Element Financial Corporation

TSX : EFN


Element Financial Corporation

February 24, 2014 09:20 ET

Element Senior Management Buys Shares

TORONTO, ONTARIO--(Marketwired - Feb. 24, 2014) - Element Financial Corporation (TSX:EFN) ("Element" or "the Company"), one of North America's leading equipment finance companies, today announced that all eight members of the Company's senior management team purchased Element's common shares in the open market following last Thursday's release of the Company's financial results for the three-month and 12-month periods ending December 31, 2013.

"After the release of our breakout Q4 financial results last week, I was pleased to have the opportunity on Friday to join the other members of our senior management group to collectively invest more than five million dollars buying common shares in this Company," said Mr. Steven Hudson, Element's Executive Chairman and CEO.

The share purchases made on Friday were direct cash purchases by the individuals and not guaranteed or supported by the Company.

About Element Financial Corporation

With total assets in excess of $4.0 billion as of February 20, 1014, Element Financial Corporation is one of North America's leading independent equipment finance companies. Element operates across North America in four verticals of the equipment finance market - Commercial and Vendor Finance, Fleet Management, Aviation Finance and Rail Finance.

This release includes forward-looking statements regarding Element and its business. Such statements are based on the current expectations and views of future events of Element's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements, including, among others, statements regarding new originations in the current quarter, the anticipated pipeline of prospective transactions, and proposed purchases of portfolios of finance assets. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting Element, including risks regarding the equipment finance industry, economic factors, risks related to completion of the proposed purchases of portfolios of finance assets, and many other factors beyond the control of Element. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Element undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Contact Information

  • Element Financial Corporation
    John Sadler
    Senior Vice President
    Corporate Affairs & Investor Relations
    (416) 386-1067 ext. 2313
    jsadler@elementfinancial.ca

    Element Financial Corporation
    Michel Beland
    Chief Financial Officer
    Chief Administrative Officer
    (416) 386-1067 ext. 2225
    mbeland@elementfinancial.ca