TORONTO, June 29, 2022 (GLOBE NEWSWIRE) — Altus Group Limited (ʺAltus Group” or the ʺCompanyʺ) (TSX: AIF), a market leading Intelligence as a Service provider to the global commercial real estate industry, announced today that, in connection with its previously announced normal course issuer bid (“NCIB”) to purchase up to 1,345,142 common shares (“Shares”), it entered into an automatic share purchase plan (“ASPP”) with a designated broker. The ASPP is intended to allow for the purchase of Shares under the NCIB at times when Altus Group would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed blackout periods.
Pursuant to the ASPP, the Company has instructed the designated broker to make purchases under the NCIB in accordance with the terms of the ASPP and certain purchasing parameters thereunder. Such purchases will be made by the designated broker in its sole discretion based on purchasing parameters set by Altus Group in accordance with the rules of the Toronto Stock Exchange (“TSX”), applicable securities laws and the terms of the ASPP. The ASPP has been pre-cleared by the TSX and will be implemented today.
Outside of pre-determined blackout periods, Shares may be purchased under the NCIB based on management’s discretion, in compliance with TSX rules and applicable securities laws. The NCIB commenced on February 8, 2022 and ends on February 7, 2023. All purchases made under the ASPP will be included in computing the number of Shares purchased under the NCIB.
About Altus Group
Altus Group provides the global commercial real estate industry with vital actionable intelligence solutions driven by our de facto standard ARGUS technology, unparalleled asset level data, and market leading expertise. A market leader in providing Intelligence as a Service, Altus Group empowers CRE professionals to make well-informed decisions with greater speed and scale to maximize returns and reduce risk. Trusted by most of the world’s largest CRE leaders, our solutions for the valuation, performance, and risk management of CRE assets are integrated into workflows critical to success across the CRE value chain. Founded in 2005, Altus Group is a global company with approximately 2,600 employees across North America, EMEA and Asia Pacific. For more information about Altus (TSX: AIF) please visit altusgroup.com.
Certain information in this press release may constitute “forward-looking information” within the meaning of applicable securities legislation, including statements related to the Company’s NCIB and ASPP and other statements that are not historical facts. Generally, forward-looking information can be identified by use of words such as “may”, “will”, “expect”, “believe”, “plan”, “would”, “could”, “remain” and other similar terminology. All of the forward-looking information in this press release is qualified by this cautionary statement.
Inherent in the forward-looking information are known and unknown risks, uncertainties and other factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking information. Those risks, uncertainties and other factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to those described in our annual publicly filed documents, including the Annual Information Form for the year ended December 31, 2021 and Management’s Discussion and Analysis for the year ended December 31, 2021 (which are available on SEDAR at www.sedar.com).
Given these risks, uncertainties and other factors, investors should not place undue reliance on forward-looking information as a prediction of actual results. The forward-looking information reflects management’s current expectations and beliefs regarding future events and operating performance and is based on information currently available to management. Although we have attempted to identify important factors that could cause actual results to differ materially from the forward-looking information contained herein, there are other factors that could cause results not to be as anticipated, estimated or intended. The forward-looking information contained herein is current as of the date of this press release and, except as required under applicable law, we do not undertake to update or revise it to reflect new events or circumstances. Additionally, we undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of Altus, our financial or operating results, or our securities.
FOR FURTHER INFORMATION PLEASE CONTACT:
Chief Communications Officer, Altus Group