Welcome!

News Feed Item

Nobel REIT Announces Completion of 10:1 Unit Consolidation and August Distribution

MONTREAL, QUEBEC -- (Marketwired) -- 08/15/14 -- Nobel Real Estate Investment Trust (TSX VENTURE: NEL.UN) ("Nobel REIT" or the "REIT") announces that effective as of the opening on August 20, 2014 (the "Effective Date") the consolidated trust units of the REIT (the "Trust Units") will commence trading on the TSX Venture Exchange (the "Exchange"), on the basis of one (1) post-consolidation Trust Unit for every ten (10) pre-consolidation Trust Units held (the "Consolidation"). As part of the Consolidation, the issued and outstanding Class B limited partnership units (the "Class B LP Units" and together with the Trust Units, collectively, the "Units") of the REIT's majority owned subsidiary, Nobel REIT Limited Partnership ("Nobel LP"), will also be consolidated on the basis of one (1) post-consolidation Class B LP Unit for every ten (10) pre-consolidation Class B LP Units held.

Unitholder approval of the Consolidation is not required pursuant to the constating documents of either Nobel REIT or Nobel LP, but was voluntarily sought and obtained at the annual general and special meeting of the REIT's unitholders on June 26, 2014. The Consolidation was subsequently approved by directors' resolution on August 13, 2014.

The number of securities of the REIT currently outstanding prior to the Effective Date is 197,566,667 Trust Units, 3,600,000 special voting units, which are attached to the Class B LP Units (the "Special Voting Units"), 16,666,667 trust unit purchase warrants (the "Warrants"), and 1,210,000 options to acquire Trust Units (the "Options"). As of the Effective Date, the REIT will have approximately 19,756,667 Trust Units, 360,000 Special Voting Units, 1,666,667 Warrants, and 121,000 Options outstanding on a post-Consolidation basis.

The number of Class B LP Units currently outstanding prior to the Effective Date is 3,600,000 Class B LP Units. As of the Effective Date, Nobel LP will have approximately 360,000 Class B LP Units outstanding on a post-Consolidation basis.

The new CUSIP and ISIN numbers for the Trust Units and Class B LP Units are as follows:

--------------------------------------------------------------------------
Type of Security                                  CUSIP      ISIN
--------------------------------------------------------------------------
Trust Units subject to no resale restrictions     65489Y116  CA 65489Y1161
--------------------------------------------------------------------------
Trust Units subject to resale restrictions        65489Y306  CA 65489Y3068
--------------------------------------------------------------------------
Class B LP Units                                  654890128  CA 6548901280
--------------------------------------------------------------------------

A Letter of Transmittal with respect to the Consolidation will be mailed to the unitholders of the REIT and the Class B LP Unit holders of Nobel LP (collectively, the "Unitholders").

All Unitholders will be required to send their respective certificates representing the pre-Consolidation Units along with a properly completed Letter of Transmittal to the transfer agent of the REIT and Nobel LP, Computershare Investor Services Inc. ("Computershare"), in Toronto, Ontario, all in accordance with the instructions provided in the Letter of Transmittal. Additional copies of the Letter of Transmittal can be obtained through Computershare (Shareholder Services 1-800-564-6253 or by e-mail to [email protected]). All Unitholders who submit a duly completed Letter of Transmittal along with their respective pre-Consolidation Unit certificate(s) to Computershare, will receive either a post-Consolidation Unit certificate or Direct Registration System (DRS) Advice, as applicable.

August Distribution

Nobel REIT is also pleased to announce today a cash distribution of $0.000509 per trust unit of the REIT, on a post-consolidation basis, for the month of August 2014. The distribution will be payable on September 15, 2014 to unitholders of record as at August 29, 2014.

About Nobel REIT

Nobel REIT is an unincorporated open-ended real estate investment trust governed by the laws of the Province of Quebec. Nobel REIT has been created for the purpose of acquiring and owning income producing properties. The REIT will focus on acquiring commercial retail, mixed-used retail, and industrial and suburban office properties in the primary and secondary markets in the Province of Quebec.

Nobel REIT currently owns four properties located in Quebec, comprising 168,318 square feet of gross leasable area.

Disclaimer - Safe Harbour Forward-Looking Statements

Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Nobel REIT to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.

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.

Contacts:
Louis Lemire, CPA, CA
Chief Financial Officer
(450) 655-4338

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...
CloudEXPO | DXWorldEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
DXWorldEXPO LLC announced today that All in Mobile, a mobile app development company from Poland, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. All In Mobile is a mobile app development company from Poland. Since 2014, they maintain passion for developing mobile applications for enterprises and startups worldwide.
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
For far too long technology teams have lived in siloes. Not only physical siloes, but cultural siloes pushed by competing objectives. This includes informational siloes where business users require one set of data and tech teams require different data. DevOps intends to bridge these gaps to make tech driven operations more aligned and efficient.
The best way to leverage your CloudEXPO | DXWorldEXPO presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering CloudEXPO | DXWorldEXPO will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at CloudEXPO. Product announcements during our show provide your company with the most reach through our targeted audienc...
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world.
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution. In his session at @ThingsExpo, Akvelon expert and IoT industry leader Sergey Grebnov provided an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors!
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...
Dhiraj Sehgal works in Delphix's product and solution organization. His focus has been DevOps, DataOps, private cloud and datacenters customers, technologies and products. He has wealth of experience in cloud focused and virtualized technologies ranging from compute, networking to storage. He has spoken at Cloud Expo for last 3 years now in New York and Santa Clara.
HyperConvergence came to market with the objective of being simple, flexible and to help drive down operating expenses. It reduced the footprint by bundling the compute/storage/network into one box. This brought a new set of challenges as the HyperConverged vendors are very focused on their own proprietary building blocks. If you want to scale in a certain way, let's say you identified a need for more storage and want to add a device that is not sold by the HyperConverged vendor, forget about it...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...