Melcor REIT terminates Automatic Share Purchase Plan

Written by Customer Service on . Posted in Public Companies.

EDMONTON, Alberta, June 05, 2020 (GLOBE NEWSWIRE) — Melcor Real Estate Investment Trust (TSX:MR.UN) (the REIT) today announced that it is terminating the previously announced Automatic Share Purchase Plan (ASPP) put in place in connection with the normal course issuer bid (NCIB). The termination is effective June 25, 2020. The REIT entered into the ASPP in conjunction with the commencement of the NCIB on April 1, 2020. The ASPP enables a designated securities dealer to act on behalf of the REIT to purchase Trust Units at times when the REIT would not be active in the market due to regulatory restrictions or self-imposed trading blackout periods.
The ASPP has been terminated to conserve cash and preserve financial strength.The REIT confirms that at the time of sending the notice of termination of the ASPP, it did not possess knowledge of any material fact or material change about the Trust, its units or any of its other securities that has not been generally disclosed.Under the NCIB, the REIT has purchased and cancelled 59,526 Trust Units at an average price of $3.50 per unit since April 1, 2020, including those purchased via the ASPP during trading blackouts.The NCIB remains in effect whereby the REIT may purchase and cancel up to 655,792 Trust Units in total, being approximately 5% of its issued and outstanding Trust Units. The daily repurchase restriction for the Trust Units is 3,207. On May 14, 2020, the Board of Trustees announced that it would suspend its purchases under the NCIB program in light of continued market volatility and in an effort to conserve cash.About Melcor REIT

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.