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DRI Healthcare Trust Announces Acceptance by TSX of Normal Course Issuer Bid
DRI Healthcare Trust Announces Acceptance by TSX of Normal Course Issuer Bid Ca...
About this update from Dri Healthcare Trust
[{"type":"text","content":"\n \n \n \n DRI Healthcare Trust Announces Acceptance by TSX 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 TORONTO\n \n ,\n \n Sept. 30, 2021\n \n /CNW/ - DRI Healthcare Trust (TSX: DHT.UN) (TSX: DHT.U) (\"DRI\" or \"the Trust\") announced today the acceptance by the Toronto Stock Exchange (the \"TSX\") of the Trust's Notice of Intention to make a normal course issuer bid (the \"NCIB\"). Pursuant to the NCIB, the Trust proposes to purchase, from time to time, if considered advisable, up to an aggregate of 1,500,000 of its trust units (the \"Units\"), being approximately 3.7% of its 40,107,407 issued and outstanding trust units as of September 29, 2021, through the facilities of the TSX and/or through various eligible alternative Canadian trading systems at the market price at the time of purchase. Purchases may commence on\n \n October 5, 2021\n \n and will conclude on the earlier of the date on which the Trust has purchased the maximum number of trust units permitted under the NCIB and\n \n October 4, 2022\n \n .\n \n \n The average daily trading volume of the Units over the most recently completed six calendar months was 26,179 Units. Accordingly, for purposes of the TSX rules, the Trust is entitled to purchase, on any trading day, up to 6,544 Units and to make block purchases of its Units which exceed such daily limit no more frequently than once per calendar week.\n \n \n The Trust remains focussed on its primary strategy of acquiring new pharmaceutical royalty streams, and using its capital for that purpose. The Trust's manager believes that there is a robust and growing pipeline of royalty stream acquisitions opportunities and is active in reviewing a number of potential transactions. However, it is also the opinion of the Trust's manager that, from time to time, the market price of the Trust's Units may not adequately reflect the value of the underlying assets of the Trust, and the Trust wishes to take advantage of the market trading prices of its Units in those instances. Th...