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Altus Group Announces Preliminary Results of Substantial Issuer Bid
TORONTO, Jan. 09, 2026 (GLOBE NEWSWIRE) -- Altus Group Limited (“ Altus Group ”) (T...
About this update from Altus Group Limited
[{"type":"text","content":"Altus Group Announces Preliminary Results of Substantial Issuer Bid\nTORONTO, Jan. 09, 2026 (GLOBE NEWSWIRE) -- Altus Group Limited (“Altus Group”) (TSX: AIF), a leading provider of commercial real estate (“CRE”) intelligence, today announced the preliminary results of its substantial issuer bid (the “SIB”), pursuant to which Altus Group offered to purchase for cancellation a number of its common shares (“Shares”) for an aggregate purchase price not to exceed C$350 million at a purchase price of not less than C$50.00 and not more than C$57.00 per Share. The SIB expired at 5:00 p.m. (Toronto time) on Thursday, January 8, 2026 (the “Expiration Time”). Preliminary Results of SIB In accordance with the terms and conditions of the SIB and based on the preliminary calculation of TSX Trust Company (the “Depositary”) as depositary for the SIB, Altus Group expects to take up and pay for approximately 2,849,643 Shares at a price of C$57.00 per Share under the SIB (the “Purchase Price”), representing an aggregate purchase price of approximately C$162.43 million and approximately 6.59% of the total number of Altus Group’s issued and outstanding Shares (net of escrowed Shares) before giving effect to the SIB and on a non-diluted basis. Approximately 60,000 Shares were tendered through notices of guaranteed delivery. Based on the Depositary’s preliminary calculation, approximately 6,561,903 Shares were validly tendered and not withdrawn (including pursuant to proportionate tenders). None of Altus Group’s directors or executive officers participated in the SIB. As the total value of Shares tendered was less than the total that could have been purchased by the Company under the terms of the SIB, all Shares validly deposited and not withdrawn will be purchased under the SIB in accordance with its terms, and no proration will be required. Shareholders who made valid proportionate tenders will have such number of Shares purchased by Altus Group as would permit such shareholders to maintain their same Share ownership percentage as existed prior to completion of the SIB (subject to rounding to avoid the purchase of fractional Shares). Approximately 255,611 Shares are anticipated to be taken up and purchased pursuant to proporti...