First Capital Board Approves REIT Conversion and Announces Special Meeting of Shareholders

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[{"type":"text","content":"\n\n\n\nFirst Capital Board Approves REIT Conversion and Announces Special Meeting of Shareholders\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\nCanada NewsWire\nTORONTO, Oct. 7, 2019\n\n\n\nTORONTO, Oct. 7, 2019 /CNW/ - First Capital Realty Inc. (the \"Company\") (TSX: FCR), one of Canada's leading developers, owners and operators of mixed-used urban real estate in Canada's most densely populated centres, announced today that upon receipt of a fairness opinion, its Board of Directors (the \"Board\") has unanimously approved the previously announced reorganization of the Company into a real estate investment trust to be named First Capital Real Estate Investment Trust (\"First Capital REIT\" or the \"REIT\"). \nBlair Franklin Capital Partners Inc. (\"Blair Franklin\") has provided a fairness opinion to the Board stating that, in their opinion and subject to the assumptions, limitations and qualifications contained in such fairness opinion, as of the date of the fairness opinion, the consideration to be received by shareholders in the reorganization is fair, from a financial point of view, to the Company's shareholders, including holders of the Company's common shares represented by instalment receipts. Blair Franklin was retained by the Board and compensated on a fully fixed fee basis.\nThe reorganization will be subject to, among other things, approval by shareholders of record on the close of business on October 25, 2019 (the \"Record Date\"), including holders of common shares represented by instalment receipts, at a special meeting of shareholders to be held on December 10, 2019 (the \"Special Meeting\"). The Board intends to recommend, in an information circular describing the proposed reorganization, that shareholders vote in favour of the Arrangement (as hereinafter defined). \nUpon completion of the Arrangement, First Capital REIT will carry on all of the business and activities currently carried on by the Company, and the trustees and officers of First Capital REIT will be the same individuals who currently act as directors and officers of the Company. In ad...

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