Thunderbird Resorts Inc.: February 2012 Revenue Report; Update on Favorable Peru Debt Restructuring; Amendment to Articles of Association; Amendment to Nominating and Governance Committee Charter
(firmenpresse) - PANAMA, REPUBLIC OF PANAMA -- (Marketwire) -- 03/13/12 -- Thunderbird Resorts Inc. ("Thunderbird" or "Group") (FRANKFURT: 4TR)(EURONEXT: TBIRD) reports the following:
FEBRUARY 2012 REVENUE REPORT
For a more detailed analysis of February 2012 revenue, please go to the Company's web page at and click on "February 2012 Revenue Report - Analysis", which will be located on the home page under "News and Press Releases".
UPDATE ON FAVORABLE PERU DEBT RESTRUCTURING
In press releases dated 29 December 2011 and 19 February 2012, the Group announced that it was favorably restructuring approximately $44 million of Peru-related debt and $10 million of Group-wide debt. Within the Peru-related debt, the Group announced that approximately $24.9 million of "Sweep Debt" and "Parlor Debt" was successfully restructured via final agreements while the remaining Peru-related debt was in the process of being restructured via either "preliminary agreements" or "advanced negotiations". The Group is pleased to announce that approximately $3.2 million of the Sweep Debt that was in process of being restructured has now been restructured via final agreements under the same favorable terms and conditions of the Sweep Debt restructuring as described in the press release dated 29 December 2011.
BOARD APPROVES REVISION TO NOMINATING AND CORPORATE GOVERNANCE COMMITTEE CHARTER
The Group announces that: a) its board of directors has approved a resolution amending the Group's articles of association to authorize the Nominating and Governance Committee to adopt rules for the nomination and election of Directors; and b) the Nominating and Governance Committee has approved new rules to this effect that are now reflected in the committee charter, which is available for review on Thunderbird's website at under "Our Company".
ABOUT THE COMPANY
We are an international provider of branded casino and hospitality services, focused on markets in Asia and Latin America. Our mission is to "create extraordinary experiences for our guests". Additional information about the Group is available at .
Cautionary Notice: This release contains certain forward-looking statements within the meaning of the securities laws and regulations of various international, federal, and state jurisdictions. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential revenue and future plans and objectives of the Group are forward-looking statements that involve risk and uncertainties. There can be no assurances that such statements will prove to be accurate and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Group's forward-looking statements include competitive pressures, unfavorable changes in regulatory structures, and general risks associated with business, all of which are disclosed under the heading "Risk Factors" and elsewhere in the Group's documents filed from time-to-time with the AFM and other regulatory authorities.
Contacts:
Thunderbird Resorts Inc.
Kevin McDonald
Investor Relations
(858) 668-2503
Thunderbird Resorts Inc.
Peter LeSar
Chief Financial Officer
(507) 223-1234
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Datum: 14.03.2012 - 00:12 Uhr
Sprache: Deutsch
News-ID 124504
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PANAMA, REPUBLIC OF PANAMA
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