NorthWest International Healthcare Properties REIT releases Q2-2013 investor update and announces normal course issuer bid
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TORONTO, Oct. 4, 2013 /CNW/ - NorthWest International Healthcare Properties Real Estate Investment Trust (TSXV: MOB.UN) (the "REIT") announced today that it has released its Q2-2013 investor update presentation and will be hosting an investor update call on Wednesday October 9, 2013 at 11:00AM ET to discuss recent developments. In addition, the REIT announced today that the TSX Venture Exchange (the "TSXV") has accepted the notice filed by the REIT of its intention to make a normal course issuer bid through the facilities of the TSXV.
Q2-2013 Investor Update:
Further to the release of the REIT's second quarter results on August 30, 2013 and its recently announced $205 million acquisition of a portfolio of three private hospitals from Rede D'Or Sao Luiz S.A. (the "Rede D'Or Hospital Portfolio Acquisition"), the REIT has released an Q2-2013 investor update presentation which is available on its website at www.nwireit.com.
A conference call and live audio webcast hosted by Paul Dalla Lana, Chairman and Chief Executive Officer, and Brian Wilson, Interim Chief Financial Officer, will be held on Wednesday, October 9, 2013 at 11:00 AM ET.
The conference call can be accessed by dialing 416-640-3404 or 1-866-322-1159. The conference ID is 6639137.
Audio replay is available until Friday October 25, 2013 by dialing (647) 436-0148. The passcode is 6639137.
Normal Course Issuer Bid:
Pursuant to the notice accepted by the TSXV in respect of the REIT's intention to make a normal course issuer bid through the facilities of the TSXV, the REIT may, during the REIT may, during the twelve month period commencing October 10, 2013 and ending October 10, 2014, purchase for cancellation, through the facilities of the TSXV, up to (a) 2,276,159 trust units of the REIT (the "Units"), representing 5% of the issued and outstanding Units, (b) $1,130,000 principal amount of the 6.50% convertible unsecured subordinated debentures of the REIT, representing 5% of the outstanding principal amount of such debentures, and (c) $875,000 principal amount of the 7.50% convertible unsecured subordinated debentures of the REIT, representing 5% of the outstanding principal amount of such debentures. The member who will conduct the normal course issuer bid on behalf of the REIT is GMP Securities LP.
The trustees of the REIT believe that the current market prices of the REIT's securities do not reflect their underlying value and accordingly have determined that the purchase by the REIT of a portion of its outstanding securities may from time to time be an appropriate use of available resources and in the best interests of the REIT. The REIT has not previously acquired any of its securities under a normal course issuer bid.
From time to time, when the REIT does not possess material non-public information about itself or its securities, it may, in accordance with the requirements of applicable securities laws and the TSXV, enter into a pre-defined plan with its broker to allow for the purchase of securities at times when it ordinarily would not be active in the market due to internal trading blackout periods. Any such plan would be subject to the approval of the TSXV.
About NorthWest International Healthcare Properties Real Estate Investment Trust
The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. Including its investments in Vital Healthcare Property Trust (NSX:VHP) ("Vital Trust") and NorthWest Healthcare Properties Real Estate Investment Trust (TSX:NWH.UN) ("NWHP REIT"), the REIT holds interests in a portfolio of 109 income producing properties comprising approximately 6.6 million square feet of gross leasable area in Australasia, Brazil, Canada and Germany, with a focus on medical office buildings, hospitals and healthcare real estate.
Forward Looking Information
Certain statements contained in this press release may contain projections and "forward looking statements" within the meaning of that phrase under Canadian securities laws. When used in this new release, the words "may", "would", "should", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions may be used to identify forward looking statements. Those statements reflect the REIT's current views with respect to future events or conditions, including without limitation the REIT's views on the value of its securities and the REIT's intention to effect purchase under the normal course issuer bid. By their nature, forward looking statements reflect management's current views, beliefs and assumptions and are subject to certain risks and uncertainties, known and unknown, including, without limitation, risks disclosed in the short-form prospectus of the REIT dated August 23, 2013, the REIT's annual information form for the year ended December 31, 2012 and the REIT's other public filings. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward looking statements. The REIT does not intend to nor assume any obligation to update these forward looking statements whether as a result of new information, plans, events or otherwise, unless required by law.
The information concerning Vital Trust and NWHP REIT contained in this press release has been taken from, or is based upon, publicly available documents and records on file with regulatory bodies. Although the REIT has no knowledge that would indicate that any of such information is untrue or incomplete, the REIT was not involved in the preparation of any such publicly available documents and neither the REIT, nor any of its officers or trustees, assumes any responsibility for the accuracy or completeness of such information or the failure by Vital Trust and NWHP REIT to disclose events which may have occurred or may affect the completeness or accuracy of such information but which are unknown to the REIT.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE NorthWest International Healthcare Properties Real Estate Investment TrustFor further information:
Paul Dalla Lana
CEO, NorthWest International Healthcare Properties REIT
(416) 366-8300 ext. 1001