MISSISSAUGA, ON, Feb. 4, 2021 /CNW/ – Morguard Real Estate Investment Trust (TSX: MRT.UN) (“Trust”) announced today that the Toronto Stock Exchange has accepted its notice of intention to make a normal course issuer bid through the facilities of the TSX and/or alternative Canadian trading systems.
The notice provides that the Trust may, during the twelve month period commencing February 7, 2021 and ending February 6, 2022, purchase for cancellation up to 3,206,260 units (“Units) in total, being approximately 5% of the outstanding Units. The daily repurchase restriction for the Units is 25,297. Additionally, the Trust may, during the twelve month period commencing February 7, 2021 and ending February 6, 2022, purchase for cancellation up to $11,494,500 principal amount of the 4.50% Convertible Unsecured Subordinated Debentures due December 31, 2021 (TSX:MRT.DB) (“Debentures”), being 10% of the public float of outstanding Debentures. The daily repurchase restriction for the Debentures is $19,475.
The price which the Trust will pay for any such Units or Debentures will be the market price at the time of acquisition. The actual number of Units and Debentures which may be purchased and the timing of any such purchases will be subject to compliance with the TSX guidelines.
Under its current normal course issuer bid due to expire February 6, 2021, the Trust was approved to purchase up to 3,036,776 Units and $11,495,500 principal amount of Debentures. 197,300 Units and no Debentures were purchased for cancellation during the last twelve months through the facilities of the TSX and/or alternative Canadian trading systems. As of January 29, 2021, there were 64,125,215 Units of the Trust outstanding with an average daily trading volume for the prior six months of 101,189. Additionally, as of January 29, 2021 there were $175,000,000 principal amount Debentures of the Trust outstanding with an average daily trading volume for the prior six months of $77,900.
The Trust believes that its Units and Debentures, at times, trade in a price range which does not adequately reflect the value of such Units and Debentures in relation to the business of the Trust and its future business prospects. As a result, depending upon future price movements and other factors, the Trust believes that its outstanding Units and Debentures may represent an attractive investment for itself. Furthermore, the purchases may benefit all persons who continue to hold Units by increasing their equity interest in the Trust. All Units and Debentures purchased by the Trust under the normal course issuer bid will be cancelled.
About Morguard Real Estate Investment Trust
The Trust is a closed-end real estate investment trust, which owns a diversified portfolio of 47 high quality retail, office and industrial income producing properties in Canada consisting of approximately 8.3 million square feet of leaseable space.
For more information, please visit Morguard.com.
SOURCE Morguard Real Estate Investment Trust
For further information: Morguard Real Estate Investment Trust, Andrew Tamlin, Chief Financial Officer, T: 905.281.4800
LONDON — Britain must pay for increased support to households in a way that does not deter investment, Cabinet Office minister Steve Barclay said on Thursday ahead of an expected announcement of new measures to cope with rising energy bills.
Facing intense political pressure to provide more support for billpayers coping with what opponents and campaigners have called a cost-of-living crisis, finance minister Rishi Sunak will give a statement to parliament setting out details of the government’s response.
“In terms of paying for that, as we look at the balance between how much is done through debt, and how much is done through revenue raising, we need to do that in a way that doesn’t deter investment,” Barclay told Sky News.
Sunak’s announcement is expected to include a 10 billion pound ($12.6 billion) package of support, an energy industry source said, funded in part by a windfall tax on oil and gas producers companies.
Barclay said the government had decided to act after an announcement by the energy regulator earlier this week that a cap on gas and electricity bills was set to rise by another 40% in October.
“What we do recognize … is the government needs to have targeted support, particularly for those most affected by those higher bills,” Barclay told the BBC.
Global gas prices soared last year when the reopening of world economies from pandemic lockdowns caused demand to return sharply and supply could not keep up. The war in Ukraine has pushed up prices further in 2022.
The government has previously said it is opposed to a windfall tax on energy suppliers because it would deter them from investing in new energy projects.
But that position has shifted as political pressure for action has mounted, with the highest inflation among G7 nations and rising bills pushing many household budgets to the limit.
Prime Minister Boris Johnson is also keen to move the conversation away from a damning report detailing a series of illegal lockdown parties at his Downing Street office.
The opposition Labour Party has campaigned for a windfall tax on oil and gas companies to raise around 2 billion pounds ($2.5 billion), with opinion polls showing public support for such a move.
Asked about a windfall tax, Barclay said he disagreed with the Labour proposal, but declined to give any further details of the government’s new plan, saying it was for Sunak to set out the package to parliament later.
Sunak is expected to speak around 1115 GMT.
Inflation reached a 40-year peak of 9% in April and is projected to rise further, while government forecasts last month showed living standards were set to see their biggest fall since records began in the late 1950s.
In February, the government announced a 9 billion pound support package, including a targeted tax rebate worth 150 pounds per year for 80% of households in England and a 200 pound discount on electricity bills, repayable over five years.
Media reports said that discount could be increased in Sunak’s package, and the need to repay it dropped.
The Institute for Fiscal Studies (IFS) economic think tank said any support needed to be aimed at the poorest households, warning that a universal giveaway, including for those who did not need the extra cash, could fuel inflation.
“We do need to be careful,” IFS director Paul Johnson told BBC radio. “Putting … tens of billions into the economy at a time of high inflation could stoke additional demand and make the inflation much more permanent.” ($1 = 0.7963 pounds) (Reporting by Muvija M, writing by William James, editing by Hugh Lawson and Frank Jack Daniel)
Julien Roman is a specialist in the field of personal investment. Over the years, he has helped countless people grow their wealth and reach their financial goals. His experience in crafting investment and risk management strategies is second to none, and he has the track record to back it up. From short-term investments to long-term opportunities, Julien provides unique strategies that suit the needs and goals of his followers. But where did it all begin for Julien? Here’s his story.
Julien’s interest in investment started at a young age. When he was just a teenager, he invested his own money in the stock market. He quickly learned about the ins and outs of the market and made a name for himself as a successful investor. Since then, Julien has continued to grow his knowledge of the investment world, and he now shares his expertise with others through his YouTube channel.
With more than 215,000 subscribers, Julien’s channel is one of the most popular investment-focused channels on YouTube. On this platform, Julien provides analysis of potential investments, discusses current events in the world of finance, and offers tips and advice for those looking to increase their ROI successfully.
Becoming an investment specialist
Julien became an investment specialist by reading books, watching tutorial videos, and following the news. He is now responsible for providing analysis of potential investments and advising clients on how to grow their portfolios best. In his role, Julien often meets with senior executives from companies to better understand their business strategies and financial goals. He then uses this information to recommend which investments will be most beneficial for his clients. Julien has been successful in his career thus far, and he plans to continue to help his clients achieve their financial goals in the future.
Working as a personal investment consultant
His stint as a personal investment consultant started years ago. Equipped with unparalleled experience, he has already managed to help individuals and families save for their future. He provides customized investment plans based on each client’s unique goals and circumstances, and he takes pride in helping his clients grow their wealth over time. Julien has worked with clients of all ages and levels of experience, and he feels passionate about helping everyone make money. Julien enjoys spending time with his wife and young children in his free time. He is also an avid traveler and enjoys exploring new places.
Julien Roman offers some valuable tips to get you started on the right track. First, he emphasizes the importance of setting realistic goals. It’s essential to have a clear idea of what you want to achieve financially, whether saving for retirement or buying a new home. He also recommends creating a budget and sticking to it. This will help you keep track of your spending and ensure that you’re putting your money towards your goals.
The personal investment specialist recommends investing in yourself by learning about financial planning. By educating yourself about personal finance, you’ll be better equipped to make intelligent decisions with your money and grow your wealth over time.
Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times. Hindustan Times does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same.
TORONTO, May 25, 2022 (GLOBE NEWSWIRE) — Westboro Mortgage Investment Fund has paid a bonus distribution of $0.065 per eligible Class F unit. The bonus distribution equals the excess income earned by the fund for the fiscal year ended December 31, 2021. The total distribution per unit for the 2021 fiscal year, inclusive of this bonus distribution, was $0.65/unit on a monthly basis, or an annualized return of 6.7%, on a monthly compounded basis. The strong performance of the Westboro Mortgage Investment Fund is a direct result of the following: a) long standing and strong broker client relationships b) best in class staff; and c) conservative and thorough underwriting practices.
“It was a record breaking year filled with a unique set of challenges posed by the pandemic. We will continue to be conservative in our underwriting and portfolio management while being competitive on interest rates and terms offered to our longstanding broker client network. In 2021 and early in 2022 we were fortunate to attract top industry talent to join our already dynamic team. We want to fund the best mortgages, not the most mortgages. Our focus is, and always will be, the preservation of investor capital and providing consistent risk adjusted returns to our mortgage fund investors,” said Nick Christopoulos, CEO of Westboro Mortgage Investment Fund.
About Westboro Mortgage Investment Fund
Westboro Mortgage Investment Fund was established in 2004 as a Mortgage Investment Corporation in the Ottawa region. Throughout the years, the fund has strategically expanded its lending region to include Central and Southwestern Ontario and the Gatineau regional area of Quebec. Today, the fund manages assets in excess of $300 million all while maintaining the primary objective of providing investors with a consistent and stable fixed income solution for their investment portfolio.
To learn more about the Westboro Mortgage Investment Fund, including investment opportunities and qualification criteria please visit www.westboromic.com or contact the Vice President of Fund Sales, Scott Roberts at firstname.lastname@example.org.
Privacy & Cookies Policy
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.