TORONTO, May 13, 2013 /CNW/ - KEYreit (TSX: KRE.UN) today reminds unitholders that Plazacorp's offer to acquire 100% of the issued and outstanding trust units (the "Units") of KEYreit for $8.35 per Unit in cash, subject to a maximum aggregate cash amount of approximately $62.1 million, representing approximately 50% of the consideration, 1.7041 Plazacorp shares per Unit or any combination thereof, subject to proration (the "Plazacorp Offer") will expire at 8:00 p.m. (Toronto time) on May 16, 2013, and urges unitholders to tender their Units to the Plazacorp Offer prior to the expiry time.
The KEYreit board of trustees reiterates its support of, and UNANIMOUS RECOMMENDATION that unitholders ACCEPT, the Plazacorp Offer and TENDER their Units to the Plazacorp Offer by 8:00 p.m. (Toronto time) on May 16. All of the trustees and officers of KEYreit have accepted the Plazacorp Offer and have tendered their Units to the Plazacorp Offer.
If you require assistance in depositing your Units to the Plazacorp Offer, please contact your investment advisor or KEYreit's information agent, Kingsdale Shareholder Services Inc., at 1-888-518-1562 toll-free in North America or at 416-867-2275 outside of North America (collect calls accepted) or by email at email@example.com.
KEYreit (TSX: KRE.UN) is Canada's premier small-box retail property owner with 227 properties in nine provinces across Canada. KEYreit's properties are well located and geographically diverse across Canada with the majority of all properties containing long-term quadruple net leases.
This press release contains certain information or statements that may constitute forward-looking information within the meaning of securities laws, which reflect the current view of KEYreit with respect to KEYreit's objectives, plans, goals, strategies, future growth, results of financial and operating performance and business prospects and opportunities. In some cases, forward-looking information can be identified by the use of terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "forecast", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Forward-looking information should not be read as guarantees of future events, performance or results, and will not necessarily be accurate indications of whether, or the times at which, such events, performance or results will be achieved. All of the statements and information in this press release containing forward-looking information are qualified by these cautionary statements.
Forward-looking statements are based on information available at the time they are made, underlying estimates and assumptions made by management and management's good faith belief with respect to future events, performance and results, and are subject to inherent risks and uncertainties surrounding future expectations generally which could cause actual results to differ materially from what is currently expected. Such risks and uncertainties include, but are not limited to, reliance on key tenants, risks associated with investment in real property, competition, reliance on key personnel, financing and refinancing risks, distributions, environmental matters, tenant risks, risks related to current economic conditions and other risk factors more particularly described in KEYreit's most recent Annual Information Form available on SEDAR at www.sedar.com. Additional risks and uncertainties not presently known to KEYreit or that KEYreit currently believes to be less significant may also adversely affect KEYreit.
KEYreit cautions readers that the list of factors is not exhaustive and that should certain risks or uncertainties materialize, or should underlying estimates or assumptions prove incorrect, actual events, performance and results may vary significantly from those expected. There can be no assurance that the actual results, performance, events or activities anticipated by KEYreit will be realized or, even if substantially realized, that they will have the expected consequences to, or effect on, KEYreit. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date.
KEYreit disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
For further information:
Investor relations, please contact:
Chief Financial Officer
KEYreit unitholders, please contact:
Kingsdale Shareholder Services Inc.
1-888-518-1562 toll-free in North America
1-416-867-2272 outside of North America (collect calls accepted)
Media, please contact: