TORONTO,
July 23, 2014 /CNW/ - IBI Group Inc.
("IBI" or the "Company") (TSX: IBG) is pleased to announce that it
has entered into a supplemental trust indenture with CIBC Mellon
Trust Company, the trustee of its 7.0% convertible unsecured
subordinated debentures (the "Debentures"), to give effect to
amendments to the Debentures that were approved at the special
meeting of debentureholders held July 16,
2014. As a result of the amendments, the maturity date of
the Debentures has been extended from December 31, 2014 to June
30, 2019 for all debentureholders, and the conversion price
has been reduced to $5.00 per share
from $19.17 per share for
debentureholders who delivered and did not withdraw a valid proxy
voting for the debenture amendments prior to the proxy deadline and
elected Option B and for debentureholders who did not deposit a
proxy, abstained from voting or voted against the debenture
amendments.
About IBI Group Inc.:
The Company is a TSX listed corporation and its
common shares trade under the symbol "IBG".
IBI Group is a globally integrated architecture,
planning, engineering, and technology firm with over 2,600
professionals around the world. For more than 40 years, our
dedicated professionals have helped clients create livable,
sustainable, and advanced urban environments. We are one of the
largest architecture firms in the world, and more than 300 of our
staff architects, planners, designers and engineers are LEED
accredited.
From high-rises to industrial buildings, schools
to state-of-the-art hospitals, transit stations to highways,
airports to toll systems, bike lanes to parks, we design every
aspect of a truly integrated city for people to live, work, and
play.
We organize our expertise into three areas:
- Intelligence: systems designer, software development.
- Buildings: building architecture, building engineering
(mechanical, structural, electrical).
- Infrastructure: planning, urban design, landscape architecture,
transportation, and engineering.
Our collaborative and combined approach focuses
not only on creating the best solutions today, but also creating
the right solutions for tomorrow.
We believe cities must be designed with
intelligent systems, sustainable buildings, efficient
infrastructure, and a human touch.
At IBI, we're defining the cities of
tomorrow.
SOURCE IBI Group Inc.