Cominar launches its unit repurchase program



    QUEBEC CITY, March 6 /CNW Telbec/ - Cominar Real Estate Investment Trust
announced that Toronto Stock Exchange has approved its unit repurchase
program, authorizing Cominar to purchase up to 2,265,278 of the
45,305,565 units issued and outstanding as at February 25, 2008 (representing
5% of Cominar's issued and outstanding Units as at that date), as an
appropriate use of Cominar's funds. By making such purchases, the number of
units in circulation will be reduced and the proportionate interest of all
remaining unitholders in the capital of Cominar will be increased on a pro
rata basis.
    Cominar will also have the flexibility to purchase units on the open
market through the facilities of Toronto Stock Exchange, from time to time,
over the course of twelve months commencing March 10, 2008 and ending on
March 9, 2009. The average daily trading volume of the units was 83,912 units
on the TSX over the last six months. Accordingly, Cominar is entitled to
purchase up to 25% of the average daily trading volume of the units on any
trading day, being 20,978 units. All units purchased under the unit repurchase
program will be cancelled.

    Portfolio as at March 6, 2008
    -----------------------------

    Cominar is one of the largest retail property owners and managers in the
Province of Québec. Cominar owns a real estate portfolio of 208 high quality
properties, consisting of 36 office, 38 retail and 134 industrial and
mixed-use buildings that cover a total area of over 17 million square feet in
the Greater Quebec City, Montreal and Ottawa areas. Cominar's objectives are
to deliver growing cash distributions to its unitholders and to maximize
unitholder value through proactive management and the growth of its portfolio.




For further information:

For further information: Mr. Michel Dallaire, P.Eng., President and
Chief Executive Officer, Cominar Real Estate Investment Trust, (418) 681-8151

Organization Profile

Cominar Real Estate Investment Trust

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890