Confidence CNW Group
NorthWest Healthcare Properties REIT (TSX:NWH) (the "REIT") announced today that it has been advised by Paul Dalla Lana, the Chairman and CEO of the REIT, that he has indirectly acquired beneficial ownership of 70,100 additional trust units of the REIT and $10.5 million aggregate principal amount of 5.50% convertible unsecured subordinated debentures of the REIT.
After giving effect to the acquisition of trust units described above, Paul Dalla Lana has indirect beneficial ownership and control over 7,363,830 trust units and 17,708,065 special voting units, which represents approximately 20.67% of the REIT's issued and outstanding voting units.
Paul Dalla Lana also advised the REIT today of his intention to enter into an automatic securities purchase plan ("ASPP") to facilitate the purchase of up to 5% of the REIT's outstanding trust units (including those described above) based upon predetermined criteria on an automatic basis regardless of whether he may, subsequent to adopting the plan, receive material non-public information.