Altus Group Income Fund

Altus Group Income Fund

June 06, 2005 07:00 ET

Altus Group Income Fund Underwriters to Exercise Over-Allotment Option

TORONTO, ONTARIO--(CCNMatthews - June 6, 2005) - Altus Group Income Fund (the "Fund")(TSX:AIF.UN) today announced that the underwriters of the initial public offering of the Fund have notified the Fund of their intention to exercise the over-allotment option to acquire an additional 537,825 trust units at a purchase price of $10.00 per unit, for gross proceeds of $5,378,250. The over-allotment option is scheduled to close on Wednesday, June 8, 2005. The net proceeds will be used by the Fund to repay notes of Altus Group Limited Partnership issued to certain former securityholders of the Altus Group, the Helyar Group and Derbyshire Viceroy. After giving effect to the over-allotment and the transactions contemplated thereby, the Fund will indirectly own approximately 70% of the outstanding limited partnership units of Altus Group Limited Partnership.

The Fund's units trade on the Toronto Stock Exchange under the symbol AIF.UN.

The Fund is the leading independent multidisciplinary provider of real estate consulting and advisory services in Canada, provided by a staff of over 300 professionals from a national network of offices in 13 cities operating as Altus Helyar Valuation and Research, Altus Helyar Cost Consulting and Altus Derbyshire Realty Tax. Altus' clients include banks, financial institutions, governments, pension funds, asset and fund managers, developers and landlords.

The units have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration or applicable exemption from the registration requirements of that Act. This news release does not constitute an offer for sale of these securities in the United States of America.

Contact Information

  • Altus Group Income Fund
    Gary Yeoman
    (905) 953-9948