TORONTO and MONTREAL, April 19,
2018 /CNW/ - Nexus Real Estate Investment Trust (the "REIT")
(TSXV: NXR.UN) announced today that it intends to release its
financial results for the first quarter ended March 31, 2018 before the opening of the TSX
Venture Exchange on Thursday May 31,
2018.
Management of the REIT will host a conference call at
1:00 PM Eastern Standard Time on
Thursday May 31, 2018 to review the financial results
and operations.
To participate in the conference call, please dial 416-915-3239
or 1-800-319-4610 (toll free in Canada and the US) at least five minutes prior
to the start time and ask to join the Nexus REIT conference
call.
A recording of the conference call will be available until
June 30, 2018. To access the
recording, please dial 604-674-8052 or 1-855-669-9658 (toll free in
Canada and the US) and enter
access code 2227.
April and May Distributions
The REIT announced today that it will make a cash distribution
in the amount of $0.01333 per unit,
representing $0.16 per unit on an
annualized basis, payable May 15, 2018 to unitholders of
record as of April 30, 2018.
The REIT will also make a cash distribution in the amount of
$0.01333 per unit, representing
$0.16 per unit on an annualized
basis, payable June 15, 2018 to
unitholders of record as of May 31,
2018
The REIT has adopted a distribution reinvestment plan
("DRIP") whereby residents of Canada may elect to have all or a portion of
the cash distributions of the REIT automatically reinvested in
additional units of the REIT. Eligible unitholders who so elect
will receive a bonus distribution of units equal to 4% of each
distribution that was reinvested by them under the DRIP.
Payment of trustee fees in units
The REIT also announced today that it has paid outstanding
retainer fees payable to independent trustees of the REIT in the
amount of $42,810, net of applicable
payroll withholding taxes of $10,315,
through the issuance of 21,657 units of the REIT ("Trust
Units") at an average price of $1.977 per Trust Unit. The Trust Units were
issued under the REIT's Non-Executive Trustee Unit Issuance
Plan.
The Trust Units are subject to a four-month hold period expiring
on August 20, 2018. The transaction
constitutes a related party transaction pursuant to Multilateral
Instrument 61-101 – Protection of Minority Security Holders in
Special Transactions ("MI 61-101"). The REIT is exempt from
the formal valuation and minority approval requirements of MI
61-101 in reliance on Section 5.5(b) and Section 5.7(a),
respectively.
About Nexus Real Estate Investment Trust
Nexus is a growth oriented real estate investment trust focused
on increasing unitholder value through the acquisition, ownership
and management of industrial, office and retail properties located
in primary and secondary markets in North
America. The REIT currently owns a portfolio of 62
properties comprising approximately 3.5 million square feet of
rentable area. The REIT has approximately 88,917,000 units issued
and outstanding and approximately 5,440,000 Class B LP units of
subsidiary limited partnerships of the REIT issued and
outstanding.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Nexus Real Estate Investment Trust