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BSR Real Estate Investment Trust Announces Renewal of Normal Course Issuer Bid
BSR Real Estate Investment Trust Announces Renewal of Normal Course Issuer Bid Canada N...
About this update from Bsr Real Estate Investment Trust
[{"type":"text","content":"\n \n \n \n BSR Real Estate Investment Trust Announces Renewal of 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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES\n \n \n OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n This news release constitutes a \"designated news release\" for the purposes of the REIT's prospectus supplement dated\n \n December 8, 2021\n \n , to its short form base shelf prospectus dated\n \n December 1, 2021\n \n .\n \n \n \n \n \n \n LITTLE ROCK, Ark.\n \n and\n \n TORONTO\n \n \n ,\n \n \n Sept. 29, 2023\n \n \n /CNW/\n \n -\n \n BSR Real Estate Investment Trust (\"BSR\" or the \"REIT\") (TSX: HOM.U) (TSX: HOM.UN) announced today that the Toronto Stock Exchange (the \"TSX\") has approved the REIT's intention to renew its normal course issuer bid (\"NCIB\") for a portion of its trust units (\"Units\") as appropriate opportunities arise from time to time. The board of trustees of the REIT believes that purchases of Units at prices below the REIT's view of its intrinsic value are in the best interests of the REIT and a desirable use of the REIT's capital.\n \n \n Pursuant to the NCIB notice filed with the TSX, the REIT intends to acquire up to a maximum of 3,186,336 of its Units, or approximately 10% of its public float as of\n \n September 27, 2023\n \n for cancellation over the next 12 months. As of\n \n September 27, 2023\n \n the REIT had 36,084,795 issued and outstanding Units.\n \n \n Purchases under the renewed NCIB will be made through the facilities of the TSX and/or through alternative Canadian trading systems and in accordance with applicable regulatory requirements at a price per Unit representative of the market price at the time of acquisition. The number of Units that can be purchased pursuant to the renewed NCIB is subject to a current daily maximum of 11,256 (which is equal to 25% of 45,025, being the average daily trading volume from\n \n March 1, 2023\n \n to\n \n August 31, 2023\n \n ), s...