Temple REIT has announced that the REIT and its affiliated entities, TR Trust, Temple Limited Partnership and Temple General Partner Inc., as well as a newly incorporated corporation named “Temple Hotels Inc.” have agreed to the proposed conversion of the REIT from a trust to a corporation pursuant to a statutory plan of arrangement under the Canada Business Corporations Act (CBCA). The conversion will be presented to unitholders of the REIT for approval at a special meeting of at a date and time to be determined. If approved, the conversion will result in the reorganization of the REIT into a new corporation called Temple Hotels Inc.
Full details of the proposed Conversion will be contained in a management information circular anticipated to be mailed to unitholders in October, 2012 in connection with the Meeting.