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NorthWest Healthcare Properties REIT Announces Intention to Make Normal Course Issuer Bid, Authorization of Automatic Securities Purchase Plan and Suspension of Distribution Reinvestment Plan
NorthWest Healthcare Properties REIT Announces Intention to Make Normal Course Issuer Bid,...
About this update from Vital Infrastructure Property Trust
[{"type":"text","content":"\n\n\n\nNorthWest Healthcare Properties REIT Announces Intention to Make Normal Course Issuer Bid, Authorization of Automatic Securities Purchase Plan and Suspension of Distribution Reinvestment Plan\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\nCanada NewsWire\nTORONTO, March 24, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n TORONTO, March 24, 2020 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX:NWH.UN) (the \"REIT\") announced today that the Toronto Stock Exchange (the \"TSX\") has approved the REIT's intention to make a normal course issuer bid (\"NCIB\") for a portion of its trust units (\"Units\") as appropriate opportunities arise from time to time. \nPursuant to the NCIB notice filed with the TSX, the REIT intends to acquire up to a maximum of 15,078,071 of its Units, or approximately 10% of its public float as of March 23, 2020, for cancellation over the next 12 months. As of March 23, 2020, the REIT had 160,334,625 issued and outstanding Units.\nPurchases under the NCIB will be made through the facilities of the TSX or through a Canadian alternative trading system and in accordance with applicable regulatory requirements at a price per Unit representative of the market price at the time of acquisition. In accordance with temporary relief announced by the TSX on March 23, 2020, the number of Units that can be purchased pursuant to the NCIB is subject to a current daily maximum of 195,007 Units (which is equal to 50% of 390,014, being the average daily trading volume from September 1, 2019 through to February 29, 2020). Following the expiry of such temporary relief on June 30, 2020 (or such later date as may be announced by the TSX), the number of Units that can be purchased pursuant to the NCIB will be subject to a daily maximum of 97,503 Units (which is equal to 25% of 390,014, being the average daily trading volume from September 1, 2019 through to February 29, 2020). The daily maximum shall be subject to the REIT's ability to make one block p...