TORONTO, ONTARIO--(Marketwired - Aug. 28, 2014) - DREAM Unlimited Corp. (TSX:DRM)(TSX:DRM.PR.A) ("Dream") announced today that it has filed with the Toronto Stock Exchange (the "TSX") a Notice of Intention to make a normal course issuer bid. Under the bid, which is subject to acceptance by the TSX, Dream will have the ability to purchase for cancellation up to a maximum of 2,981,344 of its Class A Subordinate Voting Shares (representing 10% of Dream's public float of 29,813,441 Class A Subordinate Voting Shares) through the facilities of the TSX at prevailing market prices and in accordance with the rules and policies of the TSX. The actual number of Class A Subordinate Voting Shares that may be purchased and the timing of any such purchases will be determined by Dream, subject to a maximum daily purchase limitation of 13,242 shares which equals 25% of the average daily trading volume during the last six calendar months (being 52,968 shares per day), except where purchases are made in accordance with "block purchase" exemptions under applicable TSX rules. Dream is proposing to commence the bid on September 2, 2014 and have it remain in effect until the earlier of September 1, 2015 or the date on which Dream has purchased the maximum number of shares permitted under the bid. As of August 26, 2014, the number of issued and outstanding Class A Subordinate Voting Shares is 76,303,367.
Dream intends to make the bid because it believes that shares may become available during the period of the bid at prices that would make the purchase of such shares for cancellation in the best interests of Dream and its shareholders.
The Board of Directors of DREAM Unlimited Corp. is very pleased to announce the appointment of Vicky Schiff as an independent director of DREAM Unlimited Corp. Ms. Schiff was appointed to a term that expires at Dream's next annual meeting of shareholders. Ms. Schiff's appointment brings Dream's board to eight members.
Ms. Schiff is the founder of Oro Capital Advisors. She is a highly experienced and respected real estate executive, co-founding 4 firms over the past 18 years in the investment and real estate operating related sectors. She has been a frequent industry panelist, appeared on Bloomberg Television and written for various publications. Ms. Schiff has served on the board of a large U.S. based public pension fund and has been committed to service through various organizations, including as a board member of Young Presidents Organization (YPO), YPO's International Real Estate Network, YPO's Women's International Network, The Robert Toigo Foundation, The Lusk Center for Real Estate at USC and as the Co-Founder of PoWRE, an organization of elite C-Suite women real estate investors in the U.S. and Europe.
About DREAM Unlimited Corp.
Dream is one of Canada's leading real estate companies with approximately $14.6 billion of assets under management in North America and Europe. The scope of the business includes residential land development, housing and condominium development, asset management for three TSX-listed real estate investment trusts and one TSX-listed diversified, hard asset alternatives trust, investments in and management of Canadian renewable energy infrastructure and commercial property ownership. Dream has an established track record for being innovative and for its ability to source, structure and execute on compelling investment opportunities.
Forward Looking Information
This press release may contain forward‐looking information within the meaning of applicable securities legislation. Forward‐looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dream's control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward‐looking information. These risks and uncertainties include, but are not limited to general and local economic and business conditions, employment levels, regulatory risks, mortgage rates and regulations, environmental risks, consumer confidence, seasonality, adverse weather conditions, reliance on key clients and personnel and competition. All forward looking information in this press release speaks as of August 28, 2014. Dream does not undertake to update any such forward looking information whether as a result of new information, future events or otherwise. Additional information about these assumptions and risks and uncertainties is disclosed in filings with securities regulators filed on SEDAR (www.sedar.com).