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BRIEF-Alaris Royalty Corp provides updates regarding S.M. Group
September 20, 2017 / 11:11 AM / 2 months ago

BRIEF-Alaris Royalty Corp provides updates regarding S.M. Group

Sept 20 (Reuters) - Alaris Royalty Corp

* Alaris Royalty Corp provides updates regarding S.M. Group

* ‍SM has received confirmation that it will be receiving cash proceeds from judgment in near future

* Lower than expected cash award to SM will not have a material impact on Alaris’ cash flow or payout ratio​

* Co, SM working cooperatively to assess options that would maximize future repayments to co, considering various strategic alternatives for SM​

* Expects to take a non-cash impairment on book value of its preferred units in SM in Q3 of this year​

* Net amount will not be sufficient to repay in full receivables that are outstanding to Alaris

* Impact on corporation’s payout ratio based on a recent run rate is approximately 2%

* Also to take non-cash impairment on $17.0 million of SM unsecured notes outstanding, $11.8 million of previously unpaid distributions

* Quebec’s anti-corruption unit announced charges against SM’s founder Bernard Poulin, Dany Moreau, some others not related to SM’s business​

* Co understands that charges against SM’s founder, others, not expected to have any material impact on business or SM strategic process​ Source text for Eikon: Further company coverage:

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