Stock BuybacksBy The Online Investor Staff, updated Tue., Feb. 18, 1:12 PM
|This Slide: #17 of 25|
Slide #17. Morguard Real Estate Investment Trust
Morguard Real Estate Investment Trust (TSE:MRT.UN.CA)
Share Amount Authorized:
Morguard Real Estate Investment Trust (TSX: MRT.UN) ("Trust") announced today that the Toronto Stock Exchange has accepted its notice of intention to make a normal course issuer bid through the facilities of the TSX and/or alternative Canadian trading systems. The notice provides that the Trust may, during the twelve month period commencing February 7, 2020 and ending February 6, 2021, purchase for cancellation up to 3,036,776 units ("Units) in total, being approximately 5% of the outstanding Units. The daily repurchase restriction for the Units is 10,923. Additionally, the Trust may, during the twelve month period commencing February 7, 2020 and ending February 6, 2021, purchase for cancellation up to $11,495,500 principal amount of the 4.50% Convertible Unsecured Subordinated Debentures due December 31, 2021 (TSX:MRT.DB) ("Debentures"), being 10% of the public float of outstanding Debentures. The daily repurchase restriction for the Debentures is $12,025.
Morguard Real Investment Trust is a closed-end real estate investment trust company. The Trust's primary business goal is to accumulate a portfolio of high-quality real estate assets and then deliver the benefits of such real estate ownership to unitholders. The Trust's operations cover three types of real estate properties: Retail; Office; and Other Properties. As of Dec 31 2010, Co. owned or had interest in 51 properties comprising 8,317,942 gross leasable area located the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec.
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