Source: CT REIT
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  • CT Real Estate Investment Trust (CRT.UN) has received TSX acceptance to proceed with a normal course issuer bid
  • CT REIT may purchase up to 3,300,000 CT REIT trust units between November 29, 2022, and November 28, 2023
  • Daily purchases will be limited to 33,607 units
  • The NCIB will allow CT REIT to support unitholder value
  • CT Real Estate Investment Trust is an unincorporated real estate investment trust that invests in retail properties across Canada
  • CT Real Estate Investment Trust (CRT.UN) opened trading at C$15.69

CT Real Estate Investment Trust (CRT.UN) announced that the TSX has accepted CT REIT’s notice to proceed with a normal course issuer bid.

Under the bid, CT REIT may purchase up to 3,300,000 CT REIT trust units between November 29, 2022, and November 28, 2023.

Daily purchases will be limited to 33,607 units, other than purchases made under block purchase exemptions.

CT REIT may also purchase units through private agreements.

CT REIT will not be obligated to acquire any units under the NCIB, and CT REIT may elect to suspend or discontinue its NCIB at any time.

Units purchased under the NCIB will be cancelled.

CT REIT believes that the NCIB is an attractive and appropriate use of corporate funds. The NCIB will provide CT REIT with an incremental capital allocation tool that will allow it to take action to support unitholder value.

CT REIT has not previously conducted an NCIB.

The company may enter into an automatic purchase plan with its broker.

CT Real Estate Investment Trust is an unincorporated real estate investment trust that invests in retail properties across Canada. Most of its properties are located in Ontario, followed by Quebec and Western Canada.

CT Real Estate Investment Trust (CRT.UN) opened trading at C$15.69.

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