Business
Edgefront Realty Corp. mails information circular regarding conversion to Real Estate Investment Trust
TORONTO, May 17, 2013 /CNW/ - Edgefront Realty Corp. (" Edgefront ", or the " Corporation "...
About this update from Nexus Industrial Reit
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, May 17, 2013 /CNW/ - Edgefront Realty Corp. (\"Edgefront\", or the \"Corporation\") (TSXV: ED) announces today that it has filed a management information\n circular (the \"Information Circular\") and notice of special meeting in respect of its previously announced\n reorganization under a plan of arrangement under the Business Corporations Act (Ontario) (the \"Arrangement\") whereby the Corporation intends to convert into a real estate invest\n trust named \"Edgefront Real Estate Investment Trust\" (the \"REIT\"), subject to receipt of all necessary approvals, including the\n approval of the TSX Venture Exchange (\"TSXV\") and the shareholders of the Corporation.\n\n\nPursuant to the Arrangement, among other things: (i) the issued and\n outstanding shares of the Corporation will be exchanged for units of\n the REIT on a 40 for 1 basis (1 unit for every 40 shares) (the \"Exchange Ratio\"), and (ii) the issued and outstanding options to purchase shares will\n be exchanged for options to purchase units on terms and conditions\n substantially similar to the terms and conditions of the existing\n options of the Corporation, subject to adjustments to the number of\n units underlying REIT options based upon the Exchange Ratio.\n\n\nInformation about the Meeting \n\n\nThe special meeting (the \"Meeting\") of shareholders will be held at 9:00 a.m. on June 14, 2013, at 199\n Bay Street, Commerce Court West, 40th Floor, Toronto Ontario. Each\n person who is a holder of record of shares at the close of business on\n May 13, 2013 is entitled to receive notice of, and to attend and vote\n at, the Meeting, and any adjournment or postponement thereof.\n\n\nAt the meeting, shareholders will also be asked to consider resolutions\n regarding (i) the Arrangement, (ii) the adoption by the REIT of a unit\n option plan, (iii) the adoption by the REIT of a unitholder rights\n plan, (iv) the entering into of a management agreement with Edgefront\n Realty Advisors Inc. pursuant to which Edgefront Realty Advisors Inc.\n will be entitled to receive unit compensation for the provision of\n advisory services to the REIT (the \"Management Agreement Resolution\") and (v) the acquisition of the Cambridge and Oakville Properties (as\n defined below) from MM Sam Ltd. (the \"Acquisition Resolution\"). The resolution regarding the Arrangement p...