Melcor Developments Ltd. Announces Commencement of Strategic Process
09 1월 2013 - 3:38AM
Marketwired
Melcor Developments Ltd. ("Melcor" or the "Company") (TSX:MRD)
today announced that it has commenced a strategic process to
advance its business interests through the creation of a Real
Estate Investment Trust ("REIT") in which the Company would
maintain a significant interest. The Company is considering vending
a substantial portion of its income-producing assets into this new
vehicle. This process would provide capital to the Company, and
allow it to grow and continue to pursue numerous value creating
opportunities in strong western Canadian economies. A Special
Committee of independent Directors of the Board, Chaired by Gordon
Clanachan, has been constituted to oversee the strategic
process.
The Company cautions that the Board of Directors has not set any
deadline for completing any transaction, and that any such strategy
may, or may not, be executed. Accordingly, there can be no
assurance that the Company will ultimately pursue, or complete, any
transactions, and investors, or potential investors, should not
trade based on this information.
The Company has engaged RBC Capital Markets and CIBC as its
financial advisors and Bryan & Company LLP as its legal advisor
with respect to this process.
About Melcor Developments Ltd.
Melcor is a diversified real estate development and management
company with a rich heritage of integrity and innovation in real
estate since 1923.
Through four integrated operating divisions, Melcor manages the
full life cycle of real estate development: from acquiring raw
land, to community planning, to construction and development, to
managing leasable office, retail and residential sites. We develop
and manage mixed-use residential communities, business and
industrial parks, office buildings, retail commercial centres and
golf courses.
Our headquarters are in Edmonton, Alberta, with regional offices
throughout Alberta and British Columbia. Our developments span
western Canada and the US. We have been publicly traded since 1968
(TSX:MRD).
Contacts: Melcor Developments Ltd. - Business Contact Ralph B.
Young Chief Executive Officer (780) 423-6931 (780) 426-1796
(FAX)info@melcor.ca Melcor Developments Ltd. - Investor Relations
Jonathan Chia, C.A. Vice-President, Finance and CFO (780) 423-6931
(780) 426-1796 (FAX)info@melcor.ca
Melcor Developments (TSX:MRD)
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Melcor Developments (TSX:MRD)
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