HEY canadafan, your 2for1 is hereWebBroker Alert
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Whiterock REITAnnounces 2-for-1 Unit Split
cnw
TORONTO, Oct.28 /CNW/ - Whiterock Real Estate Investment Trust ("Whiterock") (TSX: WRK.UN)announced today that, pursuant to the terms of Whiterock's Declaration of Trust,which permits a subdivision or consolidation of the trust units from time totime by the Trustees, all of its issued and outstanding units will be subdividedon the basis of one (1) additional unit for each pre-subdivision unit held onthe record date of November 11, 2009 (the "Record Date"). After the subdivision,each unitholder will hold two (2) units for each pre-subdivision unit held as ofthe Record Date.
Within three business days following the RecordDate, Whiterock's registrar and transfer agent will mail to each unitholder ofrecord as of the Record Date, a unit certificate representing the additionalunits to which they are entitled as a result of the subdivision. There will beno change to the CUSIP number or ISIN number for the units, and the units willcontinue to trade on the Toronto Stock Exchange under the trading symbol"WRK.UN". It is currently anticipated that the subdivision will become effectiveon or about November 9, 2009.
"The decision to split our units comesas a result of our unit's strong price performance in 2009. Year to date, ourunits have approximately doubled in value and splitting our units shouldincrease liquidity," said Jason Underwood, Whiterock's Chief ExecutiveOfficer.
As at October 27, 2009 there were 4,768,506 trust unitsissued and outstanding that will be subdivided into approximately 9,537,012units upon completion of the unit subdivision. No action is required for unitsheld through brokers or other financial intermediaries. Notice of the adjustmentto the applicable conversion price will also be given to holders of Whiterock'ssecurities that are convertible into units.
AboutWhiterock
Whiterock's existing portfolio is anchored byhigh credit tenants with long-term leases. The portfolio consists of 44properties totalling 3.4 million square feet, located in 13 markets acrossCanada, including Calgary, Edmonton, Regina, Saskatoon, Toronto, Ottawa,Montreal and Quebec City. The current annualized yield of Whiterock's units isapproximately 12.5%, based on Whiterock's closing unit price on October 27, 2009and its most recently announced monthly distribution.