Huntingdon Capital Corp. initiates strategic review process to enhance shareholder value & announces retention of financial

Huntingdon Capital Corp. initiates strategic review process to enhance 
shareholder value & announces retention of financial advisors 


        --  Huntingdon shares continue to trade well below implied IFRS
            Value
        --  IFRS methodology implies no value for Huntingdon's asset and
            property management platform
        --  Value add portfolio of 35 industrial, office, retail and
            aviation properties provides upside valuation potential

RICHMOND, BC, Feb. 19, 2014 /CNW/ - Huntingdon Capital Corp. ("Huntingdon" or 
the "Company") (TSX: HNT, TSX: HNT.DB and TSX: HNT.WT) announced today that 
Huntingdon's Board of Directors (the "Board") has approved a strategic review 
process aimed at enhancing shareholder value. The Board has initiated this 
process to address the persistent discount between Huntingdon's trading price 
and the Board's view of the Company's intrinsic value.

Trimaven Capital Advisors Inc. and Evercore Partners Canada Ltd. have been 
retained by Huntingdon to act as its financial advisors with regards to the 
process. The Board and its advisors will entertain all proposals and 
alternatives to enhance shareholder value including proposals to acquire or 
merge with the Company.

A recently established Special Committee chaired by Mr. Matt Goldfarb and 
comprised of all Huntingdon's independent directors will oversee the process. 
"The Company's primary objective since the 2009 merger of IAT Air Cargo 
Facilities Income Fund and Huntingdon Real Estate Investment Trust has been to 
deliver superior risk-adjusted returns to our shareholders. Since the merger 
we have improved operating margins through cost control and aggressive leasing 
programs, significantly de-leveraged our balance sheet, successfully brought 
to market the initial public offering of FAM Real Estate Investment Trust 
("FAM REIT") which is now comprised of 26 stabilized properties vended in by 
the Company, established a profitable third-party management business and 
delivered a total return of approximately 176% to shareholders, " said Matt 
Goldfarb, Chairman of the Special Committee. "Despite these milestones, 
Huntingdon's shares continue to trade well below IFRS value and do not reflect 
the true value of Huntingdon's assets and management platform," added Mr. 
Goldfarb.

The Board and its advisors believe that Huntingdon's value-add portfolio of 35 
industrial, office, retail and aviation-related properties (primarily in 
Western Canada with a gross leasable area of 2.7 million square feet) combined 
with the Company's approximate 29% interest in FAM REIT and its 10-year 
external management contract will provide a unique platform for potential 
process participants in both the U.S. and Canada.

Key highlights of Huntingdon today include:
        --  Market capitalization of approximately $120 million
        --  Cash balance of approximately $46 million
        --  Value-add, 2.7 million square foot, portfolio of 35 industrial,
            office, retail and aviation properties located throughout
            Canada
        --  IFRS value of $80 per square foot on the freehold portfolio,
            well below replacement cost
        --  Internalized asset and property management platform with over
            60 employees
        --  29% interest in FAM REIT, a diversified TSX-listed REIT with
            $270 million in gross assets
        --  10-year initial term Management Agreement with FAM REIT

Shareholders are cautioned that there can be no assurance that the strategic 
review process will lead to any particular course of action or, if a 
transaction is undertaken, the terms or timing of such transaction.

About Huntingdon Capital Corp. 
Huntingdon is a real estate operating company listed on the TSX (Common 
Shares: HNT; Debentures: HNT.DB; Warrants: HNT.WT). Huntingdon owns and 
manages a portfolio of 35 industrial, office, retail and aviation-related 
properties throughout Canada with a total gross leasable area of 2.7 million 
square feet. In addition, Huntingdon owns an approximate 29% interest in FAM 
REIT (TSX: F.UN, TSX:F.WT) and manages, on behalf of FAM REIT, a portfolio of 
28 industrial, office, and retail properties throughout Canada with a gross 
leasable area of 1.8 million square feet.

About Trimaven Capital Advisors Inc.
Trimaven Capital Inc. ("Trimaven") is an independently owned real estate 
investment bank. Trimaven offers clients highly specialized advice in mergers 
and acquisitions, including hostile and special situations, corporate finance, 
private equity and real estate asset advisory. Trimaven's clients include 
public, private and corporate owners of real estate as well as investment 
management firms and hedge funds. With a reputation and expertise built over 
40 years of experience as owners, managers and advisors, Trimaven is known for 
its deep industry knowledge, quality advice, and transaction execution 
capabilities. Trimaven's principals are accomplished advisors with significant 
transactional experience. Prior to forming Trimaven, the principals advised on 
over $30 billion of transactions during their tenures at other top-tier firms.

About Evercore Partners Canada Ltd.
Evercore Partners Canada Ltd. is an affiliate of Evercore Partners Inc. 
("Evercore"), a leading independent investment banking advisory firm. 
Evercore's Investment Banking business advises its clients on mergers, 
acquisitions, divestitures, restructurings, financings, public offerings, 
private placements and other strategic transactions and also provides 
institutional investors with high quality equity research, sales and trading 
execution that is free of the conflicts created by proprietary activities. 
Evercore's Investment Management business comprises wealth management, 
institutional asset management and private equity investing. Evercore serves a 
diverse set of clients around the world from 20 offices in North America, 
Europe, South America and Asia. More information about Evercore can be found 
on the Company's website at www.evercore.com.

Cautionary Note Regarding Forward-Looking Statements 
Certain statements contained in this press release may constitute 
forward-looking statements. Forward- looking statements are often, but not 
always, identified by the use of words such as "anticipate", "plan", "expect", 
"may", "will", "intend", "should", and similar expressions. These statements 
involve known and unknown risks, uncertainties and other factors that may 
cause actual results or events to differ materially from those anticipated in 
such forward-looking statements. These risks and uncertainties include, but 
are not limited to, general and local economic and business conditions; the 
financial condition of our tenants; our ability to refinance maturing debt; 
leasing risks, including those associated with the ability to lease vacant 
space; and interest rate fluctuations. Forward-looking statements may also 
include, without limitation, any statement relating to future events, 
conditions or circumstances. The forward-looking statements are subject to 
risks, uncertainties and other factors that could cause actual results or 
events to differ materially from current expectations including, but not 
limited to, the risks detailed from time to time in Huntingdon's filings with 
Canadian provincial securities regulators, including its most recent annual 
information form and management's discussion and analysis. Huntingdon cautions 
you not to place undue reliance upon any such forward-looking statements, 
which speak only as of the date they are made. Forward-looking statements are 
based on management's current plans, estimates, projections, beliefs and 
opinions, and Huntingdon does not undertake any obligation to update 
forward-looking statements should assumptions related to these plans, 
estimates, projections, beliefs and opinions change, except as required by 
applicable law.



SOURCE  Huntingdon Capital Corp. 
Trimaven Capital Advisors Inc. Contact:Jeffrey Dean, Managing Director Tel: 
(416) 602-6415 Email:Jeffrey.dean@trimavencap.com 
Evercore Partners Canada Ltd. Contact:Martin J. Cicco, Senior Managing 
Director Tel: (212) 822-7576 Email:cicco@evercore.com 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/February2014/19/c5313.html 
CO: Huntingdon Capital Corp.
ST: British Columbia
NI: REL  
-0- Feb/19/2014 13:00 GMT
 
 
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