TORONTO, May 15, 2015 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) ("NWH") and NorthWest International Healthcare Properties Real Estate Investment Trust (TSXV:MOB.UN) ("NWI") announced today the completion of the previously announced plan of arrangement under the Business Corporations Act (Alberta) pursuant to which NWI and NWH combined to create a leading global diversified healthcare real estate investment trust with over $2 billion of assets.
Pursuant to the terms of the transaction, NWH, among other things, acquired all of the assets of NWI and NWI unitholders received 0.208 of a NWH trust unit for each NWI trust unit held on a tax-deferred basis. In addition, all NWI convertible debentures were assumed by NWH, with the conversion prices being adjusted in accordance with their terms.
With the completion of the transaction, NWI's trust units and convertible debentures are expected to be delisted from the TSX Venture Exchange at the close of business on May 19, 2015.
Registered holders of NWI units are reminded that they must properly complete, sign and return the letter of transmittal, along with their unit certificate(s), to Computershare Investor Services Inc., as depositary, in order to receive the NWH units they are entitled to under the transaction. Holders of NWI units who hold their shares through a broker, investment dealer or other intermediary should carefully follow the instructions provided by such broker, investment dealer or other intermediary in order to receive the NWH units they are entitled to under the transaction.
Additional copies of the letter of transmittal may be requested from Computershare Investor Services Inc. by telephone at: 1-800-564-6253 or by email at: firstname.lastname@example.org.
About NorthWest Healthcare Properties Real Estate Investment Trust
NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT provides investors with access to a portfolio of high quality international healthcare real estate infrastructure comprised of interests in a diversified portfolio of 123 income-producing properties and 7.8 million square feet of gross leasable area located throughout major markets in Canada, Brazil, Germany, Australia and New Zealand. The REIT's portfolio of medical office buildings, clinics, and hospitals is characterized by long term indexed leases and stable occupancies. With a fully integrated and aligned senior management team, the REIT leverages over 180 professionals across 9 offices in 5 countries to serve as a long term real estate partner to leading healthcare operators.
Certain statements contained in this news release constitute forward-looking information within the meaning of applicable securities laws. In some cases, forward-looking information can be identified by such terms such as "may", "might", "will", "could", "should", "would", "occur", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue", "likely", "schedule", or the negative thereof or other similar expressions concerning matters that are not historical facts. Some of the specific forward-looking statements in this news release include, but are not limited to, statements with respect to the expected delisting of the NWI securities and other related matters.
NWH and NWI have based these forward-looking statements on factors and assumptions about future events and financial trends that it believes may affect its financial condition, financial performance, business strategy and financial needs.
Although the forward-looking statements contained in this news release are based upon assumptions that management of NWH and NWI believe are reasonable based on information currently available to management, there can be no assurance that actual results will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond NWH's and NWI's control, including, among other things, the risks identified each of NWH's and NWI's materials filed under their respective profiles at www.sedar.com from time to time. The forward-looking statements made in this news release relate only to events or information as of the date hereof. Except as required by applicable Canadian law, each of NWH and NWI undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Neither the Toronto Stock Exchange nor the TSX Venture Exchange accepts responsibility for the adequacy or accuracy of this release.
SOURCE NorthWest International Healthcare Properties REIT