/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
WINNIPEG, MB, March 31,
2023 /CNW/ - Marwest Apartment Real Estate Investment
Trust ("Marwest Apartment REIT" or the "REIT") (TSXV:
MAR.UN) announces the issuance of deferred units of the REIT
("Deferred Units") to certain of its trustees for the period
January 1, 2023 through March 31, 2023, effective today, in accordance
with REIT's equity incentive plan adopted effective April 30, 2021, as amended, and the REIT's policy
regarding the automatic settlement of trustee compensation in
Deferred Units.
The compensation payable to the trustees for the period noted
(other than meeting fees which were paid in cash) was settled by
issuing approximately 50 percent of the total compensation in
Deferred Units at a price of $1.10
per Deferred Unit. Mr. Luke
Cain, Chair, was issued 4,483 Deferred Units, Mr.
Jason Pellaers, Chair of the Audit
Committee of the REIT, was issued 3,586 Deferred Units, Mr.
James Green, Chair of the
Governance, Compensation and Nominating Committee, was issued 3,362
Deferred Units, and Mr. Cornelius
Martens was issued 2,241 Deferred Units reflecting monetary
compensation of $4,931.30,
$3,944.60, $3,698.20, and $2,465.10, respectively, rounded to the nearest
unit. The balance of the compensation was paid in cash in the
amounts of $4,931.71, $3,945.81, $3,699.06 and $2,466.41 respectively.
The compensation for the period October
1, 2022 through December 31,
2022 (other than meeting fees which were paid in cash) was
settled by issuing approximately 50 percent of the total
compensation in Deferred Units at a price of $1.10 per Deferred Unit on December 31, 2022. Mr. Luke Cain, Chair, was issued 4,582 Deferred
Units, Mr. Jason Pellaers, Chair of
the Audit Committee of the REIT, was issued 3,666 Deferred Units,
Mr. James Green, Chair of the
Governance, Compensation and Nominating Committee, was issued 3,437
Deferred Units, and Mr. Cornelius
Martens was issued 2,291 Deferred Units reflecting monetary
compensation of $5,040.20,
$4,032.60, $3,780.70, and $2,520.10, respectively, rounded to the nearest
unit. The balance of the compensation was paid in cash in the
amounts of $5,041.99, $4,033.15, $3,780.94 and $2,521.00 respectively.
About Marwest Apartment
REIT
The REIT is an unincorporated open-ended trust governed by the
laws of the Province of Manitoba.
The REIT was formed to provide holders of trust units of the REIT
with the opportunity to invest in the Canadian multi-family rental
sector through the ownership of high-quality income-producing
properties, with an initial focus on stable markets throughout
Western Canada.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this news release.
SOURCE Marwest Apartment Real Estate Investment Trust