Nov. 19, 2010 (Canada NewsWire Group) --
VANCOUVER, Nov. 19 /CNW/ - Pure Industrial Real Estate Trust ("PIRET") (TSXV: AAR.UN) is pleased to announce the release of its financial results for the three and nine months ended September 30, 2010.
Q3 2010 Financial Results
The Q3 2010 financial results consist of PIRET's unaudited interim financial statements for the three and nine months ended September 30, 2010, and Management's Discussion and Analysis ("MD&A") dated November 19, 2010, are available on SEDAR (www.sedar.com).
Darren Latoski, Acting CEO, and Steve Evans, Acting CFO for PIRET, will host a conference call at 4:30pm (EST), 1:30 pm (PST), on Monday, November 22nd, 2010, to review the financial results and corporate developments for the three and nine months ended September 30, 2010.
To participate in this conference call, please dial one of the following numbers approximately 10 minutes prior to the commencement of the call, and ask to join the PIRET Conference call.
Dial in numbers:
|Toll Free dial in number (from Canada and USA)………..1-866-212-4491|
|International or Local Toronto…………………………….1-416-800-1066|
Conference Call Replay:
If you cannot participate on November 22nd, a replay of the conference call will be available by dialing one of the following replay numbers. You will be able to dial in and listen to the conference 60 minutes after the meeting end time, and the replay will be available until November 29th, 2010.
Please enter the Replay ID# 3549725, followed by the # key.
|Replay Dial in number (Toll Free from Canada or the USA)..….…..1-866-583-1035|
PIRET today announced that its Board of Trustees has approved a cash distribution of $0.025 per trust unit for the period for the month of November 2010 (equivalent to $0.30 per trust unit on an annualized basis). This distribution will be paid on December 15th, 2010 to unitholders of record at the close of business on November 30, 2010.
The policy of Pure Industrial Real Estate Trust is to pay cash distributions on or about the 15th day of each month to the unitholders of record on the last business day of the preceding month.
Amendments to Trust Declaration
PIRET today announced that its Board of Trustees has approved amendments to PIRET's Trust Declaration in connection with its transition to International Financial Reporting Standards. The amendments remove the automatic year-end distribution to unitholders of net income and capital gains which was previously provided for in the Trust Declaration and add to the circumstances in which Trustees may pay distributions in whole or in part by issuing additional units to unitholders.
Amendments to Restricted Unit Plan
PIRET today announced that its Board of Trustees has approved amendments to PIRET's Restricted Unit Plan which provide as an additional means for payment to its Trustees in respect of their restricted units the ability to issue to Trustees from treasury one unit of the Trust for each vested restricted unit.
About Pure Industrial Real Estate Trust (PIRET)
PIRET is an unincorporated, open-ended investment trust established for the purposes of acquiring, owning and operating a diversified portfolio of income-producing industrial properties in primary markets across Canada. PIRET focuses exclusively on investing in industrial properties and is the only publicly traded vehicle in Canada that offers investors exclusive exposure to Canada's industrial asset class.
PIRET's units are listed on the TSX Venture Exchange under the symbol AAR.UN. PIRET has 27,141,263 units issued and outstanding.
For more information on PIRET, visit our website at www.piret.ca. or visit www.sedar.com.
TSX Venture Exchange - AAR.UN
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.
Andrew Greig, Director of Investor Relations
Steve Evans, Acting Chief Financial Officer
Darren Latoski, Acting Chief Executive Officer