De-classification of sponsor status permitted subject to unit-holding cap, manager independence, no fugitive offender, and unit-holder approval. De-classification of sponsor status permitted a sponsor of a listed REIT to relinquish sponsor designation after sustained listing, subject to conditions: ... Summary
De-classification of sponsor status permitted subject to unit-holding cap, manager independence, no fugitive offender, and unit-holder approval.
De-classification of sponsor status permitted a sponsor of a listed REIT to relinquish sponsor designation after sustained listing, subject to conditions: the sponsor and associates' combined unit holding below a prescribed cap; the manager not controlled by the sponsor or associates; the sponsor and associates not being fugitive economic offenders; and obtaining unit holder approval as prescribed.
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