Orange Capital acquires trust units of InnVest REIT
Orange Capital has acquired ownership and control over 711,300 trust units of InnVest Real Estate Investment Trust.
The acquired units represent approximately 0.76 per cent of the issued and outstanding trust units of InnVest REIT based on 93,809,805 units issued and outstanding as of 6 November 2013.
After giving effect to the acquisition of the acquired units, Orange Capital beneficially owns and controls 9,536,400 units, representing approximately 10.17 per cent of the outstanding REIT units.
Orange Capital acquired the acquired units through the open market for investment purposes.
Orange Capital is considering and evaluating various means to enhance unitholder value at InnVest REIT. On 26 January Orange Capital sent a letter to the board of trustees of InnVest REIT advising the board of Orange Capital's recent accumulation of units and inviting the board to engage in a dialogue with the goal of exploring ways to realise value for unitholders.
The acquired units were acquired through the facilities of the Toronto Stock Exchange at an average price of USD5.10 per unit. Orange Capital may acquire additional units through open market purchases or otherwise.
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