Brookfield Canada Office Properties Renews Normal Course Issuer Bid
November 05 2013 - 8:12AM
Marketwired
Brookfield Canada Office Properties Renews Normal Course Issuer Bid
TORONTO, ON--(Marketwired - Nov 5, 2013) - Brookfield
Canada Office Properties ("BOX") (TSX: BOX.UN) (NYSE: BOXC)
announced today that the Toronto Stock Exchange accepted a notice
filed by BOX of its intention to renew its prior normal course
issuer bid for a further one-year period. BOX stated that at times
its trust units trade in price ranges that do not fully reflect
their value. As a result, from time to time, acquiring trust units
represents an attractive and a desirable use of available
funds.
The notice provides that BOX may, during the twelve month period
commencing November 7, 2013 and ending November 6, 2014, purchase
on the Toronto Stock Exchange, the New York Stock Exchange and/or
other exchanges and alternative trading systems if eligible, or by
such other means as may be permitted by the Toronto Stock Exchange,
up to 1,308,057 trust units, representing approximately 5% of its
issued and outstanding trust units. At October 31, 2013 there were
26,161,143 trust units and 67,088,022 Class B LP units
(exchangeable on a one-for-one basis for trust units) issued and
outstanding. Under the normal course issuer bid, BOX may purchase
up to 7,961 trust units on the Toronto Stock Exchange during any
trading day, which represents 25% of the average daily trading
volume of 31,847 on the Toronto Stock Exchange for the most
recently completed six calendar months prior to the Toronto Stock
Exchange's acceptance of the notice of the normal course issuer
bid. This limitation does not apply to purchases made pursuant to
block purchase exemptions and purchases made on another
exchange.
The price to be paid for the trust units under the normal course
issuer bid will be the market price at the time of purchase. The
actual number of trust units to be purchased and the timing of such
purchases will be determined by BOX, and all purchases of trust
units will be effected through the facilities of the Toronto Stock
Exchange, the New York Stock Exchange and/or other exchanges and
alternative trading systems if eligible. All trust units purchased
by BOX under this bid will be promptly cancelled.
BOX did not acquire any trust units under its prior normal
course issuer bid which commenced on November 6, 2012 and ends on
November 7, 2013.
About Brookfield Canada Office Properties Brookfield Canada
Office Properties is Canada's preeminent Real Estate Investment
Trust (REIT). Its portfolio is comprised of interests in 28 premier
office properties totaling 20.8 million square feet in the downtown
cores of Toronto, Calgary, Ottawa and Vancouver and a development
site of 980,000 square feet in Toronto. Landmark assets include
Brookfield Place and First Canadian Place in Toronto and Bankers
Hall in Calgary. For more information, visit
www.brookfieldcanadareit.com.
Contact: Matthew Cherry Director, Investor Relations and
Communications 416.359.8593 Email Contact
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