Business
H&R Real Estate Investment Trust and H&R Finance Trust Call Joint Special Meetings to Consider Internal Reorganization
H&R Real Estate Investment Trust and H&R Finance Trust Call Joint Special Meetings...
About this update from H&r Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nH&R Real Estate Investment Trust and H&R Finance Trust Call Joint Special Meetings to Consider Internal Reorganization\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 Real Estate Investment Trust and H&R Finance Trust Call Joint Special Meetings to Consider Internal Reorganization\nCanada NewsWire\nTORONTO, Oct. 19, 2017\n\n\n\nWill Result in the Effective Replacement of H&R Finance Trust with H&R Finance (2017) Trust\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, Oct. 19, 2017 /CNW/ - H&R Real Estate Investment Trust (\"H&R REIT\" or \"H&R\") and H&R Finance Trust (\"H&R Finance Trust\" and, together with H&R REIT, the \"Trusts\") (TSX: HR.UN and HR.DB.D) have announced today that they are proposing to complete an internal reorganization (the \"Reorganization\") which is intended to continue and enhance the benefits of the existing Stapled Unit structure that was approved by unitholders of H&R REIT in 2008 (the \"2008 Reorganization\") and has been in place since that time.  The Reorganization is being contemplated due to the growth in H&R's U.S. investment portfolio since the 2008 Reorganization.  The result of the Reorganization will be to effectively replace H&R Finance Trust in H&R's stapled unit (\"Stapled Unit\") structure with a newly formed entity called H&R Finance (2017) Trust (\"H&R F17 Trust\"), which will have substantively the same characteristics as H&R Finance Trust.\n\nThe Reorganization will be effected by way of a plan of arrangement involving H&R REIT, H&R Finance Trust and certain of H&R REIT's subsidiaries resulting in, among other things, holders of Stapled Units, through a series of steps, disposing of their H&R Finance Trust units and acquiring units of H&R F17 Trust. Following completion of the Reorganization, investments that are curr...