NEW YORK--(BUSINESS WIRE)--Accenture (NYSE: ACN) will host a virtual Investor & Analyst Conference on Thursday, April 7 from 8:30 a.m. EDT to 11:30 a.m. EDT. The event will feature remarks by Chair & CEO Julie Sweet, Chief Financial Officer KC McClure and other members of the leadership team, and will focus on Accenture’s strategy to deliver 360° value and to continue to lead in the market.
To join, please pre-register via the Investor Relations section of the Accenture website at investor.accenture.com. A replay of the conference and slides will be available on the company's website later in the day.
About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 699,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at accenture.com.
Contacts
Stacey Jones
Accenture
+1 917 452 6561
stacey.jones@accenture.com
NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
TORONTO--(BUSINESS WIRE)--$CIXX #CIGAM--CI Global Asset Management (CI GAM) announces the following estimated reinvested distributions (the “Estimated Reinvested Distributions”) in respect of the upcoming mergers of certain funds on or about April 8, 2022 (the “Termination Date”), which was first announced on November 29, 2021 in respect of the merger of CI Global Balanced Yield Private Pool and CI Global Balanced Yield Private Pool Class into CI Global Asset Allocation Private Pool and December 10, 2021 in respect of the rest of the funds listed below. In all cases, these Estimated Reinvested Distributions will be reinvested on or about April 8, 2022 to unitholders of record on April 7, 2022.
The Estimated Reinvested Distributions will not be paid in cash but will be reinvested and the resulting units immediately consolidated, so that the number of units held by each investor will not change.
|
Trading Symbol |
Estimated |
CI Active Utility & Infrastructure ETF |
FAI |
$0.0000 |
CI Active Credit ETF |
FAO |
$0.0000 |
FAO.U |
$0.0000 (US$) |
|
CI Active Canadian Dividend ETF |
FDV |
$0.2465 |
CI MSCI Canada Low Risk Weighted ETF |
RWC |
$0.5632 |
CI MSCI USA Low Risk Weighted ETF |
RWU |
$0.0000 |
RWU.B |
$0.0000 |
|
CI Global Infrastructure Private Pool (ETF Series) |
CINF |
$0.0000 |
CI Global Asset Allocation Private Pool (ETF Series) |
CGAA |
$0.0326 |
CI WisdomTree U.S. Quality Dividend Growth Index ETF |
DGR |
$0.8928 |
DGR.B |
$0.5617 |
|
CI WisdomTree Canada Quality Dividend Growth Index ETF |
DGRC |
$0.2700 |
About CI Global Asset Management
CI Global Asset Management is one of Canada’s largest investment management companies. It offers a wide range of investment products and services and is on the web at www.ci.com. CI Global Asset Management is a subsidiary of CI Financial Corp. (TSX: CIX, NYSE: CIXX), an integrated global asset and wealth management company with $370.2 billion in total assets as of February 28, 2022.
This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase exchange-traded funds (ETFs) managed by CI Global Asset Management and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor. Some conditions apply.
Commissions, management fees and expenses all may be associated with an investment in ETFs. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them. Please read the prospectus before investing. Important information about an exchange-traded fund (ETF) is contained in its prospectus. ETFs are not guaranteed; their values change frequently and past performance may not be repeated.
CI Global Asset Management is a registered business name of CI Investments Inc.
©CI Investments Inc. 2022. All rights reserved.
Contacts
Murray Oxby
Vice-President, Corporate Communications
CI Global Asset Management
416-681-3254
moxby@ci.com
BRISBANE, Australia--(BUSINESS WIRE)--$MAP--Microba Life Sciences Limited (ASX: MAP) (“Microba” or the “Company”) is an Australian-based commercial stage company with leading technology for measuring the human gut microbiome. The Company commences trading on the Australian Securities Exchange (ASX) at 10.30am (Sydney, Australia time) today following the completion of an initial public offering (IPO).
The IPO raised $30.0 million and was supported by institutional, professional and retail investors. Bell Potter Securities Limited and Canaccord Genuity (Australia) Limited were Joint Lead Managers and Underwriters to the IPO. Microba is a precision microbiome company with world-leading technology developed at the University of Queensland (UQ) by Microba’s founders, Professor Philip Hugenholtz and Professor Gene Tyson, who are recognised among the world’s most influential researchers of the past decade in this field.
The Company operates in the emerging US$4.89 billion gut microbiome sector. The world-leading technology developed by Microba is tapping into a growing body of research demonstrating that the gut microbiome plays a central role in health and disease that is driving demand for products and services to influence the gut microbiome and improve human health.
As a commercial-stage gut microbiome company, Microba provides microbiome testing services to healthcare practitioners and consumers (via distributors) powered by the Company’s world-leading gut microbiome Analysis Platform. From these services, the Company has built a proprietary microbiome Databank. Microba is applying proprietary methods and artificial intelligence to the Databank to identify and develop multiple therapeutic candidates to address major chronic diseases.
The Company is executing on its strategy via its three complementary business pillars:
• Microbiome Services – Microba is an established leader in microbiome testing with over 20,000 test reports sold to date. New major distribution partnerships including SYNLAB (EU), Genova Diagnostics (US), and G42 (Middle East) accelerate growth with multiple products scheduled for launch.
• Proprietary Databank – a large, unique, proprietary microbiome Databank comprising of over 1.2 million microbial genomes. Microba’s Databank has enabled the Company to identify novel therapeutic leads not identified by others.
• Microbiome Therapeutics – Microba leverages its growing Databank through a repeatable Therapeutics Platform to develop novel microbiome therapeutics. Microba has established multiple therapeutic programs, including for Inflammatory Bowel Disease with a Phase 1 clinical trial planned to commence in late 2022.
Ginkgo Bioworks¹ investment
NYSE listed synthetic biology company Ginkgo Bioworks1 (NYSE: DNA) invested USD $3.5m into Microba IPO, becoming a ~4% shareholder of the Company. Microba recently signed a therapeutic development agreement with Ginkgo Bioworks1 to address three autoimmune conditions. The Company’s strategy is to partner or license the Company’s therapeutic assets with large pharmaceutical companies early in clinical development in return for upfront, milestone and royalty payments. The Offer will enable Microba to accelerate the growth of its Services and Therapeutics business and further develop its platform technology.
Leadership
Microba is led by an experienced Board with microbiome expertise complemented by drug discovery experts. This includes Professor Ian Frazer, co-inventor of the technology enabling Gardasil – the leading vaccine currently used worldwide to help prevent cervical cancer. Professor Frazer is a clinician scientist, trained as a clinical immunologist, a Professor at the University of Queensland and is the current Chair of the Australian Federal Government’s Australian Medical Research Advisory Board.
Microba’s Chairman, Pasquale Rombola, commented: “We continue to build a world-leading human gut microbiome company, supported by partnerships and agreements with large, well-respected companies such as SYNLAB, Ginkgo Bioworks and Illumina. We have attracted these partners due to our world-leading technology, unique proprietary Databank and therapeutic assets.
“Our leading technology position and a growing number of international partnerships provides a strong platform for growth.
“We have received significant investor demand to continue building the premier global microbiome dataset and accelerating the discovery and development of new therapies. Microba will have a positive impact on human lives globally when we are successful in achieving our goals.”
This announcement has been authorised for release by the Board.
About Microba Life Sciences Limited
Microba Life Sciences is a precision microbiome company driven to improve human health. With world-leading technology for measuring the human gut microbiome, Microba is driving the discovery and development of novel therapeutics for major chronic diseases and delivering gut microbiome testing services globally to researchers, clinicians, and consumers. Through partnerships with leading organisations, Microba is powering the discovery of new relationships between the microbiome, health and disease for the development of new health solutions.
For more information visit: www.microba.com
Microba encourages all current investors to go paperless by registering their details with the designated registry service provider, automic group.
______________________________
1 Legal agreement between parties has been entered into by wholly owned subsidiaries of Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) and Microba Life Sciences Ltd respectively
Contacts
Dr Luke Reid
Chief Executive Officer
E: Luke.Reid@microba.com
Simon Hinsley
Investor / Media Relations
E: simon@nwrcommunications.com.au
T: +61 401 809 653
SINGAPORE--(BUSINESS WIRE)--Resolution Life Group Holdings L.P. (“Resolution Life”) is delighted to announce the formation of its new Representative Office in Singapore, following recent approval by the Monetary Authority of Singapore.
The formation of the Representative Office is the first step in Resolution Life’s plan to establish itself in Asia, with ambitions to grow its portfolio by supporting the primary life insurance industry. Resolution Life provides solutions to life insurers, allowing them to free up the capital, cost and time devoted to legacy, non-core portfolios, via both acquisitions and reinsurance.
The New Markets team establishing Resolution Life’s presence in Singapore include Kirstin Rankin, Asia COO and Chief Representative, who relocated to Singapore from London where she was Group General Counsel and Yan Sun, who has joined as Head of Solutions for the region. Rushabh Ranavat is leading Resolution’s overall expansion into the region as Managing Director, Asia.
The announcement of the Representative Office follows a successful second half of 2021 in which Resolution Life announced three transactions, with Allianz Suisse Life in Europe, and Allianz Life and Lincoln Financial Group in North America. In early 2022, the company announced the acquisition of AIA’s A$8bn Australian Superannuation & Investments business.
Across the Group’s combined US and Australasian businesses and its Bermudan reinsurance base, Resolution Life currently manages c.US$90bn of assets, employs over 1,800 people and provides services to approximately 3m policyholders.
Resolution Life and prior vehicles founded by Sir Clive Cowdery under the Resolution brand have pioneered the consolidation of life insurance assets since 2003 and have deployed $17 billion of equity across multiple transactions.
Sir Clive Cowdery, Resolution Founder and Executive Chairman of Resolution Life, commented:
“Resolution Life was launched to be a global solutions provider. We see a growing need to support the life industry in mature Asian markets as primary insurers adapt to how to serve their policyholders best under new regulatory regimes, new accounting standards, and continuing low interest rates. We see this as a core region for Resolution Life over the long term.”
Nardeep Sangha, CEO of Resolution Life New Markets, commented:
“Our global experience, regional strategic relationships and aligned business model provide a strong foundation for our Asian business. We look forward to building on this foundation in a manner tailored to the region, through partnerships with insurers, regulators and policyholders.”
----
ENDS
Notes to Editors:
About Resolution Life
Resolution Life is a global life insurance group focusing on the acquisition and management of portfolios of life insurance policies. Since 2003 to date, Resolution has deployed c.US$17bn of equity in the acquisition, reinsurance, consolidation and management of life insurance companies. Together, these companies have served the needs of c.13m policyholders while managing over US$365bn of assets. Resolution Life today has operations in Bermuda, the U.K., the U.S., Australia, New Zealand and Singapore, all focused on assisting the restructuring of the primary life insurance industry globally. Resolution Life provides a safe and reliable partner for insurers as they restructure by:
Contacts
Media Enquiries:
Temple Bar Advisory
Alex Child-Villiers +44 (0)7795 425 580
William Barker +44 (0)7827 960 151
email resolution@templebaradvisory.com
Business clients can get paid quicker and more securely by streamlining the invoicing process
LOS ANGELES--(BUSINESS WIRE)--Cathay Bank announced that it has expanded its online business solutions to offer payment and invoicing services through Autobooks.
Autobooks is an emerging leader in digital invoicing and payment acceptance and is a leading integrated-payments provider for small business banking. The integration of Autobooks’ invoicing and payment acceptance module into the Cathay Bank Online Business Banking platform can help small business owners better manage cash flow and keep track of their customers’ payment status. With just a few clicks, this innovative accounting tool helps create and send invoices, schedule recurring invoices, and receive online payments directly into their Cathay Bank account.
“When we opened our doors as a commercial bank 60 years ago, we made it our job to accompany our business clients on each step of their financial journey,” said Randy Browning, SVP, Director of Treasury Management Sales. “We understand the importance of cash flow management. By teaming up with Autobooks, we hope to make invoicing and payment acceptance more seamless for our business clients, so that they can get paid quicker.”
The service is available to Cathay Bank’s business clients at a very competitive fee. Learn more about how Cathay Bank can help business owners get paid faster with Autobooks, visit www.cathaybank.com/business.
About Cathay Bank
Cathay Bank, a subsidiary of Cathay General Bancorp (Nasdaq: CATY), opened its doors in 1962 in Los Angeles to serve the growing immigrant community. Today, we operate over 60 branches across the U.S., with a branch in Hong Kong, and representative offices in Beijing, Shanghai, and Taipei. In 2022, we proudly celebrate our diamond jubilee. While much has changed over six decades, our pursuit and dedication has only grown stronger. Then, now, and always, we go above and beyond, so you can, too. Learn more at cathaybank.com. FDIC insurance coverage limited to deposit accounts at Cathay Bank’s U.S. domestic branch locations.
Member FDIC
Contacts
Rex Hong
626-279-3250
NEW YORK--(BUSINESS WIRE)--#KBRA--KBRA assigns ratings to two classes of additional notes issued by Deerpath Newbury Partners LLC (Deerpath Newbury). KBRA is also affirming each of the original notes. The rating actions follow KBRA’s analysis which indicates that cash flows are sufficient to support the outstanding ratings following the issuance of the additional notes.
Deerpath Newbury is a delayed-draw cash flow collateralized loan obligation (CLO) managed by Deerpath Capital Management, LP and backed primarily by middle market senior secured loans. The transaction originally closed in December 2020 and had all ratings affirmed in December 2021. The additional issuance will increase the total transaction size from $73.0 million to $90.0 million.
The collateral in Deerpath Newbury currently consists of middle market leveraged loans issued by corporate obligors diversified across sectors. The obligors in the portfolio have a K-WARF of 3053, which represents a weighted average assessment of approximately B-. The total portfolio par amount is $72.8 million with exposure to 51 obligors. As of the most recent trustee report, the collateral quality matrix, collateral quality tests, concentration limitations, and coverage tests were passing. There were no defaulted or discount obligations reported.
Deerpath Capital Management, LP is a non-bank lending institution and middle market CLO collateral manager founded in 2007. Since 2009, Deerpath has deployed over $5.6 billion in capital across 630 investments. The management team has a strong track record and an investment strategy which focuses on originating low-levered first lien senior secured loans to sponsor-backed borrowers.
KBRA’s ratings on the Class A-1 and A-2 notes consider timely payment of interest and ultimate payment of principal by the applicable stated maturity date. KBRA’s ratings on the Class B-1 and B-2 notes consider ultimate payment of interest and principal by the applicable stated maturity date.
In performing the rating analysis, KBRA utilized its Structured Credit Global Rating Methodology, as well as its Global Structured Finance Counterparty Methodology and ESG Global Rating Methodology.
Click here to view the report. To access ratings and relevant documents, click here.
Disclosures
Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.
A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.
Information on the meaning of each rating category can be located here.
Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.
About KBRA
Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority pursuant to the Temporary Registration Regime. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.
Contacts
Analytical
Steven Zheng, CFA, Associate Director (Lead Analyst)
+1 (646) 731-3379
steven.zheng@kbra.com
Sean Malone, CFA, Managing Director
+1 (646) 731-2436
sean.malone@kbra.com
George Lyons, CFA, Managing Director
+1 (646) 731-3314
george.lyons@kbra.com
Eric Hudson, Senior Managing Director (Rating Committee Chair)
+1 (646) 731-3320
eric.hudson@kbra.com
Business Development
Jason Lilien, Senior Managing Director
+1 (646) 731-2442
jason.lilien@kbra.com
TORONTO--(BUSINESS WIRE)--Granite Real Estate Investment Trust (“Granite”) (TSX: GRT.UN / NYSE: GRP.U) expects to announce its financial results for the first quarter ended March 31, 2022 after the close of markets on Wednesday, May 11, 2022.
Granite will hold a conference call on Thursday, May 12, 2022 at 11:00 a.m. (ET). The toll-free number to use for this call is 1 (800) 897-4057. For international callers, please call 1 (416) 981-9014. Please dial in at least 10 minutes prior to the commencement of the call. The conference call will be chaired by Kevan Gorrie, President and Chief Executive Officer.
To hear a replay of the scheduled call, please dial 1 (800) 558-5253 (North America) or 1 (416) 626-4100 (international) and enter reservation number 22017097. The replay will be available until Monday, May 23, 2022.
ABOUT GRANITE
Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 134 investment properties representing approximately 55.9 million square feet of leasable area.
OTHER INFORMATION
Copies of financial data and other publicly filed documents about Granite are available through the internet on the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) which can be accessed at www.sedar.com and on the United States Securities and Exchange Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR) which can be accessed at www.sec.gov. For further information, please see our website at www.granitereit.com or contact Teresa Neto, Chief Financial Officer, at 647-925-7560 or Andrea Sanelli, Associate Director, Legal & Investor Services, at 647-925-7504.
Contacts
Teresa Neto, Chief Financial Officer
647-925-7560
or
Andrea Sanelli, Associate Director, Legal & Investor Services
647-925-7504
NEW YORK--(BUSINESS WIRE)--#KBRA--KBRA releases research on the recent episodes of nonbank financial institution (NBFI) payroll lending distress in Mexico. In KBRA’s view, these developments do not pose meaningfully heightened systemic risks to Mexico’s economy. However, they do highlight shortfalls in the country’s economic performance due to COVID and its associated policy response.
Two payroll lenders, Alpha Holding and Crédito Real, fell into debt distress in July 2021 and February 2022, respectively. While this situation involved sizable accounting issues, credit weaknesses in their targeted lending sector—employees in micro, small, and medium enterprises (MSME)—were exacerbated by the limited government support to the economy during the pandemic. Still, KBRA believes the limited size and scope of payroll lending in Mexico (KBRA sovereign rating of BBB/Negative Outlook) ultimately limits systemic risks.
Click here to view the report.
Related Publications
About KBRA
KBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.
Contacts
Contacts
Joan Feldbaum-Vidra, Senior Managing Director, Global Head of Sovereigns
+1 (646) 731-2362
joan.feldbaumvidra@kbra.com
Maria de Urquijo, Director
+1 (646) 731-3348
maria.deurquijo@kbra.com
Joe Scott, Senior Managing Director
+1 (646) 731-2438
joe.scott@kbra.com
Business Development Contact
Mauricio Noé, Co-Head of Europe
+44 208 148 1010
mauricio.noe@kbra.com
NEW YORK--(BUSINESS WIRE)--#KBRA--KBRA releases a recap of CRE Finance Council’s (CREFC) 14th annual High Yield, Distressed Assets & Servicing (HYDRA) Conference held in New York City on March 31.
In his opening remarks, Eric Thompson, Senior Managing Director and Global Head of Structured Finance Ratings at KBRA and CREFC Chair, pointed out that not only was the last HYDRA conference held two years ago shortly before pandemic lockdowns, but its return was marked by record attendance. The event, which had eight sponsors including KBRA, was the first HYDRA conference to be offered in hybrid format.
The full-day program included five sessions that included discussions on CRE sub-debt, distressed asset management, office dynamics, debt fund marketplace, and NYC’s outlook post-COVID.
Click here to view the recap.
Related Reports
About KBRA
KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.
Contacts
Larry Kay, Senior Director
+1 (646) 731-2452
larry.kay@kbra.com
Roy Chun, Senior Managing Director
+1 (646) 731-2376
roy.chun@kbra.com
Business Development Contact
Michele Patterson, Managing Director
+1 (646) 731-2397
michele.patterson@kbra.com
SALT LAKE CITY--(BUSINESS WIRE)--PROG Holdings, Inc. (NYSE:PRG), the fintech holding company for Progressive Leasing, Vive Financial, and Four Technologies, is scheduled to release financial results for the first quarter of 2022 on Wednesday, April 27, 2022, prior to market open.
The company has scheduled a live webcast and conference call for Wednesday, April 27, 2022, at 8:30 A.M. ET to discuss its financial results for the first quarter of 2022. To access the live webcast, visit the company’s investor relations website, https://investor.progholdings.com/. To join the conference call via telephone, dial 877-270-2148 and request to join the PROG Holdings, Inc. call. International participants without internet access can join the conference call by dialing 412-902-6510 and requesting to join the PROG Holdings, Inc. call.
The webcast will be archived for playback on the company’s investor relations website, https://investor.progholdings.com/, following the event.
About PROG Holdings, Inc.
PROG Holdings, Inc. (NYSE:PRG) is a fintech holding company headquartered in Salt Lake City, UT, that provides transparent and competitive payment options to consumers. The Company owns Progressive Leasing, a leading provider of e-commerce, app-based, and in-store point-of-sale lease-to-own solutions, Vive Financial, an omnichannel provider of second-look revolving credit products, and Four Technologies, provider of Buy Now, Pay Later payment options through its platform, Four. More information on PROG Holdings' companies can be found at https://www.progholdings.com.
Contacts
Investor Contact
John A. Baugh, CFA
VP, Investor Relations
john.baugh@progleasing.com
Media Contact
Mark Delcorps
Director, Corporate Communications
media@progleasing.com
GREENWICH, Conn.--(BUSINESS WIRE)--Strategic Capital, a privately-held alternative investment management platform, today announced that it is consolidating its various brands under the new StratCap name. Going forward, StratCap will encompass the firm’s core businesses – StratCap Securities (formerly “SC Distributors”), StratCap Investment Management (formerly “Strategic Capital Fund Management”) and StratCap Advisory Services (formerly “Strategic Capital Advisory Services”).
Founded in 2009, StratCap’s mission has been to source exceptional management teams - with differentiated investment strategies - to provide retail and institutional investors with access to high quality alternative investment opportunities. Since its inception, StratCap, along with its affiliated entities, has helped raise and deploy nearly $5 billion in investor equity across a wide variety of asset classes including digital infrastructure, renewable energy, impact investing, healthcare real estate and middle market corporate credit. Today, StratCap is focused on innovative digital economy investments with an emphasis on digital infrastructure, connectivity, sustainability, and technology-centric sectors.
“Our company has grown considerably over the past decade. We’ve significantly expanded our capabilities to include a proprietary asset management platform and exciting new institutional partnerships, as well as new product and distribution solutions,” stated Pat Miller, Managing Partner of StratCap. “We believe that organizing our core businesses around a clear and distinct StratCap brand will help position us for continued growth in the years ahead.”
About StratCap
Headquartered in Greenwich, CT and Newport Beach, CA, StratCap is a privately-held, global alternative investment management platform committed to providing access to dynamic asset classes and highly-experienced investment professionals in order to provide clients with attractive risk-adjusted returns. The company is focused on a wide range of digital economy investments with an emphasis on digital infrastructure, sustainability, and technology-centric sectors.
Contacts
Robert Bruce
Chief Marketing Officer
rbruce@stratcap.com
TORONTO--(BUSINESS WIRE)--Primaris Real Estate Investment Trust (“Primaris” or the “Trust”) (TSX: PMZ.UN) announced today that it has established an automatic securities purchase plan (“ASPP”) in respect of its previously announced normal course issuer bid (“NCIB”).
Under the terms of the NCIB, which commenced on March 9, 2022, Primaris is permitted to purchase for cancellation up to a maximum of 7,498,679 of its Series A units (“Units”) through the facilities of the TSX and Canadian alternative trading systems. Under the terms of the ASPP, the Trust’s broker will be permitted to purchase Units in accordance with certain prearranged trading parameters, during periods when Primaris would not ordinarily be active in the market because of internal trading blackout periods, insider trading rules or otherwise.
Since the commencement of the NCIB through the close of trading on March 31, 2022, the Trust has repurchased for cancellation an aggregate of 201,000 Units at a weighted average purchase price of $15.49 per Unit.
About Primaris
Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests primarily in dominant enclosed shopping centres in growing markets. The portfolio totals 11.5 million square feet and is valued at approximately $3.2 billion at Primaris’ share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape.
Forward-Looking Information
Certain statements included in this news release constitute ‘‘forward-looking information’’ or “forward-looking statements” within the meaning of applicable securities laws. The words “will”, “expects”, “plans”, "estimates", “intends” and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Specific forward-looking statements made or implied in this news release include but are not limited to statements regarding the Trust’s plans, objectives, expectations and intentions with respect to the purchase of Units under the NCIB.
These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. Primaris cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. Material risk factors and assumptions include those set out in Primaris’ management’s discussion and analysis and annual information form, which are available on SEDAR, and in Primaris’ other materials filed with the Canadian securities regulatory authorities from time to time. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. Other than as specifically required by law, Primaris undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise.
Contacts
Alex Avery
Chief Executive Officer
416-642-7837
aavery@primarisreit.com
Rags Davloor
Chief Financial Officer
416-645-3716
rdavloor@primarisreit.com
TSX: PMZ.UN
www.primarisreit.com www.sedar.com
Category: Corporate