TORONTO, Jan. 6, 2022 /CNW/ - Primaris Real Estate Investment Trust ("Primaris" or "the REIT") (TSX: PMZ.UN) has announced its inaugural blackout period under its insider trading policy will commence on January 15, 2022 instead of January 1, 2022. The later commencement date is to allow for the ability of insiders to buy units of Primaris over the market during a time when the net asset value per unit (NAVPU) of Primaris is significantly higher than the trading price per Primaris unit. Insiders will only acquire units in accordance with applicable securities laws (including only if they do not possess any material undisclosed material information regarding the REIT). Primaris has been informed that Alex Avery, the REIT's Chief Executive Officer, Mr. Patrick Sullivan, the REIT's President and Chief Operating Officer, Rags Davloor, the REIT's Chief Financial Officer and certain trustees intend to buy Primaris units over the market during this time.
"As Primaris REIT begins its first year as a fully independent Canadian REIT, we are committed to fostering an ownership culture. Today's announcement supports that objective." said Alex Avery, Chief Executive Officer of Primaris REIT.
Primaris REIT also declared a distribution of $0.0667 per unit for the month of January, reflecting $0.80 per unit on an annualized basis. The distribution will be payable on February 15th to unitholders of record January 31st.