WINNIPEG, MB, March 5,
2024 /CNW/ - Artis Real Estate Investment Trust
("Artis" or the "REIT") (TSX: AX.UN) (TSX: AX.PR.E) (TSX: AX.PR.I)
today announced that, in connection with its previously announced
normal course issuer bid ("NCIB"), it will implement an automatic
purchase plan (the "Plan") with a broker effective March 5, 2024.
The Plan, which has been pre-cleared by the Toronto Stock
Exchange (TSX), will allow for the purchase of Artis's trust units
("Units") and preferred units ("Preferred Units") under the NCIB at
times when Artis ordinarily would not be active in the market due
to self-imposed trading blackout periods. Before entering into a
blackout period, Artis may, but will not be required to, instruct
the broker to make purchases under the NCIB in accordance with the
terms of the Plan. Such purchases will be determined by the broker
in its sole discretion based on parameters established by Artis
prior to the blackout period in accordance with TSX rules,
applicable securities laws and the terms of the Plan. Outside of
these pre-determined blackout periods, Units and Preferred Units
may also be purchased based on management's discretion, in
compliance with TSX rules and applicable securities laws.
The Plan will terminate on the earliest of the date on which:
(a) the maximum purchase limits under the Plan are reached;
(b) December 18, 2024; or (c) the Plan is terminated in
accordance with its terms.
Artis is a diversified Canadian real estate investment trust
with a portfolio of industrial, office and retail properties in
Canada and the United States. Artis's vision is to become
a best-in-class real estate asset management and investment
platform focused on value investing.
SOURCE Artis Real Estate Investment Trust
