|By Marketwired .||
|February 12, 2014 10:52 AM EST|
TORONTO, ONTARIO -- (Marketwired) -- 02/12/14 -- The Special Committee of the Board of Trustees of InnVest Real Estate Investment Trust (TSX: INN.UN) offers the following update following its meeting with Orange Capital, LLC.
"We value the input of Orange Capital, as we do the input of all our unitholders. Representatives of the InnVest Special Committee met with Orange on Monday February 10, 2014 to better understand the concerns laid out in their recent press release and presentation," said Laurence Geller, Chair of the Special Committee. "We had what we thought was a very informative and constructive discussion with Orange Capital. The InnVest Special Committee will discuss and determine appropriate next steps."
As previously disclosed, the InnVest Special Committee is conducting a thorough evaluation of the Orange Capital proposal, all with a view to continuing to enhance unitholder value. As previously noted, the InnVest Special Committee is considering Orange Capital's meeting requisition and the Trust will respond to Orange Capital's request within 21 days of the February 4 requisition, as required by InnVest's declaration of trust.
InnVest is an unincorporated open-ended real estate investment trust which owns a portfolio of 127 hotels across Canada representing approximately 16,000 guest rooms operated under internationally recognized brands. InnVest also holds a 50% interest in Choice Hotels Canada Inc., one of the largest franchisors of hotels in Canada.
InnVest's units and convertible debentures trade on the Toronto Stock Exchange (the "TSX") under the symbols INN.UN, INN.DB.C, INN.DB.D, INN.DB.E, INN.DB.F and INN.DB.G.
InnVest Real Estate Investment Trust
Vice President, Finance and Investor Relations
(905) 206-7114 (FAX)
Longview Communications Inc.