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TSX Accepts Renewal of Normal Course Issuer Bid & Boardwalk Offers Tenants a Chance to Become an Owner of the REIT
TSX Accepts Renewal of Normal Course Issuer Bid & Boardwalk Offers Tenants a Chance to...
About this update from Boardwalk Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nTSX Accepts Renewal of Normal Course Issuer Bid & Boardwalk Offers Tenants a Chance to Become an Owner of the REIT\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\nTSX Accepts Renewal of Normal Course Issuer Bid & Boardwalk Offers Tenants a Chance to Become an Owner of the REIT\nCanada NewsWire\nCALGARY, June 29, 2017\n\n\n\nCALGARY, June 29, 2017 /CNW/ - Boardwalk Real Estate Investment Trust (\"Boardwalk\") is pleased to announce that The Toronto Stock Exchange has accepted its notice of intention to renew its normal course issuer bid (the \"Bid\"), and that it has launched a contest that gives its tenants (\"Resident Members\") a chance to own its trust units. \n\nBoardwalk has 46,097,423  issued and outstanding trust units as of June 28, 2017.  The public float of trust units of Boardwalk is 37,124,036.  The Bid allows Boardwalk to purchase up to 3,712,403 trust units, representing 10% of its \"public float\" of trust units.  The average daily trading volume for the six calendar months prior to the date hereof was 143,638 trust units (25% being 35,909 trust units, which shall be the daily purchase limit under the Bid).  The Bid will commence on July 4, 2017 and will terminate on July 3, 2018, or such earlier time as the Bid is complete.  Purchases of trust units pursuant to this Bid will be effected through the facilities of the TSX and any alternative trading systems in Canada.\n\nBoardwalk may also enter into an automatic purchase plan agreement (\"APP\") with a broker to allow for the purchase of its trust units under the Bid at times when Boardwalk ordinarily would not be active in the market due to self-imposed trading blackout periods. Before entering into a blackout period, Boardwalk may, but will not be required to, instruct the designated broker to make purchases under the Bid in accordance with the terms of the APP. Such purchases will be determined by the broker in its sole discretion based on parameters established by Boardwalk prior to the blackout period in accordance with TSX rules, applicable securitie...