Moray Tawse

October 22, 2015 16:05 ET

Moray Tawse Partners REIT Early Warning Press Release

TORONTO, ONTARIO--(Marketwired - Oct. 22, 2015) - Moray Tawse has acquired 1,442,465 units ("Units") of Partners Real Estate Investment Trust (the "REIT"). The Units were issued by the REIT in connection with its previously announced rights offering (the "Rights Offering"), as described in the REIT's Rights Offering circular dated August 20, 2015. The Units were issued at a price of $3.10 per Unit for total consideration paid to the REIT by Mr. Tawse of $4,471,641.50.

Prior to the completion of the Rights Offering Mr. Tawse owned 3,595,333 Units, representing approximately 13.5% of issued and outstanding Units. After the completion of the Rights Offering Mr. Tawse owns 5,037,798 Units, representing approximately 15.1% of the issued and outstanding Units.

Mr. Tawse acquired the Units for investment purposes. Depending on market conditions, circumstances and other relevant factors, Mr. Tawse may, from time to time, increase or decrease his interest in the REIT.

This press release is being issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers which requires a report to be filed under the REIT's profile on SEDAR (www.sedar.com) containing additional information respecting the foregoing matters. A copy of such report may be obtained by contacting Moray Tawse at 100 University Avenue, Suite 700, North Tower, Toronto, Ontario M5J 1V6 and will be filed under the REIT's profile on SEDAR (www.sedar.com).

Moray Tawse

Mr. Tawse has over 30 years of experience in the real estate finance industry and sits on the boards of First National Financial Corporation and Regal Lifestyle Communities Inc., and is the Executive Vice President and Secretary of First National Financial Corporation.

Contact Information

  • Moray Tawse
    (416) 593-1100