Exciting News for Melcor Real Estate Investment Trust and Melcor Developments Ltd.

Amended Agreement with Improved Consideration

EDMONTON, Alberta, Nov. 25, 2024 (GLOBE NEWSWIRE) — Melcor Real Estate Investment Trust (“Melcor REIT” or the “REIT”) (TSX: MR.UN) and Melcor Developments Ltd. (“Melcor” or the “Purchaser”) (TSX: MRD) are pleased to announce that they have entered into an Amended and Restated Arrangement Agreement (the “Amended Agreement”) with Melcor REIT GP Inc. (the “GP”). This agreement includes an Improved Consideration of $5.50 per unit (“Unit”), representing a significant 11% increase over the prior consideration of $0.55 per Unit.

New 90-day “Go Shop” Period

The Amended Agreement also introduces a new and extended 90-day “go shop” period, allowing for further exploration of potential opportunities. In light of these developments, the special meeting of REIT unitholders scheduled for November 26, 2024, has been cancelled to focus on the extended “go shop” process. This period will expire on February 24, 2025, providing ample time for review and consideration of potential options.

Implications for Stakeholders

This updated agreement brings about a range of new possibilities for both Melcor REIT and Melcor Developments Ltd. The Improved Consideration offers increased value for REIT unitholders, while the extended “go shop” period opens up opportunities for further collaboration and growth. Overall, this development marks an exciting chapter for both companies and their stakeholders.

How It Will Affect Me

As a stakeholder in Melcor REIT or Melcor Developments Ltd., this amended agreement can have a direct impact on your investment. The Improved Consideration and extended “go shop” period could potentially result in enhanced value and future growth opportunities, offering a positive outlook for your involvement with these companies.

Global Impact

The implications of this amended agreement extend beyond local stakeholders to the broader real estate investment market. The increased consideration and exploration of new opportunities signal a proactive approach to growth and development, setting a positive example for the industry as a whole. This development could inspire similar initiatives and partnerships on a global scale, impacting the world of real estate investment.

Conclusion

In conclusion, the Amended Agreement between Melcor Real Estate Investment Trust and Melcor Developments Ltd. represents a significant step forward for both companies. With an Improved Consideration and an extended “go shop” period, this agreement opens up new opportunities for growth and collaboration. As stakeholders, the potential benefits are clear, and the global impact of this development is likely to be felt across the real estate investment sector. Overall, this announcement marks an exciting time for all involved parties and sets a positive tone for the future.