Marwest Apartment REIT Announces Deferred Unit Grants to Satisfy Trustee Compensation
/ DO NOT DISTRIBUTE TO UNITED STATES NEWSWIRE SERVICES OR FOR BROADCAST USE IN UNITED STATES./
WINNIPEG, MB, September 30, 2021 / CNW / – Marwest Apartment Real Estate Investment Trust (“REIT Apartment Marwest ” or the “FPI”) (TSXV: MAR.UN) announces the issuance of Deferred Units of the REIT (“Deferred shares“) to certain of its trustees for the period of May 3, 2021 through September 30, 2021, effective today, in accordance with the REIT Incentive Plan adopted as of today April 30, 2021 (the “Incentive action plan“) and the REIT’s policy regarding the automatic settlement of the remuneration of the trustees in deferred units.
The remuneration payable to the trustees for the period indicated (with the exception of directors’ fees which were paid in cash) was paid entirely in deferred shares at a price of $ 1.10 by deferred share. Sir. Luke Cain, chairman, received 12,411 deferred shares, Mr. Jason pellaers, chairman of the audit committee, received 10,531 deferred shares, Mr. Cornelius Martens issued 6,770 deferred shares and Mr. James green, who has acted as trustee of the REIT for 25 August 2021, was issued 1,659 deferred shares, reflecting monetary compensation of $ 13,652.05, $ 11,583.56, 7,446.58 and $ 1,824.66, respectively, rounded to the nearest unit.
In accordance with the share-based incentive plan, each deferred unit is accompanied by a special unit with voting rights of the REIT.
About Marwest Apartment REIT
The REIT is an unincorporated open-ended trust governed by the laws of the Province of Manitoba. The REIT was formed to provide Unitholders with the opportunity to invest in the Canadian multi-family rental industry by owning high-quality income-producing properties, with an initial focus on stable markets throughout. of the Western Canada.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of TSXV) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE Marwest Apartment Real Estate Investment Trust
For more information: Please contact Mr. William Martens, Chief Executive Officer, Telephone: (204) 947-1200.