MM Asset Management Inc.

May 01, 2013 07:43 ET

MM Asset Management Inc. Acquires Control Over Units Of KEYreit

TORONTO, ONTARIO--(Marketwired - May 1, 2013) - MM Asset Management Inc. ("MMAM") announced that one fund it manages and advises, MMCAP International Inc. SPC ("MMCAP"), acquired 99,900 units ("Units") of KEYreit ("KEYreit") on April 17, 2013 through the facilities of the Toronto Stock Exchange (the "TSX"). A take-over bid for all of KEYreit's issued and outstanding Units was filed by Plazacorp Retail Properties Ltd. with the securities regulatory authorities on April 10, 2013. Following the acquisition of these 99,900 Units, MMCAP owned, in the aggregate, 756,800 Units, which represented, as at April 17, 2013, approximately 5.08% of KEYreit's 14,885,879 issued and outstanding Units, as reported by KEYreit in its Management Discussion and Analysis dated March 6, 2013.

Since April 17, 2013, MMAM on behalf of MMCAP acquired an additional 149,600 Units through the facilities of the TSX. In aggregate, MMAM on behalf of MMCAP has acquired 622,300 Units through the facilities of the TSX since April 10, 2013.

As at the date hereof, MMCAP beneficially owns and MMAM exercises control and direction over 906,400 Units, representing approximately 6.09% of KEYreit's issued and outstanding Units.

MMCAP has acquired such securities for investment purposes only. Depending on market conditions and other factors, MMCAP may from time to time acquire additional securities of KEYreit or dispose of such securities in the open market, by private agreement or otherwise.

Contact Information

  • MM Asset Management Inc.
    Matthew MacIsaac
    Secretary
    416.408.0997