TWC Enterprises Ltd. acquired beneficial ownership of or control or direction over 1,891,900 trust units of Automotive Properties Real Estate Investment Trust through the facilities of the Toronto Stock Exchange and alternative Canadian trading systems between Dec. 4, 2019, and Nov. 16, 2020, at a weighted average price of $11.05 per unit. The units acquired by TWC, together with joint actors, increased its ownership from 14.01 per cent to 16.10 per cent of the REIT's issued and outstanding units.
Prior to the acquisition, TWC beneficially owned or had control or direction over 4,175,557 units and K. Rai Sahi has 10,000 units, together representing 14.01 per cent of the issued and outstanding units of Automotive Properties. Following the acquisition, TWC and Mr. Sahi have beneficial ownership of or control or direction over 6,067,457 units of Automotive Properties, representing 16.10 per cent of the issued and outstanding units.