BRIEF-Timbercreek Mortgage Investment gets interim order on merger with TSMIC

Fri May 13, 2016 8:13am EDT
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May 13 (Reuters) - Timbercreek Mortgage Investment Corp

* Received interim order from Ontario Superior Court of Justice with respect to combination of TMIC and TSMIC

* Order authorizes each of TMIC and TSMIC to call and hold special meeting of shareholders to consider arrangement

* Combined entity would be named Timbercreek Financial Corp.

* Timbercreek Financial is targeting an EPS of about $0.72 on a stabilized basis over next 12 months

* Targeted increase in EPS will be primarily achieved through savings in management fees and operational costs

* Timbercreek MIC and Timbercreek Senior MIC provide update on previously announced merger Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)