TORONTO, Dec. 30,
2024 /CNW/ - Minto Apartment Real Estate Investment
Trust (the "REIT") (TSX: MI.UN) today announced that it has
established an automatic securities purchase plan ("ASPP") in
connection with its previously announced normal course issuer bid
("NCIB") applicable to its outstanding trust units ("Units"). The
ASPP is intended to allow for the purchase of Units under the NCIB
at times when the REIT would ordinarily not be permitted to
purchase Units due to regulatory restrictions and customary
self-imposed blackout periods.
Pursuant to the ASPP, purchases will be made by the REIT's
designated broker based on pre-established purchasing parameters,
in accordance with the rules of the Toronto Stock Exchange ("TSX"),
applicable securities laws and the terms of the ASPP. The ASPP
will be implemented effective today.
Outside of pre-determined blackout periods, Units may be
purchased under the NCIB at such times as the REIT may determine in
compliance with TSX rules and applicable securities laws. The NCIB
commenced on September 27, 2024 and
will terminate on September 26, 2025
or such earlier time as the REIT completes its purchases pursuant
to the bid or provides notice of termination. The NCIB permits the
REIT to purchase for cancellation up to a maximum of 3,283,584 of
its Units. All purchases made under the ASPP will be included in
computing the number of Units purchased under the NCIB.
About Minto Apartment Real Estate Investment
Trust
Minto Apartment Real Estate Investment Trust is an
unincorporated, open-ended real estate investment trust established
pursuant to a declaration of trust under the laws of the Province
of Ontario to own income-producing
multi-residential properties located in urban markets in
Canada. The REIT owns a portfolio
of high-quality income-producing multi-residential rental
properties located in Toronto,
Montreal, Ottawa, and Calgary. For more information on Minto
Apartment Real Estate Investment Trust, please visit the REIT's
website at: www.mintoapartmentreit.com.
Forward-Looking Information
This news release may contain forward-looking information within
the meaning of applicable securities legislation, which reflects
the REIT's current expectations regarding future events and in some
cases can be identified by such terms as "will", "may" and
"believes". In particular, this news release contains
forward-looking information in relation to the NCIB.
Forward-looking information reflects management's current beliefs
and is based on a number of assumptions that the REIT believes are
reasonable 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. Such
risks and uncertainties include, but are not limited to, the
factors discussed under "Risks and Uncertainties" in the REIT's
Management Discussion & Analysis for the third quarter of 2024,
dated November 12, 2024, which is
available on SEDAR+ (www.sedarplus.ca). The REIT does not undertake
any obligation to update such forward-looking information, whether
as a result of new information, future events or otherwise, except
as expressly required by applicable law. This forward-looking
information speaks only as of the date of this news release.
SOURCE Minto Apartment Real Estate Investment Trust
