PUBLIC STORAGE CANADIAN PROPERTIES
TSX : PUB

PUBLIC STORAGE CANADIAN PROPERTIES

April 06, 2006 14:41 ET

Public Storage Canadian Properties Unitholders Approve Rights Offering

TORONTO--(CCNMatthews - Apr 6, 2006) -

David Singelyn, President of Canadian Mini-Warehouse Properties Limited, the general partner of Public Storage Canadian Properties (the "Partnership") (TSX: PUB), today announced that at an annual and special meeting of holders ("Unitholders") of units ("Units") of the Partnership, Unitholders approved the issuance of up to a maximum of 2,410,715 Units by way of a rights offering. The Partnership expects to file a final short form prospectus in connection with the rights offering shortly. The Unitholders also approved amendments relating to the provisions of the limited partnership agreement of the Partnership with respect to the limitations on debt financing, the allocation of net income and losses and the appointment of auditors. In addition, Unitholders other than B. Wayne Hughes and members of his family approved the acquisition of two development properties and one operating mini-warehouse property from entities controlled by B. Wayne Hughes.

Partnership Information

Public Storage Canadian Properties is a publicly held limited partnership that has invested in 19 mini-warehouse storage facilities, of which 13 are located in Ontario, 4 are located in British Columbia, 1 is located in Alberta and 1 is located in Quebec. In addition, the Partnership owns a parcel of land in British Columbia which is being developed into a mini-warehouse facility. More information about the Partnership is available on the Internet at www.publicstoragecanada.com.

Contact Information

  • Public Storage Canadian Properties
    Vincent Chan, 866-PS-CANADA / 866-772-2623