Key Developments: Royal Host Inc (RYL.TO)

RYL.TO on Toronto Stock Exchange

3 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Royal Host Inc announces resignation of Chief Financial Officer
Tuesday, 17 Jun 2014 08:30am EDT 

Royal Host Inc:Michael McFeters, Company's CFO, has resigned effective June 20.  Full Article

Holloway Lodging enters into agreement to acquire Royal Host Inc.
Monday, 5 May 2014 10:31am EDT 

Holloway Lodging Corp:To acquire all of the issued and outstanding common shares of Royal Host.Royal Host shareholders will receive for each RYL Share they own a combination of $1.00 in cash and 0.1 of a Holloway common share.Acquisition is valued at about $23 mln on an equity value basis and $157 mln on an enterprise value basis.Holloway was advised on legal matters by Borden Ladner Gervais LLP.Royal Host was advised on legal matters by Bennett Jones LLP.Special Committee of Royal Host was advised on legal matters by McCullough O'Connor Irwin LLP and on certain financial matters by Trimaven Capital Advisors Inc.  Full Article

Royal Host Inc Announces Resignation Of President And Chief Executive Officer
Thursday, 14 Feb 2013 08:26am EST 

Royal Host Inc announced that John Carnella, its President and Chief Executive Officer, had resigned to accept a position with another company.  Full Article

Royal Host Inc Announces $2 Million Standby Facility
Tuesday, 15 Jan 2013 08:58pm EST 

Royal Host Inc announced that Royal Host has entered into a standby facility effective immediately (the Facility) which provides a $2,000,000 commitment from Clarke Inc. (Clarke), the Company's 30% shareholder. Pursuant to the terms and conditions of the Facility, Clarke has agreed that the Company may, a maximum of two times, draw any amount or amounts up to a total of $2,000,000 for general corporate purposes. The term of commitment is three months from today's date and the Facility expires at the end of this term if no funds have been drawn. Royal Host may terminate the Facility at any time during the commitment term without penalty or fee provided no funds have been drawn. Interest on the outstanding principal amount drawn shall accrue at a rate per annum equal to 10% from the drawdown date to July 14, 2013 and at a rate per annum equal to 10.25% from July 15, 2013 to January 14, 2014. The Company has the right to prepay, at any time, any portion of the principal amount drawn (plus all accrued interest thereon) under the Facility without penalty or fee. Any amount drawn under the Facility is repayable no later than January 14, 2014. The Company will pay Clarke a commitment fee on execution in the amount of $10,000, and it will pay a funding fee in the amount of 1.00% of the amount drawn (which is due on funding). The Facility is not convertible into securities of the Company.  Full Article

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