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Plaza Retail REIT Announces Normal Course Issuer Bid
Plaza Retail REIT Announces Normal Course Issuer Bid Canada NewsWire FREDERICTON...
About this update from Plaza Retail Reit
[{"type":"text","content":"\n\n\n\nPlaza Retail REIT Announces Normal Course Issuer Bid\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\nFREDERICTON, Sept. 26, 2018\n\n\n\nFREDERICTON, Sept. 26, 2018 /CNW/ - Plaza Retail REIT (\"Plaza\") (TSX: PLZ.UN) today announced the acceptance by the Toronto Stock Exchange (the \"TSX\") of its notice of intention to make a normal course issuer bid (\"NCIB\").  Pursuant to the NCIB, Plaza proposes to purchase through the facilities of the TSX and any alternative trading system in Canada, from time to time over the next twelve months, if considered advisable, up to an aggregate of 8,025,793 of Plaza's issued and outstanding trust units (the \"Units\"), being approximately 10% of Plaza's public float of Units as of September 14, 2018.  As of September 14, 2018, Plaza had 102,525,319 Units issued and outstanding and a public float of 80,257,936 Units.\nThe NCIB will commence on September 28, 2018 and will conclude on the earlier of the date on which purchases under the bid have been completed and September 27, 2019. Daily purchases made by Plaza through the TSX may not exceed 14,623 Units, being 25% of the average daily trading volume of the Units on the TSX for the six-month period ended August 31, 2018, subject to certain prescribed exemptions and any block purchase made in accordance with the rules of the TSX.  \nPlaza believes that Units may become available during the period of the NCIB at prices that would make the purchase of such Units in the best interests of Plaza and its unitholders and is a desirable use of Plaza's funds.  All Units that are purchased under the NCIB will be cancelled.\nABOUT PLAZA\nPlaza is an open-ended real estate investment trust and is a leading retail property owner and developer, focused on Ontario, Quebec and Atlantic Canada.  Plaza's portfolio at June 30, 2018 includes interests in 286 properties totaling approximately 8.1 million square feet across Canada and additional lands held for development. Plaza's properties include a mix of strip plazas, stand-alone small box retail out...