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Morguard Corporation Announces Filing of Early Warning Report and Acquisition of Units of Plaza Retail REIT
Morguard Corporation Announces Filing of Early Warning Report and Acquisition of Units of ...
About this update from Morguard Corporation
[{"type":"text","content":"\n\n\n\nMorguard Corporation Announces Filing of Early Warning Report and Acquisition of Units of Plaza Retail REIT\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\nCanada NewsWire\nMISSISSAUGA, ON, Sept. 26, 2019\n\n\n\nMISSISSAUGA, ON, Sept. 26, 2019 /CNW/ - Morguard Corporation (\"Morguard\") (TSX: MRC) announced that, in accordance with applicable Canadian securities laws, it has filed an early warning report in respect of their beneficial ownership of, or control or direction over, together with joint actors, 15,059,800 trust units (\"Units\") of Plaza Retail REIT (\"Plaza\") (TSX: PLZ.UN), through the facilities of the Toronto Stock Exchange and alternative Canadian trading systems. \nThe early warning report filing was triggered through the acquisition on September 25, 2019 by Morguard and Paros Enterprises Limited of 5,107,800 Units at a price of $4.20 per Unit, representing 14.71% of Plaza's issued and outstanding Units (the \"Acquisition\"). \nPrior to the Acquisition, Morguard, together with Paros Enterprises Limited, beneficially owned, or had control or direction over, 9,952,000 Units, representing 9.71% of the issued and outstanding Units of Plaza. Following the Acquisition, Morguard, together with Paros Enterprises Limited. have beneficial ownership of, or control or direction over, 15,059,800 Units of Plaza, representing 14.71% of the issued and outstanding Units.\nParos Enterprises Limited, is a holding company controlled by K. Rai Sahi, and together with its affiliates owns approximately 59.3% of the outstanding shares of Morguard, and may be considered to be acting jointly or in concert with Morguard.\nThe Units were acquired for investment purposes. Morguard and its affiliates may, from time to time, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over securities of Plaza through market transactions, private agreements or otherwise. \nThis press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insi...