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Exchange Income Corporation Responds to Short and Distort Campaign
Exchange Income Corporation Responds to Short and Distort Campaign Canada NewsWire...
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[{"type":"text","content":"\n\n\n\nExchange Income Corporation Responds to Short and Distort Campaign\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nWINNIPEG, July 5, 2017\n\n\n\nWINNIPEG, July 5, 2017 /CNW/ - Exchange Income Corporation (TSX: EIF) (\"EIC\" or \"the Company\"), a diversified, acquisition-oriented company focused on opportunities in aerospace, aviation and manufacturing sectors announced today that it has become aware of a short and distort campaign aimed at undermining the value of EIC's shares. The short report was deliberately released immediately following the end of the Company's second quarter when EIC is in a quiet period, and is based on a number of statements, assumptions and opinions with which we strenuously disagree.\n\nEIC has maintained a consistent strategy since its inception in 2004 which has enabled us to grow profitably and return a reliable and growing dividend to our shareholders. Nothing has changed. Since 2004, EIC has paid shareholders $300 million in dividends while maintaining a strong balance sheet with limited leverage.\n\nEIC reiterates its expectation that the Company will meet analyst consensus for the 2017 fiscal year. Furthermore, we are having a strong second quarter and in order to fully inform our stakeholders of this performance on as timely a manner as possible we will accelerate the announcement of these results from our historical precedent of the second week of August to the week of July 24th. Stocks ultimately trade on their financial performance and we look forward to updating the market at the earliest possible date.\n\nEIC directors and management remain extremely confident in the Company's business fundamentals and outlook, including its ability to generate returns on its investments that are consistent with EIC's proven strong historical track record. Company insiders, including certain directors and officers, recently increased their holdings in EIC through share purchases in the open market.  The Company has also been actively repurchasing shares through its normal course issuer bid.\n\nThe Company is co...