TORONTO, Aug. 31, 2022 /CNW/ - 893353 Alberta Inc.
("Dilawri") today announced that, it has acquired beneficial
ownership of, or control or direction over 1,004,200 trust units
("Units") of Automotive Properties Real Estate Investment Trust
("REIT") (TSX: APR.UN), through the facilities of the Toronto Stock
Exchange between November 29, 2021
and August 30, 2022 at a weighted
average price of $13.38 per Unit.
These units were acquired through Dilawri subsidiaries 2030445
Ontario Inc and Traks Communications Ltd. The Units acquired by
Dilawri represent 2.05% of the issued and outstanding Class A and
Class B units of the REIT (the "Acquisition").
Prior to the Acquisition, Dilawri beneficially owned, or had
control or direction over 3,827,554 Class A Units, representing
9.80% of the REIT's issued and outstanding Units, and 9,933,253
class B limited partnership units ("Class B LP Units") of
Automotive Properties Limited Partnership (the "Partnership"), the
operating subsidiary of the REIT, representing 100% of the issued
and outstanding Class B LP Units, together with 9,933,253 special
voting units ("Special Voting Units") of the REIT, representing
100% of the issued and outstanding Special Voting Units. The Class
B LP Units are economically equivalent to and exchangeable on a
one-for-one basis for Units (subject to customary anti-dilution
protections). Following the Acquisition, Dilawri has beneficial
ownership of, or control or direction over, 5,437,520 of Class A
Units and 9,327,487 of Class B LP Units, representing 30.11% of the
issued and outstanding Class A and Class B units combined.
The Units were acquired for investment purposes. Dilawri and its
affiliates may determine to purchase additional units in the open
market or otherwise or sell all or some of the units, depending
upon price, market conditions, availability of funds, evaluation of
alternative investments and other factors.
An early warning report in respect of the Acquisition will be
filed in accordance with applicable securities laws and will be
available on SEDAR at www.sedar.com or may be obtained directly
from James Matthews, Executive Vice
President of Dilawri upon request at the telephone number
below.
About Dilawri Group of Companies
Privately owned and
operated since 1985, today Dilawri continues to build on its
history of excellence as Canada's
largest automotive group. The company is proud to offer exceptional
products and customer service, delivered by more than 3,000
employees. Dilawri's national network represents more than 35 of
the world's most beloved automotive brands at over 75 franchised
dealerships in Canada and
the United States.
Dilawri is committed to leadership in the communities it serves
as well as in business. Since 2002, the Dilawri Foundation has
contributed millions of dollars to a wide range of charitable
causes.
To learn more about Dilawri, visit dilawri.ca.
SOURCE 9458735 Canada Ltd.