QUÉBEC CITY, Jan. 10, 2017 /CNW
Telbec/ - Cominar Real Estate Investment Trust
("Cominar" or the "REIT") (TSX: CUF.UN) announced today that
it has received approval of the Toronto Stock Exchange to amend its
normal course issuer bid in order to increase the maximum number of
units that it intends to repurchase for cancellation during the
twelve month period ending November 14,
2018 from 9,000,000 units to 17,596,591 units, representing
10% of the public float of units as at November 7, 2017 (see press release dated
November 10, 2017). No other terms of
the normal course issuer bid have changed.
The units will be purchased on behalf of Cominar by a registered
broker through the facilities of TSX or alternative Canadian
trading platforms. The price paid for the units will be the market
price at the time of the acquisition, and the number of units
purchased and the timing of any such purchases will be determined
by Cominar. All units purchased by Cominar will be cancelled. As at
December 31, 2017, Cominar has
purchased 977,880 units at a weighted average price of $14.23 under the current normal course issuer
bid.
PROFILE AS AT JANUARY 10,
2018
Cominar is the third largest diversified real
estate investment trust in Canada
and currently remains the largest commercial property owner in the
Province of Quebec. The REIT owns
a real estate portfolio of 525 properties in three different market
segments, that is, office properties, retail properties and
industrial and mixed-use properties. Cominar's portfolio totals
44.3 million square feet spread out across Quebec, Ontario, the Atlantic Provinces and
Western Canada. Cominar's
objectives are to maximize units value through proactive management
and the expansion of its real estate portfolio.
SOURCE COMINAR REAL ESTATE INVESTMENT TRUST