Colliers International Becomes an Independent Public Company - Seite 2

"Our mission has been to establish Colliers as the global firm that best serves the needs of today's real estate clients," said Doug Frye, Global President and Chief Executive Officer of Colliers. "To successfully support the next phase of this mission, we will continue to grow our global platform in professional services and seek out opportunities to diversify our revenue streams while advancing our track record of exceptional service. Consolidation is a reality of the commercial real estate industry, and Colliers will continue to stand out as a trailblazer, building on its proven record of growth, strong balance sheet and focus on building an enterprising and dynamic global commercial real estate services organization to benefit clients, professional advisors, and shareholders over the long-term," he added.

"With ample liquidity, modest leverage, and a newly established $525 million, five year, revolving credit facility, Colliers has the financial wherewithal to support continued investment in its balanced growth strategy focused on internal growth, targeted recruiting of top professionals, and prudent acquisitions as we have done so often in the past," said John Friedrichsen, CFO of Colliers. "With our spin-off complete, we can now focus our efforts on executing our growth strategy and with the support of our experienced board of directors, ensuring Colliers operates at the very highest of standards expected of publicly traded companies," he added.

Shareholders will benefit from the strong insider ownership and continuity of management to which they're accustomed; largest shareholder Jay Hennick continues his leadership role as Executive Chairman, while John Friedrichsen, serves as Chief Financial Officer and Elias Mulamoottil will serve as Global Head of Mergers and Acquisitions. Doug Frye, Global President and Chief Executive Officer of Colliers International, will retain the role he has for 13 years with Dylan Taylor, Chief Operating Officer, overseeing the executive team in charge of operations of Colliers.

Plan of Arrangement

On April 21, 2015, shareholders of FirstService voted overwhelmingly in favour of the transaction and, on May 28, 2015, the Ontario Superior Court of Justice (Commercial List) approved the transaction.

Under the terms of the arrangement: (i) each holder of Subordinate Voting Shares of the former FirstService will continue to hold one Subordinate Voting Share of Colliers (which will continue to be represented by former FirstService share certificates, until replaced against transfer) and will receive one Subordinate Voting Share of New FirstService for every Subordinate Voting Share of the former FirstService held at the close of business on May 29, 2015; and (ii) each holder of Multiple Voting Shares of the former FirstService will continue to hold one Multiple Voting Share of Colliers (which will continue to be represented by former FirstService share certificates, until replaced against transfer) and will receive one Multiple Voting Share of new FirstService for every Multiple Voting Share of the former FirstService held at the close of business on May 29, 2015.