Brief: Alaris Royalty Corp announces proposed transaction with sequel, provides corporate update

Stardust Power

11/01/2017 22:19

Jan 11 (Reuters) - Alaris Royalty Corp  AD.TO : 
    * Alaris royalty corp. Announces a proposed transaction with 
sequel and provides a corporate update 
    * Alaris royalty-it is proposed that co to get cash 
distribution of usd$30 million from sequel as well as retain 
usd$62.2 million of preferred equity in sequel 
    * It is also proposed that alaris will receive a continuing 
annual distribution of usd$6.2 million 
    * Alaris royalty - proposed co will receive continuing 
annual distribution of $6.2 million representing 14.2% yield on 
alaris' remaining cost base in sequel 
    * Alaris royalty - co's units in sequel can be repurchased  
for usd$62.2 million subject to annual increase of 3% starting 
42 months from closing date of transaction 
    * Alaris royalty - subsequent to management changes, 
significant costs reductions at kimco holdings  co continues to 
work with kimco on a long-term plan 
    * Alaris royalty - net results of tuesday's updates, 
excluding proposed sequel deal, is slight increase to cash flow 
guidance provided on nov 8, 2016 
 
Source text for Eikon:  ID:nCCN2WNskV  
Further company coverage:  AD.TO  
 
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