amended prior to the expiry date.
About Royal Host
Royal Host is a diversified hospitality company that delivers shareholder value through hotel ownership, investment and franchising. The Company''s hotels, which contain approximately 2,957 rooms, are located in five Provinces and Territories across Canada. Twenty of the Company''s hotels operate under internationally recognized brands such as Travelodge®, Super 8®, Holiday Inn®, Hilton®, Ramada® and Country Inns & Suites®. Three of the Company''s hotels are independently branded. In addition to its real estate holdings, the Company owns and operates the Travelodge Canada franchise business which is currently comprised of over 90 hotels across nine Provinces and Territories.
Royal Host''s common shares and convertible debentures are traded on the Toronto Stock Exchange under the trading symbols "RYL", "RYL.DB.D", "RYL.DB.B" and "RYL.DB.C" respectively.
This press release contains certain forward-looking statements relating, but not limited to, Royal Host''s operations, anticipated financial performance, business prospects, and strategies. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", or similar words suggesting future outcomes. Such forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such factors include, but are not limited to, economic, competitive, and lodging industry conditions. Royal Host disclaims any responsibility to update any such forward-looking statements except as required by Law.
This press release contains registered trademarks that are the exclusive property of their respective owners. None of the owners of these trademarks has any responsibility or liability for any information contained in this press release.
- Investment & Company Information
Chief Financial Officer