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H&R Announces TSX Acceptance of Normal Course Issuer Bid
H&R Announces TSX Acceptance of Normal Course Issuer Bid H&R Announces TSX...
About this update from H&r Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nH&R Announces TSX Acceptance of 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\nH&R Announces TSX Acceptance of Normal Course Issuer Bid\nCanada NewsWire\nTORONTO, July 8, 2016\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, July 8, 2016 /CNW/ - H&R Real Estate Investment Trust (\"H&R REIT\" or the \"REIT\") and H&R Finance Trust (collectively, \"H&R\") (TSX: HR.UN; HR.DB.D; HR.DB.E and HR.DB.H) today announced receipt of final acceptance from the Toronto Stock Exchange (\"TSX\") of H&R's notice of intention to make a normal course issuer bid (\"NCIB\").  Under the NCIB, H&R REIT will have the ability to purchase for cancellation up to a maximum of 5,000,000 Stapled Units on the open market.  As at June 30, 2016, H&R had 282,413,855 outstanding Stapled Units.\n\nThe NCIB will commence on July 14, 2016 and remain in effect until the earlier of July 13, 2017 and the date on which H&R REIT has purchased the maximum number of Stapled Units permitted under the NCIB. 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 138,648 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&R. \n\nH&R intends to establish an automatic purchase plan under which its broker may purchase Stapled Units according to a prearranged set of criteria. The plan will enable t...