TORONTO, Dec. 12, 2012 /CNW/ - Credit Suisse Securities (Canada), Inc. ("CSSC") announces that it acquired 681,600 units ("Units") of Primaris Retail Real Estate Investment Trust ("Primaris") on December 11, 2012, which represents approximately 0.72% of the issued and outstanding Units of Primaris. Immediately following the acquisition, CSSC held 5,400,834 Units of Primaris, which represents approximately 5.68 % of the issued and outstanding Units of Primaris.
CSSC has acquired beneficial ownership of 681,600 Units of Primaris since KS Acquisition II LP, a limited partnership equally owned beneficially by a KingSett Capital-managed fund and by Ontario Pension Board, formally launched its offer to purchase all of the outstanding Units of Primaris on December 10, 2012.
CSSC acquired the Units through the Toronto Stock Exchange to offset risk as part of a broader client transaction and not with the purpose of influencing the control or direction of Primaris. CSSC may in the future, subject to market conditions, make additional investments in or dispositions of Primaris' securities for purposes of managing risk.
This press release is issued by CSSC pursuant to section 102.2 of the Securities Act (Ontario), OSC Rule 62-504 Take-Over Bids and Issuer Bids and Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids. CSSC will file a press release in respect of this acquisition with the applicable Securities Commission or Securities Regulator in each jurisdiction in which Primaris is a reporting issuer.
Credit Suisse Securities (Canada), Inc.
1 First Canadian Place
100 King Street West, Suite 2900
Canada M5X 1C9
SOURCE: Credit Suisse Securities (Canada)
For further information:
please contact Jack Grone at (212) 325-2590.