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SANDPIPER GROUP CONTINUES TO INCREASE POSITION IN ARTIS REAL ESTATE INVESTMENT TRUST TO OVER 16%
SANDPIPER GROUP CONTINUES TO INCREASE POSITION IN ARTIS REAL ESTATE INVESTMENT TRUST TO O...
About this update from Rfa Financial Inc.
[{"type":"text","content":"\n \n \n \n SANDPIPER GROUP CONTINUES TO INCREASE POSITION IN ARTIS REAL ESTATE INVESTMENT TRUST TO OVER 16%\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Nov. 14, 2022\n \n \n /CNW/ - Sandpiper Group (\"\n \n Sandpiper\n \n \"), together with its joint actors, has increased its position in Artis Real Estate Investment Trust (\"\n \n Artis\n \n \" or the \"\n \n REIT\n \n \") (TSX: AX.UN) to 16.14%.\n \n \n \n \n \n \n \n \n \n As a result of the purchases of units of Artis (\"\n \n Units\n \n \"), Sandpiper, together with its joint actors, owns and exercises control and direction over an aggregate of 18,685,759 Units\n \n ,\n \n representing approximately 16.14% of the 115,787,822 issued and outstanding Units (as reported in Artis' Management's Discussion and Analysis, dated\n \n November 3, 2022\n \n ). Between\n \n March 19, 2021\n \n , and\n \n November 14, 2022\n \n (excluding Artis blackout periods), Sandpiper, together with its joint actors, acquired 2,316,775 Units in the open market under the facilities of the Toronto Stock Exchange, representing approximately 2% of the current issued and outstanding Units (collectively, the \"\n \n Acquisitions\n \n \"). The net aggregate consideration paid to acquire the Units that are the subject of the accompanying Early Warning Report filed by Sandpiper is\n \n $25.5 million\n \n , being 2,316,775 Units at an average price of\n \n $11.01\n \n per Unit. Prior to the Acquisitions, Sandpiper, together with its joint actors, owned and exercised control and direction over 16,368,984 Units, representing approximately 12.25% of the issued and outstanding Units (as reported in Artis' Monthly Cash Distribution Announcement, dated\n \n March 15, 2021\n \n ).\n \n \n The Units were acquired for investment purposes. Sandpiper believes that the units of Artis are undervalued and represent an attractive investment opportunity.\n \n \n \"Our long-term commitment and thesis in Artis remain intact. We are confident in the Board and management as they continue ...