Senior Management Invests an Additional $11.2 Million in Element's Securities
19 Junho 2014 - 8:21AM
Marketwired
Senior Management Invests an Additional $11.2 Million in Element's
Securities
TORONTO, ONTARIO--(Marketwired - Jun 19, 2014) - Element
Financial Corporation (TSX:EFN) ("Element" or the "Company"), one
of North America's leading equipment finance companies, today
announced that members of the Company's senior management team and
Board of Directors purchased approximately $11.2 million worth of
Element securities in connection with the Company's recently
completed $1.42 billion offering of subscription receipts,
debentures and preferred shares (the "Offering").
"The entire senior management team and all of the members of our
Board participated in this Offering with demand from this group
exceeding the available allocation," noted Steven K. Hudson,
Element's Chairman and CEO. "A personal financial commitment of
this scale from those of us who are closest to the inner workings
of this Company is supported by the stronger than forecast
origination growth that we are seeing across each of our four
verticals," added Mr. Hudson.
All security purchases referenced above were funded by the
personal resources of the individual investor and were not
supported by loans from the Company.
About Element Financial Corporation
With total assets expected to reach $10 billion following the
closing of the previously announced acquisition of PHH
Corporation's fleet management business, Element Financial
Corporation is one of North America's leading equipment finance
companies. Element operates across North America in four verticals
of the equipment finance market - Commercial & Vendor Finance,
Aviation Finance, Railcar Finance and Fleet Management.
Forward Looking Statements
This release includes forward-looking statements regarding
Element and its business. Such statements are based on the current
expectations and views of future events of Element's management. In
some cases the forward-looking statements can be identified by
words or phrases such as "may", "will", "expect", "plan",
"anticipate", "intend", "potential", "estimate", "believe" or the
negative of these terms, or other similar expressions intended to
identify forward-looking statements. Forward-looking statements in
this release include those related to the closing of the
acquisition of PHH Corporation's fleet management business and
forecast origination growth. The forward-looking events and
circumstances discussed in this release may not occur and could
differ materially as a result of known and unknown risk factors and
uncertainties affecting Element, including risks regarding the
equipment finance industry, economic factors and many other factors
beyond the control of Element. No forward-looking statement can be
guaranteed. Forward-looking statements and information by their
nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause our actual
results, performance or achievements, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking statement
or information. Accordingly, readers should not place undue
reliance on any forward-looking statements or information. Except
as required by applicable securities laws, forward-looking
statements speak only as of the date on which they are made and
Element undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
Element Financial CorporationJohn SadlerSenior Vice
President(416) 386-1067 ext. 2313jsadler@elementfinancial.caElement
Financial CorporationMichel BelandChief Financial Officer(416)
386-1067 ext. 2225mbeland@elementfinancial.ca
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