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 (DX) is not a "one-size-fits all" strategy. Each organization needs to develop its own unique, long-term DX plan. It must do so by realizing that we now live in a data-driven age, and that technologies such as Cloud Computing, Big Data, the IoT, Cognitive Computing, and Blockchain are only tools. In her general session at 21st Cloud Expo, Rebecca Wanta explained how the strategy must focus on DX and include a commitment from top management to create great IT jobs, monitor ...
"WineSOFT is a software company making proxy server software, which is widely used in the telecommunication industry or the content delivery networks or e-commerce," explained Jonathan Ahn, COO of WineSOFT, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
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...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that's no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, explored how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He expla...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
Sanjeev Sharma Joins June 5-7, 2018 @DevOpsSummit at @Cloud Expo New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...