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Granite Announces Appointment of Brydon Cruise as New Trustee and Director and Also Announces Normal Course Issuer Bid
Granite Announces Appointment of Brydon Cruise as New Trustee and Director and Also Announ...
About this update from Granite Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nGranite Announces Appointment of Brydon Cruise as New Trustee and Director and Also Announces Normal Course Issuer Bid\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\nGranite Announces Appointment of Brydon Cruise as New Trustee and Director and Also Announces Normal Course Issuer Bid\nCanada NewsWire\nTORONTO, April 20, 2016\n\n\n\nTORONTO, April 20, 2016 /CNW/ - Granite Real Estate Investment Trust and Granite REIT Inc. (TSX: GRT.UN / NYSE: GRP.U) (\"Granite REIT\" and \"Granite GP\", and, collectively \"Granite\") today announced the appointment of Brydon Cruise to their respective Board of Trustees and Board of Directors effective immediately. Brydon Cruise is a senior financial executive with over 25 years of experience in the global real estate industry concentrating on acquisitions, mergers and corporate finance in both North America and Europe. Mr. Cruise is currently Chairman and Managing Partner of Brookfield Financial Corp. and has been a senior member of the Brookfield group since 2003.  Brookfield Financial is a global investment bank focused on real estate, renewable power, infrastructure and financial services.\n\nGranite also announced today the acceptance by the Toronto Stock Exchange (the \"TSX\") of Granite's Notice of Intention to Make a Normal Course Issuer Bid (\"NCIB\").  Pursuant to the NCIB, Granite proposes to purchase through the facilities of the TSX and any alternative trading system in Canada, from time to time over the next 12 months, if considered advisable, up to an aggregate of 3,647,837 of Granite`s issued and outstanding stapled units (the \"Stapled Units\") (each Stapled Unit consisting of one trust unit of Granite REIT and one common share of Granite GP), being approximately 10% of Granite's public float of Stapled Units as of April 20, 2016.  As of April 20, 2016, Granite had 47,073,026 Stapled Units issued and outstanding.  \n\nThe NCIB will commence on April 26, 2016 and will conclude on the earlier of the date on which purchases under the bid have been completed and April 25, 2017. Granite will no...