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H&R Amends its Normal Course Issuer Bid to Repurchase for Cancellation up to an Additional 10 Million of its Stapled Units
H&R Amends its Normal Course Issuer Bid to Repurchase for Cancellation up to an Additi...
About this update from H&r Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nH&R Amends its Normal Course Issuer Bid to Repurchase for Cancellation up to an Additional 10 Million of its Stapled Units\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\nH&R Amends its Normal Course Issuer Bid to Repurchase for Cancellation up to an Additional 10 Million of its Stapled Units\nCanada NewsWire\nTORONTO, March 14, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./ \n\n\n\nTORONTO, March 14, 2018 /CNW/ - H&R Real Estate Investment Trust (\"H&R REIT\" or the \"REIT\") and H&R Finance Trust (collectively, \"H&R\") (TSX: HR.UN) today announced receipt of final approval from the Toronto Stock Exchange (\"TSX\") to amend its existing normal course issuer bid (\"NCIB\") to increase the number of Stapled Units that may be repurchased for cancellation from 5,000,000 to 15,000,000 Stapled Units, representing approximately 5.28% of the public float as of August 1, 2017.  As at August 1, 2017, H&R had 289,686,775 outstanding Stapled Units.\n\nThe NCIB will continue until the earlier of August 14, 2018 and the date on which H&R REIT has purchased the maximum number of Stapled Units permitted pursuant to the amended notice of intention filed with the TSX. Purchases of Stapled Units under the NCIB will be made in accordance with TSX by-laws, rules and policies through the facilities of the TSX, and through alternative trading systems. The Stapled Units so purchased will be cancelled. The price paid for any repurchased units will be the market price of such Stapled Units at the time of acquisition. Daily purchases will be limited to 113,640 Stapled Units other than block purchase exemptions.\n\nH&R believes that its outstanding Stapled Units represent an attractive investment, and the ongoing purchase of its outstanding Stapled Units may benefit all persons who continue to hold Stapled Units by increasing their equity interest in H&...