Press release from CNW Group
Tricon Capital Group Announces Share Purchases by Chairman and CEO
Wednesday, July 04, 2012
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES./
TORONTO, July 4, 2012 /CNW/ - Tricon Capital Group Inc. (TSX: TCN) ("Tricon" or the "Company"), one of North America's leading residential real estate investment companies, announced today that on June 27, 2012, David Berman, the Chairman and Chief Executive Officer of Tricon, indirectly acquired, through the facilities of the Toronto Stock Exchange, control or direction over an aggregate of 15,800 common shares of Tricon ("Common Shares"). These Common Shares represent approximately 0.0005% of the 31,167,971 Common Shares currently issued and outstanding. After giving effect to these purchases, David Berman now exercises control or direction over an aggregate of 3,830,355 Common Shares of Tricon, representing approximately 12.29% of the Common Shares currently issued and outstanding.
Of the 15,800 Common Shares acquired, 500 Common Shares were purchased at a price of $4.09 per Common Share, 10,700 Common Shares were purchased at a price of $4.10 per Common Share, and 4,600 Common Shares were purchased at a price of $4.15 per Common Share.
David Berman indirectly acquired the Common Shares for investment purposes and may, from time to time on an individual or joint basis, directly or indirectly, acquire additional securities of Tricon, dispose of some or all of the existing or additional securities of Tricon he holds or will hold, or may continue to hold his current position.
Further information (including a copy of the early warning report to be filed with Canadian securities regulators on SEDAR at www.sedar.com in connection with this transaction) can be obtained by contacting:
Tricon Capital Group Inc.
June Alikhan, Chief Financial Officer
1067 Yonge Street
Toronto, Ontario M4W 2L2
About Tricon Capital Group Inc.
Founded in 1988, Tricon is one of North America's leading residential real estate investment companies with approximately $1.2 billion of assets under management. Tricon provides financing to local operators or developers in select markets in the United States and Canada, with a primary focus on for-sale housing in growing markets. Since inception, Tricon has invested in approximately 150 transactions for development projects valued at more than $10 billion. More information about Tricon is available at www.triconcapital.com.
This press release may contain forward-looking statements relating to expected future events and financial and operating results and projections of the Company, including statements regarding future plans, objectives or economic performance that involve risks and uncertainties. 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. Examples of such risks include, but are not limited to, the risks disclosed in the Company's final long form prospectus dated May 14, 2010, the risks disclosed in the Company's final short form prospectus dated April 24, 2012 and the risks described in the Company's continuous disclosure materials from time-to-time, as available on SEDAR at www.sedar.com. 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.
For further information:
Chief Financial Officer