On
The Company is continuing to work diligently and expeditiously with its auditors to file the Annual Filings on or before
Since
- the completion of the sale of all or substantially all of the assets of the Company, including the business and related hotel property known as “Toronto Don Valley Hotel and Suites”, located at
175 Wynford Drive ,Toronto, Ontario , the adjacent development lands and certain other assets related to the operation of the hotel, toDVP Hotel Development LP for$102 million (subject to adjustments), as announced by the company onJanuary 6, 2020 ; and - the declaration of a special cash dividend of
$0.47 per common share for an aggregate amount of approximately$50 million , paid onApril 1, 2020 to Allied shareholders of record on the close of business onMarch 2, 2020 , as announced by the Company onFebruary 13, 2020 andFebruary 19, 2020 .
Other than those previously disclosed events, there have been no other material business developments for the Company since
On behalf of the Board of Directors:
(signed)
President, Chief Financial Officer, Secretary and Director
For more information please contact:
Tel: 604-669-5335
Fax: 604-682-8131
e-mail: mikechan@alliedhotels.com
Neither the
Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. The use of any of the words “anticipate”, “estimate”, “will” and “expect” and similar expressions and statements are intended to identify forward-looking information and are based on Allied’s current beliefs or assumptions as to the outcome of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company.
Many factors, both known and unknown, could cause actual results to be materially different from the results that are or may be expressed or implied by such forward-looking information contained in this press release.
The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Source:2020 GlobeNewswire, Inc., source