MONTERREY, Mexico--(BUSINESS WIRE)--Deutsche Bank Mexico, S.A., Banking institution, Trust Division F/1616 or Fibra Inn (BMV:FINN13) (“Fibra Inn” or “the Company”), a Mexican real estate investment trust specializing in the hotel industry serving the business traveler, announced that on November 20th, 2014 ended the Second Round of subscription exclusive for Shareholders. The subscription process has concluded successfully and aligned with Fibra Inn growth plans.
We inform to the Shareholders the following:
a) There were 30’276,208 (thirty million two hundred seventy six thousand two hundred eight) CBFIs subscribed in the Second Round.
b) The subscription price for each CBFI was MXN$15.85 (fifteen pesos and eighty five cents).
c) The settlement date of the CBFIs subscribed in the Second Round is today, November 21th, 2014.
d) There were a total of 178’685,324 (one hundred seventy eight million six hundred eighty five thousand three hundred twenty four) CBFIs subscribed in the First and Second Round.
e) There are 437’019,542 (four hundred thirty seven million nineteen thousand five hundred forty two) CBFIs outstanding, considering the CBFIs of the subscription.
f) According to the Shareholders’ Meeting agreements, that took place on October 17th 2014, the unsubscribed CBFIs during the Second Round will be cancelled.
With the settlement of the Second Round, in the subscription process Fibra Inn received MXN $2,832 million, which will be used to finance the expansion plan. This influx of cash will strengthen the financial statement and will also allow a greater leverage capability and better terms for future debt.
Finally, this transaction represents a milestone in the Fibras Mexican market, where Fibra Inn gives the opportunity of a Rights Offering exclusive for Shareholders. This capital raising reassures the Shareholders’ confidence in Fibra Inn.
Fibra Inn reiterates its commitment to continue with the investment process according to their acquisition strategy at accretive cap rates and consequently delivering attractive results to their Shareholders.
Information for Shareholders in the United States – Legend Required by Rule 801(b) of the U.S. Securities Act of 1933
This rights offering is made for the securities of a foreign company. The offer is subject to the disclosure requirements of a foreign country that are different from those of the United States. Financial statements included in the document, if any, have been prepared in accordance with foreign accounting standards that may not be comparable to the financial statements of United States companies.
It may be difficult for you to enforce your rights and any claim you may have arising under the federal securities laws, since the issuer is located in a foreign country, and some or all of its officers and directors may be residents of a foreign country. You may not be able to sue the foreign company or its officers or directors in a foreign court for violations of the U.S. securities laws. It may be difficult to compel a foreign company and its affiliates to subject themselves to a U.S. court's judgments.
FIBRA INN (BMV:FINN13)
cordially invites you to participate in a Special Call to discuss
the Results of the CBFI Subscription of Fibra Inn
Date: Monday, November 24, 2014
Time: 11:00 a.m. New York Time
10:00 a.m. Mexico City/Monterrey Time
Presenting for Fibra Inn:
Oscar Calvillo, Chief Financial Officer
***
To access the Conference Call, please dial:
1(800) 311-9402 from within the U.S.
1(334) 323-7224 from outside the U.S.
Passcode: 537415
***
About the Company
Fibra Inn is a Mexican trust formed primarily to acquire, develop, operate and rent a broad range of hotel properties in Mexico. Headquartered in Monterrey, Fibra Inn has a portfolio of high-quality real estate properties aimed at the business traveler and that are geographically diversified throughout Mexican territory. The Company has signed Franchise Agreements with IHG to operate its global brands, including: Holiday Inn, Holiday Inn Express, Holiday Inn & Suites, Holiday Inn Express & Suites and Crowne Plaza; with Wyndham Hotel Group to operate its global brands Wyndham Garden and Microtel Inn & Suites by Wyndham. Additionally, it has licensing agreements and brand usage agreements with Hilton to operate its brand Hampton Inn by Hilton and with Starwood Hotels & Resorts Worldwide to operate the Aloft brand. The Company has properties that operate with domestic brands like Camino Real and Casa Grande. Additionally, Fibra Inn has agreements with IHG, Marriott International, Wyndham Hotel Group and Hoteles City Express for development of properties. These hotels enjoy some of the industry’s top loyalty programs. Fibra Inn recently listed its Real Estate Certificates (Certificados Bursátiles Fiduciarios Inmobiliarios or “CBFIs”) on the Mexican Stock Exchange and trades under the ticker symbol “FINN13”.
For more information, please visit: www.fibrainn.mx
Note on Forward-Looking Statements
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, Company performance and financial results. Also, certain reclassifications have been made to make figures comparable for the periods. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.
