RioCan Real Estate Investment Trust Establishes Automatic Securities Repurchase Plan
12 Dezembro 2022 - 10:00AM
RioCan Real Estate Investment Trust (“RioCan”) (TSX:REI.UN) today
announced that it has established an automatic securities purchase
plan (“ASPP”) in connection with its previously announced normal
course issuer bid (“NCIB”) applicable to its outstanding trust
units (“Units”). The ASPP is intended to allow for the purchase of
Units under the NCIB at times when RioCan would ordinarily not be
permitted to purchase Units due to regulatory restrictions and
customary self-imposed blackout periods.
Pursuant to the ASPP, purchases will be made by
RioCan’s designated broker based on pre-established purchasing
parameters, in accordance with the rules of the Toronto Stock
Exchange (“TSX”), applicable securities laws and the terms of the
ASPP. The ASPP has been pre-cleared by the TSX and will be
implemented effective today.
Outside of pre-determined blackout periods,
Units may be purchased under the NCIB at such times as RioCan may
determine in compliance with TSX rules and applicable securities
laws. The NCIB commenced on November 7, 2022 and will terminate on
November 6, 2023 or such earlier time as RioCan completes its
purchases pursuant to the bid or provides notice of termination.
The NCIB permits RioCan to purchase for cancellation up to a
maximum of 30,247,803 Units. All purchases made under the ASPP will
be included in computing the number of Units purchased under the
NCIB.
About RioCan
RioCan is one of Canada’s largest real estate
investment trusts. RioCan owns, manages and develops
retail-focused, increasingly mixed-use properties located in prime,
high-density transit-oriented areas where Canadians want to shop,
live and work. As at September 30, 2022, our portfolio is comprised
of 198 properties with an aggregate net leasable area of
approximately 34.8 million square feet (at RioCan's interest)
including office, residential rental and 11 development properties.
To learn more about us, please visit www.riocan.com.
Forward-Looking
Information
This News Release contains forward-looking
information within the meaning of applicable Canadian securities
laws. This information reflects RioCan’s objectives, our strategies
to achieve those objectives, as well as statements with respect to
management’s beliefs, estimates and intentions concerning
anticipated future events, results, circumstances, performance or
expectations that are not historical facts. Forward-looking
information generally can be identified by the use of
forward-looking terminology such as “outlook”, “objective”, “may”,
“will”, “would”, “expect”, “intend”, “estimate”, “anticipate”,
“believe”, “should”, “plan”, “continue”, or similar expressions
suggesting future outcomes or events. Such forward-looking
information reflects management’s current beliefs and is based on
information currently available to management. All forward-looking
information in this News Release is qualified by these cautionary
statements.
Forward-looking information is not a guarantee
of future events or performance and, by its nature, is based on
RioCan’s current estimates and assumptions, which are subject to
numerous risks and uncertainties, including those described in the
“Risks and Uncertainties” section in RioCan's MD&A for three
and nine months ended September 30, 2022 and in our most recent
Annual Information Form, which could cause actual events or results
to differ materially from the forward-looking information contained
in this News Release. General economic conditions, including
interest rate fluctuations, may also have an effect on RioCan’s
results of operations.
The forward-looking statements contained in this
News Release are made as of the date hereof, and should not be
relied upon as representing RioCan’s views as of any date
subsequent to the date of this News Release. Management undertakes
no obligation, except as required by applicable law, to publicly
update or revise any forward-looking information, whether as a
result of new information, future events or otherwise.
For further information contact:
RioCan Real Estate Investment TrustDennis
BlasuttiChief Financial Officer416-866-3033
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