WINNIPEG, May 26, 2015 /CNW/ - Temple Hotels Inc. ("Temple" or the "Company") (TSX: TPH) today issued the following statement in response to this morning's press release issued by Centennial Group Limited ("Centennial") regarding the Board of Directors (the "Board") of Temple:
- The Board and senior management have reviewed Centennial's release and will consider in detail the assertions contained therein together with its financial and legal advisors. The Board expects to provide a response for consideration by all shareholders following this period of review.
- Temple's Board and senior management team are committed to acting in the best interests of the Company and all of its shareholders and continually review a wide range of strategic opportunities to enhance shareholder value.
- The Board and senior management are focused on execution of our strategic plan to deliver on our priorities with the goal of driving significant value for all of our shareholders.
- The Board expects to present its recommended slate of director nominees in the Company's management information circular to be filed shortly on SEDAR and mailed to all shareholders eligible to vote at the 2015 Annual and Special Meeting scheduled for June 25, 2015.
- Temple shareholders should not take any action at this time.
Temple is a real estate investment company listed on the Toronto Stock Exchange under the symbols TPH (common shares), TPH.DB.C, TPH.DB.D, TPH.DB.E and TPH.DB.F (convertible debentures). The objective of Temple is to provide shareholders with stable cash dividends from investment in a diversified portfolio of hotel properties and related assets. For further information on Temple, please visit our website at www.templehotels.ca.
The Toronto Stock Exchange has not reviewed or approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE Temple Hotels Inc.