– CANADA, Vancouver – Diversified Royalty Corp. (TSX:DIV/DIV.DB), announces that the nomination of three new independent director candidates to replace two independent directors, Messrs. Mitchell Gropper and Murray Coleman, who will retire from DIV’s Board of Directors at the conclusion of the Meeting.
The new independent director nominees are:
Anita Anand. Ms. Anand holds the J.R. Kimber Chair in Investor Protection and Corporate Governance at the Faculty of Law, University of Toronto where she is a full professor and has been employed since 2006. Prior to 2006, she held various other academic positions, including as a law professor at the Faculty of Law, Queen’s University. Ms. Anand is also currently a member of the Securities Advisory Committee of the Ontario Securities Commission. She was called to the Bar in the Province of Ontario and practiced corporate law at a major Toronto law firm from 1994-1997 with a leave to complete her LL.M. Ms. Anand also serves as a Director on several non-profit organizations.
Garry Herdler. Mr. Herdler has significant finance, operations and capital markets expertise with over 25 years as a Chief Financial Officer, an investment banker, a KPMG CPA/CA and tax advisor, and a private equity management consultant in several industries. Mr. Herdler has been the Chief Financial Officer of several companies, including one U.S. publicly listed company, six U.S. private equity-owned companies and one global real estate company, in high change and growth situations in integration, operational improvement, IT conversions and turnarounds. Mr. Herdler is currently Chief Financial Officer of QuadReal Property Group in Vancouver, BC, which manages over a $25 billion global portfolio of income properties, developments and investments. Previously, he was a Senior Director with Alvarez & Marsal Private Equity Performance Improvement Group, LLC in New York, NY. In addition, Mr. Herdler spent nearly ten years in investment banking, leveraged finance and equity capital markets at Deutsche Bank Securities, Bankers Trust and CIBC World Markets.
Lorraine McLachlan. Ms. McLachlan was the President and Chief Executive Officer of the Canadian Franchise Association, the authoritative voice of franchising in Canada, from October 2006 to May 2018. Ms. McLachlan has held senior leadership roles in trade associations and not-for-profit organizations for over 25 years. Prior to joining CFA, Lorraine served for 10 years as Vice President of the Canadian Marketing Association and also held senior fundraising roles for a number of social service agencies. Ms. McLachlan has also served as a director of several non-profit organizations. She is a graduate of the University of Toronto and holds an MBA from Royal Roads University in British Columbia.
“We are pleased to have these three highly qualified independent director nominees stand for election at our 2018 Meeting. The combination of diverse skills, experience and expertise of these nominees will enhance the skill set of our Board of Directors,” said Lawrence Haber, Chair of DIV’s Board of Directors. “In addition, we want to thank Mr. Gropper and Mr. Coleman for their diligent service and considerable contributions as directors throughout their tenures.”
In the event these three new director nominees as well as returning director nominees Mr. Lawrence Haber, Ms. Paula Rogers and Mr. Johnny Ciampi are elected at the Meeting, the Board of Directors will be composed of six directors.
About Diversified Royalty Corp.
DIV is a multi-royalty corporation, engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV’s objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors.
DIV currently owns the Sutton, Mr. Lube and AIR MILES trademarks in Canada. Sutton is among the leading residential real estate brokerage franchisor businesses in Canada with over 200 offices across Canada. Mr. Lube is the leading quick lube service business in Canada with 174 locations across Canada and over $225 million of annual system sales. AIR MILES is Canada’s largest coalition loyalty program with over 200 leading brand-name sponsors; approximately two-thirds of Canadian households actively participate in the AIR MILES Program.
DIV expects to increase cash flow per share by making accretive royalty purchases and through the growth of purchased royalties. DIV expects to pay a predictable and stable dividend to shareholders and increase the dividend as cash flow per share increases allow.
For more information : http://www.diversifiedroyaltycorp.com
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