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MISSISSAUGA, ON, Oct. 1, 2018 /CNW/ – Temple Hotels Inc. (TSX: TPH) (“Temple” or the “Company”) today announced the completion of the partial redemption of its 7.25% series E convertible redeemable unsecured subordinated debentures due September 30, 2020 (the “Debentures”) effective September 30, 2018 (the “Redemption Date”).
On August 23, 2018, the Company issued a notice of redemption to the holders of the Debentures to redeem 2,258 Debentures at a redemption price equal to their principal amount, plus accrued and unpaid interest thereon up to, but excluding, the Redemption Date. Effective on the Redemption Date, 2,258 Debentures in the principal amount of $2,258,000 were redeemed by the Company.
Temple is a growth orientated hotel investment company with hotel properties located across Canada. Temple is listed on the Toronto Stock Exchange under the symbols TPH (common shares) and TPH.DB.E. (convertible debenture). The primary long-term investment objectives of the Company are to yield stable and growing cash flows and to maximize the long-term share value of the Company through the active management of its assets, accretive acquisitions, and the performance of value-added capital improvement programs on selected properties, as deemed appropriate. For further information on Temple, please visit our website at www.templehotels.ca.
SOURCE Temple Hotels Inc.
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