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Royal Host Inc. announces mailing of meeting materials with respect to the previously announced plan of arrangement involving Holloway Lodging Corporation

May 30, 2014







Not for distribution on U.S. wire services or for dissemination in the United States

HALIFAX, May 30, 2014 /CNW/ - Royal Host Inc. (TSX: RYL) ("Royal Host") is pleased to announce that it has obtained an interim order of the Ontario Superior Court of Justice providing for, among other things, the holding of a meeting (the "Meeting") of its shareholders at which shareholders will be asked to consider and vote upon the previously announced statutory plan of arrangement (the "Arrangement") involving Holloway Lodging Corporation ("Holloway"). Pursuant to the Arrangement, Royal Host shareholders will receive 0.1 of a common share of Holloway and $1.00 in cash for each Royal Host share held by them.

A notice of meeting and management information circular ("Circular"),instrument of proxy and letter of transmittal (the "Letter of Transmittal") relating to the Meeting and the Arrangement have been mailed to shareholders and will be available for viewing electronically under Royal Host's profile on the SEDAR website at www.sedar.com. The Meeting will be held at the offices of Bennett Jones LLP, 3400 One First Canadian Place, Toronto, Ontario, M5X 1A4 on June 25, 2014 commencing at 10:00 a.m. (Eastern Daylight Time).

Shareholders of Royal Host are urged to carefully review the Circular and accompanying materials, including the Letter of Transmittal, as they contain important information concerning the Arrangement and the rights and entitlements of the shareholders of Royal Host in relation to the Arrangement.

Subject to the receipt of all applicable approvals and the satisfaction or waiver of all closing conditions, the Arrangement is expected to close on June 30, 2014.

ABOUT ROYAL HOST INC.

Royal Host is a diversified hospitality company. Royal Host currently owns 17 hotels with 2,382 rooms across Canada. Royal Host also owns and operates the Travelodge Canada franchise business which is currently comprised of over 90 hotels across Canada. Royal Host's common shares and convertible debentures are traded on the Toronto Stock Exchange under the trading symbols "RYL", "RYL.DB.B", "RYL.DB.C" and "RYL.DB.D" respectively. More information about Royal Host can be found at www.sedar.com or at www.royalhost.com.

This press release contains forward-looking information within the meaning of applicable securities laws, including, but not limited to, forward looking information concerning the expected timing for closing of the Arrangement and Royal Host's expectations and assumptions concerning time of receipt of required regulatory approvals and the satisfactory other conditions to the completion of the Arrangement. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts.

Forward looking statements contained in this press release are based on certain key expectations and assumptions made by Royal Host, including, but not limited to, expectations and assumptions that the Arrangement will close on the terms and the time expected, all regulatory approvals and other conditions will be received or satisfied for closing the Arrangement. Although Royal Host believes that the expectations and assumptions on which the forward looking statements are based on are reasonable, undue reliance should not be placed on the forward looking statements because Royal Host can give no assurance that they will prove to be correct.

Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Forward-looking information is subject to certain factors, including risks and uncertainties, that could cause actual results to differ materially from what Royal Host currently expects and there can be no assurance that such statements will prove to be accurate. These risks include, but are not limited to, the risk that the Arrangement will not close in the time period anticipated, if at all, which is dependent upon the parties' ability to comply with the closing conditions to the Arrangement, some of which are beyond the control of the parties; the approval of the plan of arrangement by Royal Host's shareholders; the approval of the plan of arrangement by the court, which will consider, among other things, the fairness of the terms and conditions of the Arrangement to Royal Host's shareholders; the interest of third parties in Royal Host and its business; and other risks relating to the business and industry of Royal Host that are detailed from time to time in Royal Host's filings with the Canadian provincial securities regulators, copies of which filings may be obtained at www.sedar.comRoyal Host does not intend to update or revise any such forward-looking information should its assumptions and estimates change.

 


SOURCE Royal Host Inc.


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Source: Canada Newswire