Toronto, Ontario--(Newsfile Corp. - August 29, 2025) - Sun Residential Real Estate Investment Trust (TSXV: SRES) ("Sun") announces today that the termination of Sun will take place at 11:59 p.m. (Toronto time) on September 19, 2025 (the "Termination Time").
Sun has been advised by the TSX Venture Exchange (the "TSXV") that the trust units of Sun will be delisted from the TSXV effective as of the close of business on September 19, 2025. Accordingly, Sun also announces that the register of its unitholders, containing the names and addresses of the registered unitholders of Sun and their respective unit holdings, shall close at the Termination Time.
As provided in further detail in the management information circular of Sun dated April 9, 2025 (the "Circular"), in connection with the activities required for winding-up of the business and affairs of Sun, Sun reminds all registered unitholders that they must surrender their units for cancellation at the Termination Time. As provided in the Circular and the accompanying letter of transmittal (the "Letter of Transmittal") sent to registered unitholders, in order for each unitholder to receive its pro rata interest in any remaining cash of Sun (after providing for all liabilities and obligations of Sun) (the "Second Distribution") for its units, each registered unitholder must complete and sign the Letter of Transmittal and deliver such Letter of Transmittal (or a manually executed facsimile thereof) together with the certificate(s) representing the units and the other documents required by the instructions set out therein to Computershare Investor Services Inc., in accordance with the instructions contained in the Letter of Transmittal.
The trustees of Sun have approved the Second Distribution of Cdn$0.00445 (0.445 Canadian cents) per unit to holders of trust units of record at the Termination Time and, subject to the above Letter of Transmittal requirement, payable in cash on September 19, 2025.
Since its formation in 2019, Sun has distributed 11.3 Canadian cents to unitholders.
Units of non-registered unitholders are registered in the name of Canadian Depository for Securities Limited ("CDS"), a clearing agency of which investment dealers or brokers are participants. Non-registered unitholders holding their units through an intermediary like an investment dealer or broker do not need to take any action to receive the Second Distribution. That action will be taken by CDS, as the registered unitholder.
About Sun Residential Real Estate Investment Trust
Sun Residential Real Estate Investment Trust is an unincorporated open-ended real estate investment trust established pursuant to a declaration of trust dated January 22, 2019, as amended and restated on March 22, 2019 and November 4, 2020. The business of Sun had been to acquire multi-family residential properties in the Sunbelt region of the United States.
Caution regarding forward-looking statements
Forward-looking statements in this news release, including, among others, statements associated with the anticipated distribution to unitholders and the expected per unit amount of the Second Distribution, reflect Sun's current assumptions, expectations, and projections. Often, but not always, forward-looking statements can be identified by words such as "planned," "expects," "expecting," "anticipated," or "believes," or variations of such words and phrases or state that certain actions, events, or results "may," "could," "would," "might," "should," or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Sun's actual results or achievements to be materially different from those expressed or implied by the forward-looking statements. The forward-looking statements made in this news release relate only to events or information as of the date hereof. All forward-looking statements are based on assumptions that may prove to be incorrect. Furthermore, forward-looking statements are qualified in their entirety by the inherent risks, uncertainties and changes in circumstances surrounding future expectations that are difficult to predict and mostly beyond the control of Sun.
Except as specifically required by Canadian securities law, Sun undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Many factors will cause actual results to differ, perhaps materially, from results in the forward-looking statements: for a description of such factors please refer to the Management's Discussion and Analysis for the quarter ended June 30, 2025, available at www.sedarplus.ca.
For further information, please contact:
Robert C. Wetenhall Jr.
Chief Executive Officer
rwetenhall@sunresreit.com
Jeffrey D. Sherman
Chief Financial Officer
jsherman@sunresreit.com
(416) 214-2228
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States or to or for the account or benefit of U.S. persons (as such terms are defined in Regulation S under the United States Securities Act of 1933, as amended (the "U.S. Securities Act")), absent registration or an exemption from registration. The securities offered have not been and will not be registered under the U.S. Securities Act or any state securities laws and, therefore, may not be offered for sale in the United States, except in transactions exempt from registration under the U.S. Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264485
SOURCE: Sun Residential Real Estate Investment Trust
