Business
Boardwalk REIT Announces Normal Course Issuer Bid
Boardwalk REIT Announces Normal Course Issuer Bid Canada NewsWire CAL...
About this update from Boardwalk Real Estate Investment Trust
[{"type":"text","content":"\n \n \n \n Boardwalk REIT Announces Normal Course Issuer Bid\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Nov. 18, 2021\n \n /CNW/ - Boardwalk Real Estate Investment Trust (TSX: BEI.UN)\n \n \n Boardwalk Real Estate Investment Trust (\"Boardwalk\", the \"REIT\" or the \"Trust\") announced today that it has received approval from the Toronto Stock Exchange (the \"TSX\") to commence a normal course issuer bid (the \"NCIB\").\n \n \n The NCIB allows the REIT to purchase up to 3,780,000 units of the Trust (the \"Units\") (representing approximately 10% of the public float of 37,803,508 Units issued and outstanding as of\n \n November 12, 2021\n \n ) over a period of twelve months commencing on\n \n November 22, 2021\n \n . The NCIB will expire no later than\n \n November 21, 2022\n \n .\n \n \n Under the NCIB, Units may be repurchased in open market transactions on the TSX, and/or alternative Canadian trading systems, or by such other means as may be permitted by the TSX and applicable securities laws. In accordance with the rules of the TSX governing normal course issuer bids, the total number of Units the REIT is permitted to purchase is subject to a daily purchase limit of 32,046 Units, representing 25% of the average daily trading volume of Units on the TSX calculated for the six calendar months ending\n \n October 31, 2021\n \n , provided, however, that the REIT may make one block purchase per calendar week which exceeds the daily repurchase restriction. All Units purchased by the REIT pursuant to the NCIB will be cancelled.\n \n \n Purchases of units will be made by Boardwalk in accordance with the requirements of the TSX.  In connection with the NCIB, the REIT intends to enter into an automatic purchase plan with TD Securities Inc. to allow for purchases of its Units during periods when the REIT would ordinarily not be permitted to make purchases due to regulatory restriction or self-imposed blackout periods. Purchases will be made in accordance with the Trust's discretion and based upon the...