TORONTO, Jan. 04, 2019 (GLOBE NEWSWIRE) -- Skyline Investments Inc. (“ Skyline ” or the “ Company ”) (TASE: SKLN), is pleased to announce that on December 27, 2018 the Board of Directors approved a repurchase plan (the “ Repurchase Plan ”) for its Debentures Series (A) and (B) (the “ Debentures ”). Pursuant to the Repurchase Plan, during the six months period commencing December 30, 2018 and ending June 30, 2019, at any time and from time to time, the Company may repurchase Debentures Series (A) and (B) for up to a total consideration not exceeding NIS 10,000,000. Purchases will occur from time to time at various volumes at the discretion of the Company's management and/or the management of a corporation under its control, in accordance with market opportunities. Nothing in the Repurchase Plan shall oblige the Company to purchase these Debentures in any amount.
Skyline believes that the current market price of the Company's Debentures is attractive for purposes of the Repurchase Plan and provides a suitable business opportunity for the Company.
About Skyline
Skyline Investments is a Canadian company that specializes in hospitality real estate investments in Canada and the US. The Company owns 19 assets in Canada and the US with 3,196 hotel rooms under management spread over 18 cities, and development rights for almost 3,000 residential units in three main areas north of Toronto, Canada.
The company is traded on the Tel Aviv Stock Exchange (ticker: SKLN) under the SME60 Index.
For more information:
Ben Novo-Shalem, Head of M&A and Investor Relations 416-368-2565 / 2222 | benn@skylineinvestments.com
