Summit Industrial Income REIT - Announcement of Unitholder Approval
of Unit Consolidation
HALIFAX,
Jan. 16, 2013 /CNW/ - Summit
Industrial Income REIT (the "REIT") announced today that its
unitholders have approved the previously disclosed proposed
consolidation of all of its outstanding units on the basis of a
consolidation ratio of one post-consolidation unit for 12
pre-consolidation units (with the number of pre-consolidation units
being a whole number of units). The consolidation was approved by a
special meeting of unitholders held today. Following the
consolidation, which the REIT expects to be effective shortly after
receiving approval and acceptance by the TSX Venture Exchange, the
number of outstanding units will be reduced from 82,717,645 as of
December 21, 2012 to approximately
6,893,137 units.
About Summit II
Summit Industrial Income REIT is an open‐ended mutual fund
trust focused on growing and managing a portfolio of light
industrial properties across Canada. Summit II's units are listed on the
TSX Venture Exchange and trade under the symbol SMU.UN.
Caution Regarding Forward Looking
Information
This news release contains forward-looking statements and
forward-looking information within the meaning of applicable
securities laws. The use of any of the words "expect",
"anticipate", "continue", "estimate", "objective", "ongoing",
"may", "will", "project", "should", "believe", "plans", "intends",
"goal" and similar expressions are intended to identify
forward-looking information or statements. More particularly and
without limitation, this news release contains forward looking
statements and information concerning the proposed consolidation.
The forward-looking statements and information are based on certain
key expectations and assumptions made by Summit II, including
obtaining unitholder approval of the proposed consolidation.
Although Summit II believes that the expectations and assumptions
on which such forward-looking statements and information are based
are reasonable, undue reliance should not be placed on the forward
looking statements and information because Summit II can give no
assurance that they will prove to be correct. By its nature, such
forward-looking information is subject to various risks and
uncertainties, which could cause the actual results and
expectations to differ materially from the anticipated results or
expectations expressed. These risks and uncertainties include, but
are not limited to, tenant risks, current economic environment,
environmental matters, general insured and uninsured risks and
Summit II being unable to obtain any required financing and
approvals. Readers are cautioned not to place undue reliance on
this forward-looking information, which is given as of the date
hereof, and to not use such forward looking information for
anything other than its intended purpose. Summit II undertake no
obligation to update publicly or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Summit Industrial Income REIT