TWC Enterprises Limited Increases Ownership Position in Automotive Properties REIT
GlobeNewswire - Mon Mar 8, 4:04PM CST
TWC Enterprises Limited ("TWC") today announced that, it has acquired beneficial ownership of, or control or direction over 819,600 trust units ("Units") of Automotive Properties Real Estate Investment Trust ("REIT") (TSX:APR-UN.TO), through the facilities of the Toronto Stock Exchange and alternative Canadian trading systems between November 19, 2020 and March 5, 2021 at a weighted average price of $10.83 per Unit. The Units acquired by TWC represent 2.17% of the issued and outstanding Units of the REIT (the "Acquisition").
Prior to the Acquisition, TWC beneficially owned, or had control or direction over 6,057,457 Units and K. Rai Sahi has 10,000 Units, together representing 16.10% of the issued and outstanding Units of REIT. Following the Acquisition, TWC and K. Rai Sahi have beneficial ownership of, or control or direction over, 6,887,057 Units of REIT, representing 18.27% of the issued and outstanding Units.
The Units were acquired for investment purposes. TWC and its affiliates may, from time to time, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over securities of REIT through market transactions, private agreements or otherwise.