Altus to redeem remaining 6.75% convertible debentures on May 3

By Marisa Wong

Morgantown, W.Va., March 31 – Altus Group Ltd. said it plans to redeem all of its outstanding 6.75% convertible debentures due June 30, 2017 on May 3.

The aggregate principal amount of the debentures outstanding is C$5,365,000.

The redemption price is par plus accrued interest up to but excluding the redemption date.

Holders who choose to convert their debentures will receive 100 common shares per C$1,000 of principal amount.

Altus said it intends to use cash on hand to pay the redemption price. However, assuming that all debentureholders exercise their conversion right, 536,500 common shares will be issued from treasury.

BNY Trust Co. of Canada is the trustee.

Altus is a Toronto-based provider of independent advisory services, software and data solutions to the global commercial real estate industry.

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