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Thu Apr 26, 2001
Tradewinds Acquired Shares From Allied
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Allied Hotel Properties Inc. ("Allied") announces that it received notice on April 23, 2001 that Tradewinds (M) Berhad ("Tradewinds") acquired 5,712,000 shares of Allied from C.T. Management Corporation ("CTMC") in exchange for 8,400,000 shares of King George Financial Corporation. This transaction results in Tradewinds owning 15,712,000 or 14.8% of the outstanding shares of Allied and CTMC owning 7,858,000, or 7.4% of the outstanding shares of Allied.
Tradewinds is a public company trading on the Malaysian Stock Exchange. It is a subsidiary of Pernas International Holdings Berhad, Malaysia's largest hotel owner. CTMC is a private Canadian company.
Allied Hotel Properties Inc. is a hotel ownership and management company with hotel properties in Greater Vancouver, Edmonton and Toronto. Its hotel portfolio currently consists of: Crowne Plaza Hotel Georgia, Crowne Plaza Chateau Lacombe, Crowne Plaza Toronto Don Valley Hotel, Delta Vancouver Suites, Delta Pacific Resort & Conference Centre, Delta Vancouver Airport and Holiday Inn Vancouver Downtown Hotel. Interested parties can find further information at www.alliedhotels.com.
On behalf of the Board of Directors:
"Ronald G. Erdman" (signed)
Mr. Ronald G. Erdman
President and Chief Executive Officer
For more information please contact:
Allied Hotel Properties Inc.
Tel: (604) 689-9318
Fax: (604) 689-9332
e-mail: info@alliedhotels.com
THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. |
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