IPO

Nobel Real Estate Investment Trust completes syndication of its IPO

Nobel Real Estate Investment Trust has filed an amended and restated preliminary prospectus with the securities regulatory authorities in Québec, Ontario, Alberta and British-Columbia in connection with the syndication of its proposed public offering of 22,400,000 trust units at a price of CAD0.25 per unit for gross proceeds of approximately CAD5,600,000.

The syndicate of agents is being led by Desjardins Capital Markets and will include National Bank Financial and Scotia Capital.

The offering is expected to close on or about 7 February 2013 and is subject to regulatory approval. A large portion of the net proceeds of the offering will be used by Nobel Reit to acquire two commercial real estate properties located at 1185-1195 Chemin du Tremblay, Longueuil, Québec and 1190 Place Nobel, Boucherville, Québec.

In connection with the offering, Nobel Reit will pay the agents a cash commission in an amount equal to seven per cent of the gross proceeds of the offering and a number of broker warrants equal to five per cent of the units sold pursuant to the offering will be issued to the agents. Nobel Reit has also granted the agents an over-allotment option to purchase up to an additional 3,360,000 units on the same terms and conditions, exercisable at any time, in whole or in part, up to the date that is 30 days from the date of closing of the offering.

A special meeting of the shareholders of Capital Nobel, a capital pool company, was held on 11 January. At the meeting, all resolutions were passed in connection with the previously announced proposed plan of arrangement under the Canada Business Corporations Act between the corporation, Nobel Reit and Nobel Reit Limited Partnership including: (i) the approval of the arrangement and the acquisition; (ii) the approval of a unit option plan for Nobel Reit; and (iii) the approval of a unitholders' rights plan for Nobel Reit.

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