Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
SYS-CON.TV
Today's Top SOA Links


Royal Host Inc. Announces $2 Million Standby Facility

HALIFAX, NOVA SCOTIA -- (Marketwire) -- 01/16/13 -- Royal Host Inc. ("Royal Host" or the "Company"), (TSX:RYL) (TSX:RYL.DB.B) (TSX:RYL.DB.C) (TSX:RYL.DB.D) announced today that Royal Host has entered into a standby facility effective immediately (the "Facility") which provides a $2,000,000 commitment from Clarke Inc. ("Clarke"), the Company's 30% shareholder.

Pursuant to the terms and conditions of the Facility, Clarke has agreed that the Company may, a maximum of two times, draw any amount or amounts up to a total of $2,000,000 for general corporate purposes. The term of commitment is three months from today's date and the Facility expires at the end of this term if no funds have been drawn. Royal Host may terminate the Facility at any time during the commitment term without penalty or fee provided no funds have been drawn. Interest on the outstanding principal amount drawn shall accrue at a rate per annum equal to 10% from the drawdown date to July 14, 2013 and at a rate per annum equal to 10.25% from July 15, 2013 to January 14, 2014. The Company has the right to prepay, at any time, any portion of the principal amount drawn (plus all accrued interest thereon) under the Facility without penalty or fee. Any amount drawn under the Facility is repayable no later than January 14, 2014. The Company will pay Clarke a commitment fee on execution in the amount of $10,000, and it will pay a funding fee in the amount of 1.00% of the amount drawn (which is due on funding). The Facility is not convertible into securities of the Company.

Royal Host shall provide a negative pledge of its entire interest in a hotel property located in Moncton, New Brunswick as collateral on funding. Additional collateral shall be provided in the form of a negative pledge on Royal Host's hotel property located in Saint John, New Brunswick should amounts drawn exceed certain thresholds.

Additional terms of the Facility are substantially as set out in the Facility term sheet which will be filed on the SEDAR website at www.sedar.com.

The Facility constitutes a "related party transaction" under MI 61-101 as Clarke is a related party of Royal Host because Clarke owns more than 10% of the issued and outstanding common shares of the Company. Clarke also has representatives (Blair Cook and George Armoyan) on the Company's Board of Directors. Geosam, a private investment company, has publicly announced that, pursuant to the Securities Act (Ontario), it is presumed to be acting jointly or in concert with Clarke and family members of George Armoyan, President of Geosam, with whom he resides.

The Company determined that exemptions from the formal valuation and minority approval requirements available under MI 61-101 apply to the Facility, as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Facility exceeds 25% of the Company's market capitalization as of the date of the provision of the Facility. Further, this transaction is not connected to any other transaction the Company has completed or may be contemplating with Clarke. The Directors of the Company approved the Facility by unanimous resolution following a

meeting where the matter was discussed. George Armoyan, President and CEO of Clarke, and Blair Cook, a Director of Clarke, both abstained from voting.

About Royal Host Inc.

Royal Host is a diversified hospitality company that delivers shareholder value through hotel ownership, investment and franchising. The Company's hotels, which contain approximately 2,957 rooms, are located in five Provinces and Territories across Canada. Twenty of the Company's hotels operate under internationally recognized brands such as Travelodge®, Super 8®, Holiday Inn®, Hilton®, Ramada® and Country Inns & Suites®. Three of the Company's hotels are independently branded. In addition to its real estate holdings, the Company owns and operates the Travelodge Canada franchise business which is currently comprised of over 90 hotels across nine Provinces and Territories.

Royal Host's common shares and convertible debentures are traded on the Toronto Stock Exchange under the trading symbols "RYL", "RYL.DB.D", "RYL.DB.B" and "RYL.DB.C" respectively.

This press release contains certain forward-looking statements relating, but not limited to, Royal Host's operations, anticipated financial performance, business prospects, and strategies. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", or similar words suggesting future outcomes. Such forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such factors include, but are not limited to, economic, competitive, and lodging industry conditions. Royal Host disclaims any responsibility to update any such forward-looking statements except as required by Law.

This press release contains registered trademarks that are the exclusive property of their respective owners. None of the owners of these trademarks has any responsibility or liability for any information contained in this press release.

Contacts:
Royal Host Inc.
Michael McFeters
CFO
(902) 470 4500
investorinfo@royalhost.com
www.royalhost.com

About Marketwired .
Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Web 2.0 Latest News
There are a variety of opinions on the seriousness of Heartbleed being put forth ranging from "it's not the end of the world" to "the sky is falling, duck and cover." Usually the former cites the relatively low percentage of sites impacted by Heartbleed, pegged at about 17% or 500,000 ...
HTML5 is still one of the most discussed topics amongst us technical types. The key challenge, however, has remained unanswered for a long time. How do you effectively wrap HTML5 for use in native mobile applications? Unfortunately I do not have a universal answer, but I do have a s...
If the CEO of the company has anything to say about Lenovo's standing in the PC industry, the company won't stop until massive growth is achieved. In a series of recent buying sweeps, Lenovo has bought Motorola Mobility for a whopping $2.91 billion from Google and also acquired the ser...
Zetta.net is an enterprise-grade backup and disaster recovery provider. We have been in business for over five years, and we have over 800 enterprise customers and managed service providers (MSPs) that use or resell our product, as is the case with MSPs. In terms of the IT challenges,...
What is the “3rd Platform” of IT? It comprises of the cloud, mobile, social, and big data products. According to IDC, “3rd Platform technologies and solutions will drive 29 percent of 2014 IT spending and 89 percent of all IT spending growth”. Much of that growth will come from the “ca...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021




SYS-CON Featured Whitepapers
ADS BY GOOGLE