First Capital Realty Receives Shareholder Approval for Share Repurchase Transaction

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[{"type":"text","content":"\n\n\n\nFirst Capital Realty Receives Shareholder Approval for Share Repurchase Transaction\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\nCanada NewsWire\nTORONTO, April 10, 2019\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/\n TORONTO, April 10, 2019 /CNW/ - First Capital Realty Inc. (\"FCR\" or the \"Company\") (TSX: FCR), one of the largest owners, developers and operators of necessity-based real estate located in Canada's most densely populated urban centres, announced today that the previously announced purchase for cancellation of 36,000,000 common shares of FCR (the \"Repurchased Shares\") from a subsidiary of Gazit-Globe Ltd. (together with its affiliates, \"Gazit\") at a price of $20.60 per Repurchased Share, for gross proceeds to Gazit of approximately $742 million (the \"Share Repurchase Transaction\") received overwhelming approval of approximately 99.7% of the votes eligible to be cast at the special meeting of the Company's shareholders held earlier today (the \"Meeting\"). The total number of common shares represented by shareholders present in person or by proxy at the meeting was 217,553,666, representing over 85% of the Company's issued and outstanding common shares. A final report on voting results in respect of the Meeting will be filed by the Company with the Canadian securities regulatory authorities.\nAs previously announced, closing of the Share Repurchase Transaction is contingent upon the closing of the previously announced bought deal secondary offering by Gazit of 22,000,000 common shares of FCR (the \"Offered Shares\") at a price of $20.60 per Offered Share to a syndicate of underwriters led by RBC Dominion Securities Inc. for gross proceeds to Gazit of approximately $453 million (the \"Offering\"). Closing of the Offering is scheduled to occur tomorrow, April 11, 2019 and closing of the Share Repurchase Transaction is expected to occur April 16, 2019, subject to the satisfaction of customary closing conditions. \nThe securities offered have not been registered under...

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