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CT Real Estate Investment Trust Announces Renewal of Normal Course Issuer Bid
CT Real Estate Investment Trust Announces Renewal of Normal Course Issuer Bid Canada Ne...
About this update from Ct Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\n CT 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 \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n Nov. 27, 2024\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 (the \"2024-25 NCIB\").\n \n\n Under the 2024-25 NCIB, CT REIT may, during the 12-month period commencing\n \n November 29, 2024\n \n and ending\n \n November 28, 2025\n \n , purchase up to 1,875,000 CT REIT trust units (\"Units\"), representing approximately 1.73% of its 108,695,207 issued and outstanding Units as at\n \n November 15, 2024\n \n . Based on the average daily trading volume on the TSX of 158,985 during the last six months, daily purchases will be limited to 39,746 Units, other than purchases made under block purchase exemptions.\n \n\n Purchases of Units under the 2024-25 NCIB will be made in open market transactions, at the prevailing market price at the time of purchase, through the facilities of the TSX, through alternative Canadian trading systems or by such other means as may be permitted under applicable securities laws. 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. CT REIT's previous NCIB, in respect of which CT REIT sought and received approval from the TSX, authorized the purchase of up to 3,500,000 Units and will expire on\n \n November 28, 2024\n \n (the \"2023-24 NCIB\"). A total of 875,468 Units were repurchased through the facilities of the TSX and alternative Canadian trading systems at a volume weighted average price of\n \n C$13.4959\n \n per Unit under the 2023-24 NCIB for a total cost of\n \n $11.8 million\n \n , including commissions.\n \n\n Decisions regard...