Killam announces normal course issuer bid

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[{"type":"text","content":"\n\n\nHALIFAX, Aug. 16, 2013 /CNW/ - Killam Properties Inc. (TSX: KMP) is\n pleased to announce that the Toronto Stock Exchange (the \"TSX\") has\n accepted Killam's notice of intention to make a normal course issuer\n bid for its common shares. Killam believes that the market price of its\n common shares may not, from time to time, accurately reflect their\n underlying value making the common shares an attractive investment and\n an advantageous use of Killam's funds. Killam expects that the purchase\n of common shares will benefit the remaining shareholders of Killam by\n increasing their equity interest in Killam's assets.\n\n\nOn August 6, 2013, there were 54,241,706 common shares outstanding.\n Under the normal course issuer bid, Killam may acquire up to\n 2,500,000 common shares, which is 4.6% of the currently issued and\n outstanding shares. Except as permitted under the TSX rules, Killam\n will not purchase on any given trading day more than 21,404 common\n shares, being approximately 25% of the average daily trading volume of\n the common shares on the TSX for the previous six calendar months of\n 85,617 common shares. All purchases of common shares will be made\n through the facilities of the TSX at the market price of the shares at\n the time of acquisition. Any shares acquired will be cancelled. Killam\n has not repurchased any common shares in the past year.\n\n\nThe normal course issuer bid will commence on August 20, 2013, and will\n terminate on August 19, 2014.\n\n\nKillam Properties Inc., based in Halifax, Nova Scotia, is one of\n Canada's largest residential landlords, owning, operating and\n developing multi-family apartments and manufactured home communities.\n\n\nNote: The Toronto Stock Exchange has neither approved or disapproved of\n the information contained herein.\n\nSOURCE: Killam Properties Inc.\n\n\n Killam Properties Inc. Philip Fraser  President & [email protected] 902-453-4536www.killamproperties.com Copyright CNW Group 2013","length":2819,"tagName":"div"}]

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