EARLY WARNING NEWS RELEASE PURSUANT TO SECTION 102.1 OF THE SECURITIES ACT (ONTARIO) AND NATIONAL INSTRUMENT 62-103
TORONTO, May 14, 2014 /CNW/ - Further to disclosure requirements of applicable securities laws, Mitchell Goldhar announces that he has, since the last early warning report dated May 7, 2013, acquired, directly or indirectly through controlled affiliates, beneficial ownership of voting securities of Retrocom Real Estate Investment Trust (the "REIT") as follows: (i) 8,694,924 special voting units ("Special Voting Units") pursuant to the terms of the Fifth Amended and Restated Declaration of Trust of the REIT dated August 1, 2013 (the "Declaration of Trust"), whereby Mr. Goldhar has minimum voting entitlements in specified circumstances; and (ii) 753,861 Special Voting Units pursuant to private placements in the context of a previously disclosed purchase and sale transaction completed in August 2013 (collectively, the "SVU Acquisitions").
After giving effect to the SVU Acquisitions, Mr. Goldhar, directly or indirectly, has beneficial ownership of, or control over, 18,559,054 Special Voting Units representing approximately 100% of the outstanding Special Voting Units, which, together with Mr. Goldhar's beneficial ownership of, or control over, 1,704,700 units of the REIT, represent an approximate 25% voting interest in the REIT over which Mr. Goldhar has ownership or control as of the date hereof. The SVU Acquisitions represent approximately 11.7% the REIT's issued and outstanding voting interests.
The securities are being held by Mr. Goldhar for investment purposes. Other than transactions with the REIT contemplated from time to time, Mr. Goldhar has no present intention of acquiring any additional Special Voting Units, units of the REIT or securities convertible or exchangeable into securities of the REIT, other than as described above. However, Mr. Goldhar reserves the right, depending on the circumstances, including market conditions, to make further purchases, or disposals, of Special Voting Units, units or securities convertible or exchangeable into securities of the REIT in the future.
This news release is being issued as required by National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
SOURCE: Mitchell Goldhar
For further information:
Further information (including a copy of the early warning report to be filed on SEDAR) can be obtained at www.sedar com under the REIT's company profile or by contacting Joseph Amato of SmartCentres at 905-760-6200.