NorRock Realty Finance Corporation and Partners Real Estate Investment Trust remind NorRock Shareholders of changed NorRock s...
29 Dicembre 2011 - 7:54AM
PR Newswire (Canada)
Not for distribution to U.S. newswire services or for dissemination
in the United States. Any failure to comply with this
restriction may constitute a violation of U.S. securities laws.
TORONTO, Dec. 30, 2011 /CNW/ - NorRock Realty Finance Corporation
("NorRock") and Partners Real Estate Investment Trust ("Partners
REIT") jointly remind NorRock shareholders that the special meeting
being held to consider the previously announced proposed
transaction between NorRock and Partners REIT will take place at
10:00 a.m. on January 5, 2012 at the offices of Bennett Jones LLP,
100 King Street West, Suite 3400, Toronto, Ontario M5X 1A4. The
Unitholders of Partners REIT have previously authorized the
transaction. If they have not done so already, NorRock shareholders
who do not expect to attend the meeting in person are urged to
complete, sign, date and return the form of proxy forwarded to them
or send it by facsimile to NorRock's transfer agent, Computershare
Investor Services Inc., facsimile number: 1-866-249-7775 or
416-263-9524 as instructed on the form of proxy. The board of
directors of NorRock has determined to accept proxies for the
NorRock special meeting up until the time of the meeting or any
further adjournment or postponement thereof. If NorRock
shareholders approve the transactions at the January 5, 2012
NorRock meeting, NorRock will make an application on January 6,
2012 at 10:00 a.m. (Toronto time) for a Final Order (as defined in
the Circular which is described below) in respect of the
transaction at the Court, 330 University Avenue, Toronto Ontario.
NorRock shareholders and other interested parties desiring to
appear on, and make submissions at, the application for the Final
Order are referred to the Circular which describes the means by
which they may do so. If the Final Order is sought on January 6,
2012 the deadline for submitting notice of such desire is no later
than January 3, 2012. If the conditions to closing are satisfied,
including requisite shareholder and court approvals, the parties
expect that the closing of the transaction will take place on or
around late January 2012. Details of the matters being
considered at the NorRock special meeting are set out in a
joint management proxy circular (the "Circular") dated November 16,
2011 that has been mailed to all unitholders of Partners REIT and
shareholders of NorRock. A copy of the Circular is available
electronically at www.sedar.com. Forward-looking Statements
Certain statements included in this press release constitute
forward-looking statements, including, but not limited to, those
identified by the expressions "believe", "expect," "will",
"offers the opportunity", "intend, "look forward" and similar
expressions to the extent they relate to Partners REIT and NorRock.
The forward-looking statements are not historical facts but reflect
Partners REIT's and NorRock's current expectations regarding future
results or events. These forward looking statements are subject to
a number of risks and uncertainties that could cause actual results
or events to differ materially from current expectations, including
unitholder and shareholder approval of the proposed transaction and
the proposed consolidation of Partners REIT's units; our ability to
obtain court, regulatory, securityholder and other approvals in
connection with the proposed transaction between Partners REIT and
NorRock; the fulfillment of conditions precedent to closing the
transaction and the successful completion of the proposed
transaction between Partners REIT and NorRock; our expectations
regarding an increase in funds available to Partners REIT as
a result of the acquisition of the assets of NorRock, our
expectations regarding the retention or sale of the mortgages and
other assets acquired by Partners REIT in connection with the
transaction with NorRock; Partners REIT's status as a "real estate
investment trust" and the application of the SIFT Rules (as that
term is defined in the Circular); Partners REIT's intention to
continue to grow and diversify its portfolio; intended
acquisitions; and general economic and industry conditions.
Although Partners REIT and NorRock believe that the assumptions
inherent in the forward-looking statements are reasonable,
forward-looking statements are not guarantees of future performance
and, accordingly, readers are cautioned not to place undue reliance
on such statements due to the inherent uncertainty therein. The
forward-looking statements contained in this press release reflect
our current views with respect to future events and are also
subject to certain other risks and uncertainties and other risks
detailed from time-to-time in Partners REIT's and NorRock's ongoing
filings with the securities regulatory authorities, which filings
can be found at www.sedar.com. Actual results, events, and
performance may differ materially from those contemplated in
Partners REIT's forward-looking statements. Readers are cautioned
not to place undue reliance on these forward-looking statements.
Neither Partners REIT nor NorRock undertakes any obligation to
publicly update or revise any forward-looking statements either as
a result of new information, future events or otherwise, except as
required by applicable securities laws. Neither the 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.
Partners REIT CONTACT: Partners REIT:Patrick Miniutti, President
and Chief Operating Officer (250) 940-5500NorRock Realty Finance
Corporation: Jacqueline Boddaert, Chief Executive Officer (416)
479-9510 ext. 305
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