Fibra Inn Announces a Distribution Payment Corresponding to the Second Quarter 2015

MONTERREY, México--()--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, as per Clause 12.9 of the trust contract F/1616, as well as the corresponding Prospectus and Supplements, the Company will execute a cash distribution from the trust’s capital reimbursement for the period of April 1, 2015 to June 30, 2015 through a cash payment on Friday, July 31, 2015 for Ps. 0.202060877016799000 per Certificado Bursátil Fiduciario Inmobiliario (“CBFI”), for each of the 437,019,542 CBFIs outstanding, for a total payment of Ps. 88,304,551.93 (Eighty-eight million three hundred and four thousand five hundred and fifty-one pesos 93/100 Mexican pesos).

According to the tax laws applicable to Fibra Inn, the fiduciary is obligated to distribute at least 95% of its taxable income generated in the prior period to CBFI holders by the Trust’s assets, at least one time a year and by March 15 of the consequent period.

Fibra Inn’s policy is to distribute to holders, when applicable, cash in excess obtained from the difference between the taxable income and net adjusted income. To this effect, net adjusted income is equivalent to net income excluding acquisition expenses and non-monetary charges minus Capex reserves.

In accordance to current tax laws applicable to Fibra Inn, when the fiduciary delivers CBFI holders an amount greater than the taxable income for the period, the difference shall be considered capital reimbursement and will decrease the proven acquisition cost of the certificates held by those receiving it. The capital reimbursement will not generate a tax withholding for the CBFI holder of Fibra Inn.

It is important to note that the capital reimbursement does not imply the repurchase of the CBFIs, without expression of nominal value. The following are the important dates for this distribution:

 

Ex-dividend date

     

July 28, 2015

Record date

July 30, 2015

Payment date

July 31, 2015

Further detail regarding the distribution per CBFI is the following:          
Trust taxable income
Total amount to be distributed, in Pesos Ps. 0.0
Number of CBFIs: 437,019,542
Total amount to be distributed per CBFI, in Pesos Ps. 0.0
 
Capital Reimbursement
Total amount to be distributed, in Pesos Ps. 88,304,551.93
Number of CBFIs: 437,019,542
Total amount to be distributed per CBFI, in Pesos Ps. 0.202060877016799000
 
Total distribution, in Pesos: Ps. 88,304,551.93
Total amount to be distributed per CBFI, in Pesos Ps. 0.202060877016799000

Additionally, the implied value of the Company is Ps. 16.2797010614688000 per CBFI.

The following is the detail behind the calculation of the implied value, based on the Company’s financial results for the second quarter of 2015:

(=)       Total Equity       7,114,547,501.78    
(/) Number of CBFIs outstanding 437,019,542
(=) Implied value 16.2797010614688000
 

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, Crowne Plaza and Staybridge Suites; 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, Casa Grande and Arriva Express. Additionally, Fibra Inn has agreements with IHG, Marriott International and Wyndham Hotel Group for development of properties. These hotels enjoy some of the industry’s top loyalty programs. Fibra Inn has 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.

Contacts

In Monterrey, Mexico:
Fibra Inn
Lizette Chang, IRO, Tel: 52 1 (81)1778-5926
lchang@fibrainn.mx
or
In New York:
i‐advize Corporate Communications, Inc.
Maria Barona / Melanie Carpenter
Tel: 212-406‐3691/92
mbarona@i-advize.com / mcarpenter@i-advize.com
Twitter: @fibrainn

Contacts

In Monterrey, Mexico:
Fibra Inn
Lizette Chang, IRO, Tel: 52 1 (81)1778-5926
lchang@fibrainn.mx
or
In New York:
i‐advize Corporate Communications, Inc.
Maria Barona / Melanie Carpenter
Tel: 212-406‐3691/92
mbarona@i-advize.com / mcarpenter@i-advize.com
Twitter: @fibrainn