Business
Ravelin Properties REIT Receives Final Order Approving Plan of Arrangement with Clarke Inc.
Toronto, Ontario--(Newsfile Corp. - May 27, 2026) - Ravelin Properties REIT (TSX: RPR.UN) (the "REIT") announces that the Ontario Superior Court of Justice (Commercial List) issued a final order today (the "Final Order") in connection with the previously announced plan of arrangement under the Canada Business Corporations Act (the "Arrangement"), pursuant to which Clarke Inc. will acquire all of the outstanding units of the REIT (the "REIT Units") and all of the REIT's outstanding 9.00%...
About this update from Ravelin Properties Reit
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - May 27, 2026) - Ravelin Properties REIT (TSX: RPR.UN) (the "REIT") announces that the Ontario Superior Court of Justice (Commercial List) issued a final order today (the "Final Order") in connection with the previously announced plan of arrangement under the Canada Business Corporations Act (the "Arrangement"), pursuant to which Clarke Inc. will acquire all of the outstanding units of the REIT (the "REIT Units") and all of the REIT's outstanding 9.00% convertible unsecured subordinated debentures, 5.50% convertible unsecured subordinated debentures and 7.50% convertible unsecured subordinated debentures (collectively, the "REIT Debentures", and together with the REIT Units, the "REIT Securities"). The Final Order was the final substantive approval required prior to the closing of the Arrangement. It is anticipated that the Arrangement will be completed on or about May 29, 2026 (the "Effective Date"), subject to the satisfaction of customary closing conditions.","length":1084,"tagName":"p"},{"type":"text","content":"It is anticipated that the REIT Securities will be delisted from the Toronto Stock Exchange ("TSX") and that the REIT will apply to cease to be a reporting issuer in all jurisdictions in which it is a reporting issuer under Canadian securities laws, in each case shortly after completion of the Arrangement.","length":317,"tagName":"p"},{"type":"text","content":"About Ravelin Properties REIT (TSX: RPR.UN)","length":43,"tagName":"p"},{"type":"text","content":"The REIT owns and operates a portfolio of well-located commercial real estate assets in North America and Europe. The majority of the REIT's portfolio is comprised of government and high-quality credit tenants. Further information about the REIT is available on SEDAR+ at www.sedarplus.ca and www.ravelinreit.com.","length":317,"tagName":"p"},{"type":"text","content":"Forward-Looking Statements","length":26,"tagName":"p"},{"type":"text","content":"Certain statements contained in this news release contain "forward-looking information" within the meaning of applicable securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future...