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CT Real Estate Investment Trust Announces Normal Course Issuer Bid
CT Real Estate Investment Trust Announces Normal Course Issuer Bid Canada NewsW...
About this update from Ct Real Estate Investment Trust
[{"type":"text","content":"\n \n \n \n CT Real Estate Investment Trust 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 \n TORONTO\n \n \n ,\n \n \n Nov. 25, 2022\n \n \n /CNW/ - (TSX: CRT.UN) – CT Real Estate Investment Trust (\"CT REIT\") announced today that the Toronto Stock Exchange (\"TSX\") has accepted CT REIT's notice of intention to proceed with a normal course issuer bid (\"NCIB\").\n \n \n Under the NCIB, CT REIT may, during the 12-month period commencing\n \n November 29, 2022\n \n , and ending\n \n November 28, 2023\n \n , purchase up to 3,300,000 CT REIT trust units (\"Units\"), representing approximately 3.07% of its 107,394,085 issued and outstanding Units as at\n \n November 15, 2022\n \n . Based on the average daily trading volume of 134,428 during the last six months, daily purchases will be limited to 33,607 Units, other than purchases made under block purchase exemptions.\n \n \n Purchases of Units under the NCIB will be made in open market transactions, at the prevailing market price at the time of purchase, over the facilities of the TSX, through alternative Canadian trading systems or by such other means as may be permitted under applicable securities laws and stock exchange rules. CT REIT may also purchase Units through private agreements if it receives an issuer bid exemption order permitting it to make such purchases. Any purchases of Units made by way of private agreements may be at a discount to the prevailing market price as provided in the relevant issuer bid exemption order.\n \n \n Decisions regarding the timing of future purchases of Units will be based on market conditions, Unit price and other factors. CT REIT will not be obligated to acquire any Units under the NCIB, and CT REIT may elect to suspend or discontinue its NCIB at any time. Units purchased under the NCIB will be cancelled. CT REIT believes that the market price of Units could be such that their purchase by it under the NCIB may be an attractive and appropriate use of corporate funds. In effect, the NCIB ...