R&R REIT Issues Units to its Non-Executive Trustees and Deferred Units to an Executive Officer
December 20 2021 - 5:31PM
PR Newswire (Canada)
MISSISSAUGA, ON, Dec. 20, 2021 /CNW/ - R&R Real Estate
Investment Trust (TSXV: RRR.UN) (the "REIT") announces today that
it has issued 1,525,200 trust units to its non-executive trustees
at an average price of $0.05 per
trust unit in accordance with the REIT's Non-Executive Trustee
Issuance Plan, pursuant to which non-executive trustees can elect
to receive up to 100% of their base annual retainer and certain
other retainers in trust units. The number of trust units issuable
was calculated by reference to the weighted average of the trading
price for the trust units on the TSXV for the five trading days
immediately following the relevant fiscal quarter end. The trust
units that were issued are subject to a four month hold period.
The REIT also announces today that it has issued 382,290
deferred trust units to an executive officer at a price of
$0.05 per deferred trust unit in
accordance with the REIT's long-term incentive plan. One third of
the deferred trust units granted will vest annually on the
anniversary of the award date.
About R&R REIT
R&R REIT is an open-ended real estate investment trust
focused on increasing unitholder value through the acquisition and
ownership of hotel properties located in the United States.
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 R&R Real Estate Investment Trust
Copyright 2021 Canada NewsWire
R and R Real Estate Inve... (TSXV:RRR.UN)
Historical Stock Chart
From Jul 2024 to Aug 2024
R and R Real Estate Inve... (TSXV:RRR.UN)
Historical Stock Chart
From Aug 2023 to Aug 2024