TORONTO, Feb. 20, 2014 /CNW/ - FAM Real Estate Investment Trust (TSX:
F.UN) (TSX: F.WT) ("FAM REIT") announces today that in response to the
announcement by Huntingdon Capital Corp. ("Huntingdon") that it would
commence a strategic review, FAM REIT has appointed a special committee
comprised of its independent trustees and chaired by Gary Samuel, FAM
REIT's lead independent trustee. The committee's mandate is to
evaluate the impact on FAM REIT of the strategic review commenced by
Huntingdon and if advisable, to respond to such review.
While Huntingdon undertakes its strategic review, FAM REIT expects to
continue to carry on normal operations with Huntingdon acting as its
manager. Huntingdon has assured FAM REIT of its continued sponsorship
of FAM REIT and commitment to the management of FAM REIT during its
review.
FAM REIT understands that Huntingdon has an approximate 29% equity
interest in FAM REIT through the ownership of FAM REIT units and
exchangeable Class B LP units of a FAM REIT subsidiary. Huntingdon is
also the manager of FAM REIT and has granted to FAM REIT a right of
first offer on Huntingdon's industrial, office and retail properties
pursuant to a right of first offer agreement dated December 28, 2012.
About FAM Real Estate Investment Trust
FAM REIT is a diversified commercial real estate investment trust
focused on owning and acquiring strategically well-located office,
industrial and retail real estate located primarily across Canada's
large population centres.
Forward-Looking Information:
This press release contains forward-looking information within the
meaning of applicable securities legislation, including statements
regarding FAM REIT's financial position, which reflects FAM REIT's
current expectations regarding future events. Forward-looking
information is based on a number of assumptions and is subject to a.
number of risks and uncertainties, including capital market and
interest rate volatility, many of which are beyond FAM REIT's control,
that could cause actual results and events to differ materially from
those that are disclosed in.or implied by such forward-looking
information. These forward-looking statements are made as of the date
of this press release and, except as expressly required by applicable
law, FAM REIT assumes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
SOURCE FAM Real Estate Investment Trust
Gary Samuel
Chairman, Special Committee
(tel.): 416-250-5123
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