Early Warning News Release for Mitchell Goldhar, President and CEO of SmartCentres
EARLY WARNING NEWS RELEASE PURSUANT TO SECTION 102.1 OF THE SECURITIES ACT (ONTARIO) AND NATIONAL INSTRUMENT 62-103
TORONTO, May 7, 2013 /CNW/ - Further to disclosure requirements of applicable securities laws, Mitchell Goldhar announces that he has, since the last early warning report dated June 8, 2012, acquired, directly or indirectly through controlled affiliates, beneficial ownership of 2,780,230 special voting units ("Special Voting Units") of Retrocom Mid-Market Real Estate Investment Trust (the "REIT") pursuant to the terms of the Fourth Amended and Restated Declaration of Trust of the REIT whereby Mr. Goldhar has minimum voting entitlements in specified circumstances.
After giving effect to the acquisition of the foregoing Special Voting Units, Mr. Goldhar, directly or indirectly, has beneficial ownership of, or control over, 14,248,509 Special Voting Units representing approximately 100% of the outstanding Special Voting Units, which, together with Mr. Goldhar's beneficial ownership of, or control over 1,704,700 units, 9,110,269 limited partnership units of Retrocom Limited Partnership and warrants to purchase 1,500,000 units, represent an approximate 25% voting interest in the REIT (approximately 26.7% assuming exercise of the Warrants) over which Mr. Goldhar has ownership or control as of the date hereof.
The securities are being held by Mr. Goldhar for investment purposes. Other than transactions with the REIT contemplated from time to time, Mr. Goldhar has no present intention of acquiring any additional Special Voting Units, units or securities convertible or exchangeable into Special Voting Units, or units other than as described above. However, Mr. Goldhar reserves the right, depending on the circumstances, including market conditions, to make further purchases, or disposals, of Special Voting Units, units or securities convertible or exchangeable into units in the future.
This news release is being issued as required by National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
SOURCE: Mitchell Goldhar
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