Partners Real Estate Investment Trust

Partners Real Estate Investment Trust

November 26, 2013 20:00 ET

Partners Real Estate Investment Trust Announces Update on Unitholder Rights Plan

TORONTO, ONTARIO--(Marketwired - Nov. 26, 2013) - The trustees of Partners Real Estate Investment Trust (the "REIT", the "Trust" or "Partners REIT") (TSX:PAR.UN)(TSX:PAR.DB)(TSX:PAR.DB.A)(TSX:PAR.DB.B) announced that the Toronto Stock Exchange (the "TSX") has notified it that the TSX has, in accordance with its rules, determined to defer its consideration of the acceptance of the previously announced unitholder rights plan (the "Rights Plan") of the REIT until such time as the TSX has determined whether the appropriate securities commission will intervene pursuant to applicable securities laws.

Even though the TSX has deferred its acceptance of the Rights Plan, the Rights Plan remains in effect. As previously disclosed, the Board has the discretion to defer the time at which the rights become exercisable to a later date determined by the Board and to waive the application of the Rights Plan or redeem the rights if the Board determines it is in the best interests of the REIT to do so.

About Partners REIT

Partners REIT is a real estate investment trust which currently owns (directly or indirectly) 39 retail properties located in Ontario, Quebec, Manitoba, Alberta and British Columbia aggregating approximately 2.7 million square feet of leasable space. Partners REIT focuses on expanding and managing a portfolio of retail and mixed-use community and neighbourhood shopping centres located in both primary and secondary markets across Canada.

Neither the Toronto Stock Exchange nor Market Surveillance (as that term is defined in TSX Company Manual) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Partners Real Estate Investment Trust
    Patrick Miniutti
    Chief Executive Officer
    (250) 940-5500