TORONTO, April 14, 2016 /CNW/ - 975393 Ontario Inc. ("975393") announced today that it has entered into an agreement to purchase 2,100,000 units of Partners Real Estate Investment Trust (the "REIT"). These units represent approximately 6.3% of the 33,547,277 issued and outstanding units of the REIT (based upon the units stated to be issued and outstanding as at March 21, 2016 by REIT in its annual information form dated March 21, 2016). The units were purchased by 975393 in a private transaction at a price of $4.50 per unit.
After giving effect to the transaction noted above, 975393 and its joint actors now have ownership and control over 4,571,736 units of the REIT, representing approximately 13.6% of the outstanding units of the REIT as at March 21, 2016.
975393 and its joint actors hold units of the REIT for investment purposes and may, from time to time, directly or indirectly acquire ownership of or control over additional units of the REIT or dispose of units of the REIT. 975393 and its joint actors may, from time to time and in accordance with applicable law, have discussions with other unitholders of the REIT and its board of trustees regarding the REIT, its prospects and potential means for enhancing unitholder value and corporate governance or initiate or participate in such other actions as it considers necessary to enhance unitholder value or corporate governance at the REIT.
An early warning report in connection with this press release is being filed by 975393 in accordance with applicable Canadian securities laws and will be available on the SEDAR website at www.sedar.com.
975393 Ontario Inc.
73 Widdicombe Hill Blvd, Suite 1604
SOURCE 975393 Ontario Inc.
For further information: To obtain a copy of the early warning report to which this press release relates, please contact: Michael Partridge, 416-597-5498