MINTO APARTMENT REIT ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

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[{"type":"text","content":"\n\n\n\n MINTO APARTMENT REIT ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID\n \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\n Canada NewsWire\n \n\n\n\n\n\n OTTAWA, ON\n \n\n ,\n \n\n Sept. 29, 2025\n \n\n /CNW/ - Minto Apartment Real Estate Investment Trust (TSX: MI.UN) (the \"REIT\") today announced that the Toronto Stock Exchange (\"TSX\") has accepted its notice to make a normal course issuer bid (\"NCIB\") for a portion of its trust units (\"Units\") as appropriate opportunities arise from time to time. The REIT's previous normal course issuer bid expired on\n \n September 26, 2025\n \n . The REIT's NCIB will be made in accordance with the requirements of the TSX.\n \n\n\n\n\n\n\n\n\n Pursuant to the notice, the REIT is authorized to acquire a maximum of 3,471,354 Units, representing approximately 10% of the REIT's public float of 34,713,546 Units (as at the close of business on\n \n September 17, 2025\n \n ), during the twelve-month period commencing\n \n October 1, 2025\n \n and ending\n \n September 30, 2026\n \n . As at the close of business on\n \n September 17, 2025\n \n , there were 62,388,106 Units issued and outstanding (on a fully diluted basis assuming the exchange of all 25,755,029 Class B limited partner units of Minto Apartment Limited Partnership). Under the terms of the NCIB, the REIT may acquire up to 34,984 Units on any given trading day representing approximately 25% of the REIT's average daily trading volume for the six most recently completed calendar months of 139,938 Units, as calculated in accordance with the rules of the TSX, subject to the REIT's ability to make one block purchase of Units per calendar week that exceeds such limits. Purchases under the NCIB will be made by the REIT for cancellation and will made in the open market through the facilities of the TSX or through Canadian Alternative Trading Systems. Units purchased under the NCIB will be cancelled upon their purchase. The REIT intends to fund the purchases out of its available cash and undrawn credit facilities. Of the 3,283,584 Units approved for purchase under its fo...

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