Saturday, August 6 2022

FRÉDERICTON, NB, September 24, 2021 / CNW / – Plaza Retail REIT (“Plaza”) (TSX: PLZ.UN) announced today that it has received approval from the Toronto Stock Exchange (the “TSX”) to renew its public tender offer in the ordinary course of business (the “NCIB” or “Offer”) for an additional year. Pursuant to the renewed tender offer, Plaza may purchase up to 6,455,226 of its issued and outstanding trust units (the “Units”), representing approximately 10% of Plaza’s public free float as of September 14, 2021. As of that date, Plaza had 101,787,850 units issued and outstanding and a free float of 64,552,260 units.

Purchases under the Renewed Offer will be made through the facilities of the TSX and any other trading system in Canada. Subject to certain prescribed exemptions and any block purchases made in accordance with the rules of the TSX, daily purchases made by Plaza cannot exceed 20,461 Units, which represents 25% of the average daily trading volume of Units on the TSX for the semester period ended August 31, 2021 (i.e. 81,846 units).

The period of the renewed offer will begin on September 28, 2021 and will end on the earliest of the dates on which purchases under the offer are made and September 27, 2022. Plaza believes that Units may be available during the period of the Renewed Tender Offer at prices which would make the purchase of such Units in the best interests of Plaza and its Unitholders and is a desirable use of the securities. Plaza fund. All units purchased under the public tender offer will be canceled.

Plaza has also entered into a new Automatic Purchase Plan Agreement (the “Plan”) with its Designated Broker to facilitate purchases of Units under the Renewed Offer. The plan, which has been previously authorized by the TSX, allows for the purchase of Units by Plaza at times when purchases would not normally be permitted due to regulatory restrictions or self-imposed blackout periods. Purchases will be made by Plaza’s broker according to parameters prescribed by the TSX and the terms of the parties’ written agreement. The plan will end on September 27, 2022.

Under its current tender offer, which expires on September 27, 2021, Plaza has applied for and been granted approval to purchase up to 6,472,223 units. Plaza purchased 28,850 units for cancellation at a weighted average price of $ 3.9435 per unit, from September 14, 2021. Purchases were made on the open market through the facilities of the TSX and alternative trading systems in Canada.

Plaza is an open-ended real estate investment trust and is a leading owner and developer of retail real estate, focused on Ontario, Quebec and Atlantic Canada. Plaza’s portfolio at June 30, 2021 includes interests in 263 properties totaling approximately 8.6 million square feet Canada and additional land held for development. Plaza’s portfolio consists largely of outdoor centers and small stand-alone retail stores and is primarily occupied by national tenants. For more information, please visit

This press release contains forward-looking statements regarding Plaza, which can generally be identified by the use of forward-looking words such as “will”, “”, “, expressions or similar phrases that do not relate to historical facts. Forward-looking statements contained in this press release include, without limitation, those relating to future purchases of units by Plaza in connection with the renewed tender offer and its belief regarding the prices at which such units may be available. . Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Plaza’s actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied by the statements. forward-looking statements contained in this press release, including, but not limited to, general economic and market factors, duration and full impacts of the COVID-19 pandemic and others described in Plaza’s annual information form for the year ended December 31, 2020 and the management report for the period ended June 30, 2021, both of which are available on SEDAR at Forward-looking statements are based on a number of expectations and assumptions made in light of management’s experience and perceptions of historical trends and current conditions. Although the forward-looking statements contained in this press release are based on information currently available to management and what management believes to be reasonable expectations and assumptions, there can be no assurance that forward-looking statements will prove to be correct. Therefore, readers should not place undue reliance on forward-looking statements. All forward-looking statements speak only as of the date of this press release, and Plaza assumes no obligation to update such statements, except as required by law. These cautionary statements qualify all forward-looking statements contained in this press release.

SOURCE Plaza Retail REIT

For further information: Michael Zakuta, President and CEO, Plaza Retail REIT, Tel. : 514.457.7007; Jim Drake, CFO, Plaza Retail REIT, Tel. : 902.483.4064

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