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True North Commercial REIT Announces Completion of 5.75:1 Unit Consolidation
True North Commercial REIT Announces Completion of 5.75:1 Unit Consolidation Canada New...
About this update from True North Commercial Reit
[{"type":"text","content":"\n \n \n \n True North Commercial REIT Announces Completion of 5.75:1 Unit Consolidation\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 /NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S. NEWSWIRES/\n \n \n \n \"This news release constitutes a \"designated news release\" for the purposes of the REIT's prospectus supplement dated\n \n April 21, 2022\n \n to its short form base shelf prospectus dated\n \n February 17, 2022\n \n .\"\n \n \n \n \n TORONTO\n \n \n ,\n \n \n Nov. 23, 2023\n \n \n /CNW/ - True North Commercial Real Estate Investment Trust (TSX: TNT.UN) (the \"\n \n REIT\n \n \") today announced, that further to its press release dated\n \n November 13, 2023\n \n , it has completed the consolidation (\"\n \n Consolidation\n \n \") of its trust units (\"\n \n Units\n \n \"), the special voting units of the REIT, and the class B limited partnership units (\"\n \n Class B LP Units\n \n \") of True North Commercial Limited Partnership on the basis of 5.75:1. At the opening of the Toronto Stock Exchange on\n \n November 24, 2023\n \n , the Units will continue trading under the existing ticker symbol \"TNT.UN\" with a new CUSIP: 89784Y407.\n \n \n As at the date hereof, and following the Consolidation there are 16,003,513 Units and 420,887 Class B LP Units issued and outstanding. Immediately prior to the Consolidation, the REIT had 92,020,251 Units and 2,420,164 Class B LP Units issued and outstanding. No fractional Units or Class B LP Units were issued in connection with the Consolidation and no cash will be paid in lieu of fractional post-consolidation Units or Class B LP Units. In the event that a registered unitholder would otherwise be entitled to receive a fractional Unit or Class B LP Unit upon the Consolidation, such fraction was rounded down to the nearest whole number.\n \n \n A letter of transmittal has been mailed to registered unitholders. The letter of transmittal contains instructions on how registered unitholders can exchange their unit certificates evidencing their pre-Consolidation Units and Class B LP Un...