TORONTO and MONTREAL, July 12, 2019
TORONTO and MONTREAL, July 12, 2019 /CNW/ - Nexus Real Estate Investment Trust (the "REIT") (TSXV: NXR.UN) announced today that it intends to release its financial results for the quarter ended June 30, 2019 before the opening of the TSX Venture Exchange on Friday August 16, 2019.
Management of the REIT will host a conference call at 1:00 PM Eastern Standard Time on Friday August 16, 2019 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 September 16, 2019. 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 3460.
The REIT has granted an aggregate of 117,080 restricted units ("RSUs") to the Chief Executive Officer and the Chief Financial Officer of the REIT under it's Incentive Unit Plan, and an aggregate of 13,268 RSUs to other employees in respect of 2018 service as further described in the Circular dated April 23, 2019.
These RSUs will vest one-third on the date of issuance, one-third on February 28, 2020 and one-third on February 28, 2021 and are priced at 1.986725 per unit, the volume-weighted average trading price of units of the REIT for the 5 trading days prior to the grant date.
The REIT is authorized to issue up to 4,448,704 units under the Incentive Unit Plan. Prior to the date hereof, no units were issued under the plan.
The REIT also announced that Mr. Mario Forgione has resigned from the Board of Trustees. The REIT thanks Mr. Forgione for his contributions to the REIT's success. The REIT's Board of Trustees will contemplate whether to fill this vacated board seat prior to the REIT's next annual general meeting but has full confidence that the Board will continue to function effectively with its remaining five trustees, four of which are independent trustees.
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 70 properties comprising approximately 3.8 million square feet of rentable area. The REIT has approximately 101,610,000 units issued and outstanding. Additionally, there are Class B LP units of subsidiary limited partnerships of Nexus REIT issued and outstanding, which are convertible into approximately 18,236,000 REIT units.
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
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Kelly C. Hanczyk, President and CEO at (416) 906-2379; or Rob Chiasson, CFO at (416) 613-1262Copyright CNW Group 2019