Public Sector Pension Investment Board Completes Compulsory Acquisition of Retirement Residences Real Estate Investment Trust
Market Wire, February, 2007
Public Sector Pension Investment Board ("PSPIB") and Retirement Residences Real Estate Investment Trust ("Retirement REIT") (TSX: RRR.UN)(TSX: RRR.DB.B)(TSX: RRR.DB.C) announced today that PSPIB Destiny Inc. ("PSPIB Destiny"), a wholly-owned subsidiary of PSPIB, has acquired, pursuant to the compulsory acquisition provisions in Retirement REIT's declaration of trust, an additional 5,912,681 units of Retirement REIT, representing approximately an additional 6.3% of issued and outstanding Retirement REIT units that were not deposited under the offer made by PSPIB Destiny on October 23, 2006 to acquire all of the issued and outstanding units of Retirement REIT.
As a result, PSPIB Destiny now holds 93,445,745 units of Retirement REIT, representing 100% of the issued and outstanding units of Retirement REIT.
The units of Retirement REIT will be delisted from the Toronto Stock Exchange at the close of business on February 2, 2007.
About Retirement REIT
Retirement REIT is the largest provider of accommodation and care for seniors in Canada. Retirement REIT owns 224 retirement and long term care facilities, including 40 facilities in select United States markets, and provides management services to 8 homes for other parties, with an aggregate resident capacity in excess of 26,500. Retirement REIT also provides nursing placement and in-home health care through its Central Health Services unit. For further information, see the Retirement REIT website at www.retirementreit.com .
About PSPIB
PSPIB is a Canadian crown corporation established to manage employer and employee contributions made after April 1, 2000 to the Federal Public Service, the Canadian Forces and the Royal Canadian Mounted Police pension funds.
Contacts: Retirement Residences Real Estate Investment Trust Tim Benson Vice President, Investor Relations & Corporate Finance (289) 360-1224 Website: www.retirementreit.com Public Sector Pension Investment Board Anne-Marie Laurendeau Director, Communications and Government Relations (514) 937-2772 Email: amlaurendeau@investpsp.ca
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Content provided in partnership with
Most Recent Business Articles
- Samsung Mobile Highlights Mobile Innovation and Leadership at International CES 2010
- Qosmos Gains Momentum with Network Intelligence Technology
- Graphic.ly Debuts in Microsoft’s Keynote Address at Consumer Electronics Show
- Research and Markets: Construction Site Supplies Market in Russia: a Comprehensive Business Report
- Research and Markets: Overview of the Business & Enterprise Application Software and Services Market in Developed Asia-Pacific
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- Using object-oriented analysis and design over traditional structured analysis and design
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
