Maplewood International REIT Announces Special Cash Distribution for 2020 Fiscal Year
March 23 2020 - 5:15PM
(TSXV: MWI.UN) Maplewood International Real Estate Investment Trust
(the “REIT”), announced today that as a result of the REIT’s
successful closing of the sale of its sole investment property in
the Netherlands, as announced in the press release dated March 20,
2020, the Board of Trustees has declared a special cash
distribution of $0.70 per unit (the “Special Distribution”), which
will be paid on or around April 8, 2020 (the “Payment Date”) to
unitholders of record on March 31, 2020 (the “Record Date”).
As the Special Distribution represents a
distribution greater than 25% of the value of the units of the REIT
(the “Units”), it is subject to the “Due Bill” trading requirements
of the TSX Venture Exchange (the “TSXV”). Accordingly, the TSXV has
required that the Units trade on a “Due Bill” basis from March 30,
2020, until the close of trading on the Payment Date (the “Due Bill
Period”). This means that sellers who sell Units during the Due
Bill Period shall also sell their entitlement to the Special
Distribution to the respective purchasers of such Units. The Units
will commence trading on an ex-distribution basis (i.e. without an
attached “Due Bill” entitlement to the Special Distribution) from
the opening of trading on April 9, 2020 (i.e. the next trading day
after the Payment Date). The Due Bills will be redeemed on April
10, 2020, once all trades with attached Due Bills entered during
the Due Bill Period have been settled.
It is expected that the REIT will no longer
continue to satisfy the continued listing requirements of the TSXV
subsequent to the payment of the Special Distribution. Accordingly,
listing of the Units may be transferred from the TSXV to NEX.
About Maplewood International
REIT
Maplewood International REIT is a Canadian based
growth-oriented international real estate investment trust,
established to invest in high-quality income producing commercial
real estate outside of Canada. The REIT’s geographic focus is on
the investment grade countries of Europe, with an initial target
market of the Netherlands.
Forward-Looking Information
This press release contains forward-looking
information within the meaning of applicable securities
legislation. Forward-looking information is based on a number of
assumptions and is subject to a number of risks and uncertainties,
many of which are beyond the REIT’s control that could cause actual
results to differ materially from those that are disclosed in or
implied by such forward-looking information. Our ability to
complete the Special Distribution is subject to a number of risks,
including those associated with Covid-19; global and local economic
and business conditions; and interest rate and currency rate
fluctuations. All forward-looking information in this press release
speaks as of the date of this press release. The REIT does not
undertake to update any such forward-looking information whether as
a result of new information, future events or otherwise. Additional
information about these assumptions and risks and uncertainties is
contained in the REIT’s filings with securities regulators, which
have been filed on SEDAR and can be viewed at www.sedar.com under
the REIT’s profile.
The TSXV has neither approved nor disapproved
the contents of this press release.
Neither the TSXV nor its Regulation Services
Provider (as that term is defined under the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
For additional information, please contact:
Kursat Kacira, Chief Executive OfficerTel: (647)
282-8324; E-mail: kkacira@maplewoodreit.com
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