TORONTO, May 18, 2012 /CNW/ - TransGlobe Apartment Real Estate Investment Trust (TSX: TGA.UN, TGA.DB) (the "REIT") today announced that further to its previous press release dated May 15, 2012, it has commenced a consent solicitation (the "Consent Solicitation") to obtain approval for certain proposed amendments (the "Proposed Amendments") to the trust indenture (the "Indenture") governing its 5.40% Extendible Convertible Unsecured Subordinated Debentures due September 30, 2018 (the "Debentures").
This press release is neither a solicitation of consents, an offer to purchase the Debentures nor a solicitation of an offer to sell securities. The specific terms and conditions of the Consent Solicitation and the Proposed Amendments are consistent with those described in the REIT's previous press release dated May 15, 2012 and are set out in the consent solicitation statement relating to the Consent Solicitation (the "Consent Solicitation Statement"), which the REIT has filed on SEDAR. As previously announced, the record date for the Consent Solicitation is 5:00 p.m. (Eastern time) on May 14, 2012.
Kingsdale Shareholder Services Inc. ("Kingsdale") has been retained as Solicitation Agent and Information Agent in connection with the Consent Solicitation. Debentureholders with questions or requiring assistance in completing the appropriate Consent form should contact Kingsdale at toll-free 1-866-229-8651 or outside North America 1-416-867-2272 (collect calls accepted). Requests for assistance in completing an appropriate Consent form, or requests for copies of the Consent Solicitation Statement, an appropriate consent form or other related documents should be directed to Kingsdale by calling the Toll-Free Number 1-866-229-8651(outside North America 1-416-867-2272) or by email at firstname.lastname@example.org.
In addition, CIBC World Markets Inc. ("CIBC") has been engaged to act as the soliciting dealer manager in connection with the Consent Solicitation. Questions concerning the terms of the Consent Solicitation can also be directed to CIBC at 1-866-744-2030 or by email at email@example.com.
About TransGlobe Apartment REIT
The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT owns a geographically diverse portfolio of 176 residential rental properties containing approximately 21,771 suites principally located in urban centres in Alberta, Ontario, Québec, New Brunswick and Nova Scotia.
Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. Forward-looking information may relate to the REIT's future outlook and anticipated events or results and may include statements regarding the financial position, business strategy, budgets, litigation, projected costs, capital expenditures, financial results, taxes, plans and objectives of or involving the REIT. Particularly, statements regarding future results, performance, achievements, prospects or opportunities for the REIT or the real estate industry are forward-looking statements. In some cases, forward-looking information can be identified by such terms such as "may", "might", "will", "could", "should", "would", "occur", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue", "likely", "schedule", or the negative thereof or other similar expressions concerning matters that are not historical facts. Some of the specific forward-looking statements in this press release include, but are not limited to, statements with respect to the following: the expected completion of the Transaction and the conditions thereto required to be satisfied or waived by the applicable parties; the treatment of holders of Debentures; the uncertainty of the success of the Consent Solicitation and the effects and consequences of defeasing the Debentures.
Although the forward-looking statements contained in this press release are based upon assumptions that management of the REIT believes are reasonable based on information currently available to management, there can be no assurance that actual results will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond the REIT's control, which may cause actual results to differ materially from those expressed or implied by such forward-looking statements.
The forward-looking statements made in this press release relate only to events or information as of the date hereof. Except as required by applicable Canadian law, the REIT undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
For further information:
Kingsdale Shareholder Services Inc. 1-866-229-8651 or outside North America 1-416-867-2272 (collect calls accepted).