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
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
To find out more about KEYreit (TSX: KRE.UN), visit our website at www.keyreit.com.
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
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: