/NOT FOR DISTRIBUTION ON U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE
HALIFAX, Sept. 26, 2012 /CNW/ - Holloway Lodging Real Estate Investment
Trust (TSX: HLR.UN) ("Holloway") announced today that it has entered
into an automatic securities purchase plan (the "Plan") with a broker
in order to facilitate repurchases of its trust units (the "Units")
under its previously announced normal course issuer bid ("NCIB").
Purchases under the Plan will be made by Holloway's broker based on the
parameters prescribed by the TSX, applicable Canadian securities laws
and the terms of the parties' written agreement. The Plan is intended
for the purchase of Units only under the NCIB.
Under the Plan, Holloway's broker may purchase Units under the NCIB when
Holloway would ordinarily not be permitted to, due to its self-imposed
regular quarterly blackout periods. The Plan commences on October 1,
2012 and expires with the NCIB on August 14, 2013.
ABOUT HOLLOWAY LODGING REAL ESTATE INVESTMENT TRUST
Holloway is a real estate investment trust focused on acquiring, owning
and operating select and limited service lodging properties and a small
complement of full service hotels primarily in secondary, tertiary and
suburban markets. Holloway owns 17 hotels with 1,665 rooms. Holloway's
trust units trade on the TSX under the symbol HLR.UN.
This press release contains forward-looking information within the
meaning of applicable securities laws. Forward-looking information may
relate to Holloway's future outlook and anticipated events or results
and may include statements regarding Holloway's future financial
position, business strategy, financial results, plans and objectives.
In some cases, forward-looking information can be identified by terms
such as "may", "will", "should", "expect", "plan", "anticipate",
"believe", "intend", "estimate", "predict", "potential", "continue" or
other similar expressions concerning matters that are not historical
facts. Forward-looking information is subject to certain factors,
including risks and uncertainties, that could cause actual results to
differ materially from what the REIT currently expects and there can be
no assurance that such statements will prove to be accurate. Some of
these risks and uncertainties are described under "Risk Factors" in
Holloway's annual information form for the year ended December 31, 2011
which is available on the REIT's profile on the SEDAR website at www.sedar.com. The REIT does not intend to update or revise any such forward-looking
information should its assumptions and estimates change.
SOURCE: HOLLOWAY LODGING REAL ESTATE INVESTMENT TRUST
For further information:
Michael Rapps, Chairman, at (416) 855-1925 or Jane Rafuse, Chief Financial Officer, at (902) 443-5101