Intertain Group Limited Statement on Spruce Point Capital Report
Marketwired, 18 December 2015
The Intertain Group Limited (“Intertain” or the “Company”) (IT.TO) today issued a statement to address what it considers to be a misleading and self-serving report that was published on December 17, 2015 by a self-identified short-seller of the Company’s common shares, Spruce Point Capital Management LLC (the “Fund”). Intertain stands behind the integrity of the Company’s public disclosures.
The Fund’s report reveals that the Fund and its affiliates had built a short position in Intertain’s common shares prior to the publication of the Fund’s December 17, 2015 report and therefore stand to realize significant gains in the event that the price of the Company’s stock declines.
Intertain has established a committee of non-management directors to closely review the allegations contained within the Fund’s report. Following that review, the Company will take any and all actions necessary and appropriate to protect the interests of the Company and its shareholders.
