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4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Agellan Commercial Real Estate Invtmt TR    ACR.U   CA00844Y1051

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Agellan Commercial Real Estate Investment Trust : Receives Unitholder Meeting Requisition

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09/20/2017 | 01:31pm CEST

TORONTO, Sept. 20, 2017 /CNW/ - Agellan Commercial Real Estate Investment Trust (the "REIT" or "Agellan") (TSX: ACR.UN) announced today that its board of trustees (the "Board") received a unitholder requisition on September 19, 2017 requesting that the REIT call a special meeting of the REIT's unitholders for the purpose of reconstituting the Board with five new trustees and seeking an advisory vote of unitholders in respect of the REIT's previously announced agreement to internalize management.

The unitholder making the requisition, Sandpiper Real Estate Fund Limited Partnership, has advised the REIT that it owns, directly or indirectly, 10% of the outstanding units of the REIT.

A special committee of the Board comprised of independent trustees is reviewing and considering the requisition with its professional advisors. It will respond appropriately in due course. In the meantime, there is no need for unitholders of the REIT to take any action.

About Agellan Commercial Real Estate Investment Trust

The REIT is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT has been created for the purpose of acquiring and owning industrial, office and retail properties in select target markets in the United States and Canada.

The REIT's 44 properties contain 7.0 million square feet of gross leasable area, with the REIT's ownership interest at 6.7 million square feet. The properties are located in major urban markets in the United States and Canada.

Additional information about the REIT is available at www.agellancommercialreit.com or www.sedar.com.

For more information please contact:

Agellan Commercial Real Estate Investment Trust
156 Front St W, Suite 303
Toronto, ON M5J 2L6
Tel: (416) 593-6800
Fax: (416) 593-6700
Email: [email protected]

Laurel Hill Advisory Group

Toll free in North America: 1-877-452-7184
Collect Outside North America: 416-304-0211
Email: [email protected]

SOURCE Agellan Commercial Real Estate Investment Trust

© Canada Newswire, source Canada Newswire English

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Financials ( CAD)
Sales 2017 102 M
EBIT 2017 -
Net income 2017 38,8 M
Debt 2017 395 M
Yield 2017 6,47%
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 7,71x
EV / Sales 2018 7,16x
Capitalization 394 M
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 12,4  CAD
Spread / Average Target 3,1%
Managers
NameTitle
Frank Camenzuli Chief Executive Officer & Non-Independent Trustee
Richard Dansereau Chairman
Daniel Millett Chief Financial Officer
Anthony Messina Independent Trustee
Glen Ladouceur Independent Trustee
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