Plaza Retail REIT (TSX:PLZ.UN) announces an Equity Buyback for 6,472,223 shares, representing 6.36% of its issued share capital.
September 24, 2020 at 07:12 am EDT
Share
Plaza Retail REIT (TSX:PLZ.UN) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 6,472,223 trust units, representing 6.36% of its issued and outstanding trust units. The repurchased shares will be cancelled. The repurchase program will expire on September 27, 2021, or on the earlier of the date on which purchases under the bid have been completed. As of September 14, 2020, the company had 101,777,198 units issued and outstanding.
Plaza Retail REIT (Trust) is a Canada-based open-ended real estate investment trust. The Trust is a developer, owner and manager of retail real estate located primarily in Ontario, Quebec and Atlantic Canada. Its portfolio includes interests in approximately 234 properties totaling approximately 8.8 million square feet across Canada and additional lands held for development. The properties are indirectly held by Plaza through its subsidiaries and through joint arrangements. Its portfolio largely consists of open-air centers and stand-alone small box retail outlets and is predominantly occupied by national tenants with a focus on the essential needs, value and convenience market segments. The Trust's portfolio consists of Alberta, Manitoba, New Brunswick, Newfoundland and Labrador, New Brunswick, Nova Scotia, Ontario, Prince Edward Island, and Quebec.
PLAZA RETAIL REIT 
