Institutional placement pricing now based on two-week average closing prices, with limited discount subject to unitholder approval. The circular requires institutional placement pricing to be at least the average of the weekly high and low of closing prices of the same class of units during the two weeks preceding the relevant date, allows a limited discount subject to unitholder approval through the prescribed resolution, and defines the relevant date as the date of the board meeting when the board decides to open the issue; the amendment is effective immediately under the regulator's statutory and REIT regulatory powers.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Institutional placement pricing now based on two-week average closing prices, with limited discount subject to unitholder approval.
The circular requires institutional placement pricing to be at least the average of the weekly high and low of closing prices of the same class of units during the two weeks preceding the relevant date, allows a limited discount subject to unitholder approval through the prescribed resolution, and defines the relevant date as the date of the board meeting when the board decides to open the issue; the amendment is effective immediately under the regulator's statutory and REIT regulatory powers.
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