MONTERREY, Mexico--(EON: Enhanced Online News)--Deutsche Bank Mexico, S.A., Banking institution, Trust Division F/1616 or Fibra Inn (BMV: FINN13) (“Fibra Inn” or “the Company”), a Mexican real estate investment trust specializing in the hotel industry serving the business traveler, announced that, as per Clause 12.9 of the trust contract F/1616, as well as the corresponding Prospectus and Supplements, the Company will execute a cash distribution from the trust’s taxable income for the period of July 1 to September 30, 2013 through a cash payment on Tuesday, November 19, 2013 for Ps. 0.1038751333359950000 per Certificado Bursátiles Fiduciarios Inmobiliario (“CBFI”), for each of the 258,334,218 CBFIs outstanding, for a total payment of Ps. 26’834,501.34 (Twenty six million eight hundred and thirty four thousand five hundred and one 34/100 Mexican pesos).
Additionally, a capital reimbursement for the period from July 1 to September 30, 2013 will take place via a cash payment that will take place on Tuesday, November 19, 2013, for Ps. 0.1299512070058020000 per CBFI, for each of the 258,334,218 CBFIs outstanding, for a total payment of Ps. 33’570,843.44 (Thirty tree million five hundred and seventy thousand eight hundred and forty three 44/100 Mexican pesos).
It is important to note that the capital reimbursement does not imply the repurchase of the CBFIs, without expression of nominal value.
The following are the important dates for this distribution:
- Ex-dividend date November 13, 2013
- Record date November 15, 2013
- Payment date November 19, 2013
Further detail regarding the distribution per CBFI is the following:
|Trust taxable income|
|Total amount to be distributed, in Pesos||Ps. 26’834,501.34|
|Number of CBFIs:||258,334,218|
|Total amount to be distributed per CBFI, in Pesos||Ps. 0. 1038751333359950000|
|Capital reimbursement from the depreciation of assets|
|Total amount to be distributed, in Pesos||Ps. 33’570,843.44|
|Number of CBFIs:||258,334,218|
|Total amount to be distributed per CBFI, in Pesos||Ps. 0. 1299512070058020000|
|Total distribution, in Pesos:||Ps. 60’405,344.78|
|Total amount to be distributed per CBFI, in Pesos||Ps. 0. 2338263403417970000|
Additionally, the implied value of the Company is Ps. 17.90670774558410000 per CBFI.
The following is the detail behind the calculation of the implied value, based on the Company’s financial results for the third quarter of 2013:
|(+)||Contributions by trustees||4’503,162,219|
|(+)||Results for the period||122’753,123|
|(/)||Number of CBFIs outstanding||258,334,218|
About the Company
Fibra Inn is a Mexican Real Estate Investment Trust formed primarily to acquire, own, develop and rent a broad range of hotel properties in Mexico. Headquartered in Monterrey, Fibra Inn possesses a high-quality, portfolio of hotels serving the business traveler and are geographically diverse located in ten states throughout Mexico, comprising 3,126 rooms, including 304 under construction. The Tenant has signed franchise agreements with IHG to operate its global brands: Holiday Inn, Holiday Inn Express and Holiday Inn Express & Suites. Additionally, it has license agreements with Hilton to operate its brand Hampton Inn by Hilton; and it has development agreements with IHG, Marriott International and Wyndham Hotel Group. These hotels enjoy some of the industry’s top loyalty programs and offer attractive hotel options for business travelers. Fibra Inn recently listed its Real Estate Trust Certificates (Certificados Bursátiles Fiduciarios Inmobiliarios or “CBFIs”) on the Mexican Stock Exchange and trades under the ticker symbol “FINN13”.
For more information, please visit our corporate site and investor relations section at: http://www.fibrainn.mx
Note on Forward-Looking Statements
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, Company performance and financial results. Also, certain reclassifications have been made to make figures comparable for the periods. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.
For more information please visit http://fibrainn.mx/en/investors.php.