RICHMOND, BC, April 2, 2013 /CNW/ - FAM Real Estate Investment Trust (TSX: F.UN) (TSX: F.WT) ("FAM REIT" or the "REIT") announced today that it has implemented a distribution reinvestment plan (the "DRIP") that takes effect with the distribution of $0.0625 per trust unit that is payable on May 15, 2013 to those unitholders of record on April 30, 2013.
Eligible unitholders (which will include holders of Class B limited partnership units of FAM Management Limited Partnership that are exchangeable into trust units of the REIT) that elect to participate in the DRIP will have their cash distributions used to purchase trust units of the REIT and will also receive a "bonus distribution" of units equal in value to 3% of each distribution. Unitholders wishing to participate should contact their investment advisors to enroll in the DRIP.
The REIT may initially issue up to 295,000 trust units of the REIT under the DRIP. The REIT may increase the number of trust units available to be issued under the DRIP at any time in its discretion subject to (a) the approval of the REIT's board of trustees, (b) the approval of any stock exchange upon which the trust units trade, and (c) public disclosure of such increase.
About FAM Real Estate Investment Trust
The REIT is a diversified commercial real estate investment trust focused on owning and acquiring strategically well-located industrial, office and retail real estate located primarily across Canada's large population centres.
This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the REIT's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the REIT's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. These forward-looking statements are made as of the date of this press release and, except as expressly required by applicable law, the REIT assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE: FAM Real Estate Investment Trust
For further information:
Shant Poladian, CA, CPA
Chief Executive Officer
FAM Real Estate Investment Trust