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PROREIT Announces September 2020 Distribution and Renewal of Normal Course Issuer Bid
PROREIT Announces September 2020 Distribution and Renewal of Normal Course Issuer Bid ...
About this update from Pro Real Estate Investment Trust
[{"type":"text","content":"PROREIT-Dividends\n \n \n \n PROREIT Announces September 2020 Distribution and 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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n MONTRÉAL, Sept. 21, 2020\n \n \n \n \n \n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR DISTRIBUTION THROUGH\n \n UNITED STATES\n \n NEWS OR WIRE SERVICES./\n \n \n \n MONTRÉAL,\n \n Sept. 21, 2020\n \n /CNW Telbec/ - PRO Real Estate Investment Trust (\"\n \n PROREIT\n \n \" or the \"\n \n REIT\n \n \") (TSX: PRV.UN) announced today that a cash distribution of\n \n $0.0375\n \n per trust unit of the REIT (\"\n \n Units\n \n \") for the month of\n \n September 2020\n \n will be payable on\n \n October 15, 2020\n \n to unitholders of record as at\n \n September 30, 2020\n \n .\n \n \n \n Renewal of Normal Course Issuer Bid\n \n \n \n PROREIT also announced today that the Toronto Stock Exchange (\"\n \n TSX\n \n \") has accepted the notice filed by the REIT to renew its normal course issuer bid (\"\n \n NCIB\n \n \") for a one-year period.\n \n \n The NCIB will commence on\n \n September 24, 2020\n \n and will terminate on the earlier of: (i)\n \n September 23, 2021\n \n , and (ii) the date on which the maximum number of Units that can be acquired pursuant to the NCIB are purchased. Purchases of Units under the NCIB will be effected through the facilities of the TSX or alternative Canadian trading systems at the market price at the time of purchase.\n \n \n The REIT may purchase up to 1,924,228 Units under the NCIB, representing 5.0% of the REIT's 38,484,562 issued and outstanding Units as at\n \n September 18, 2020\n \n . Pursuant to the rules of the TSX, the maximum number of Units that the REIT may purchase under the NCIB in any one day is 47,779 Units, which is 25% of the average daily trading volume of the Units on the TSX during the 6-month period ended\n \n August 31, 2020\n \n , being 191,118 Units. The REIT may also make one block purchase per calendar week which exceeds such daily purchase restriction, subject ...