Minto Apartment renews share buyback

Executive Summary

• Minto Apartment REIT announced the renewal of its Normal Course Issuer Bid (NCIB), authorizing the purchase and cancellation of up to 3,471,354 units (≈10% of public float) between Oct. 1 2025 and Sept. 30 2026.
• Purchases will be funded from cash and undrawn credit facilities; prior NCIB activity resulted in acquisition of 3,283,584 units at a weighted‑average price of $13.27 per unit.
• The board believes buying units below net asset value can enhance remaining unitholders’ NAV per unit.

Key Details

• Authorized Purchase Volume: Maximum of 3,471,354 units (≈10% of the REIT’s public float of 34,713,546 units as of Sept. 17 2025).
• Purchase Period: 12‑month window commencing Oct. 1 2025 and ending Sept. 30 2026.
• Daily Purchase Limit: Up to 34,984 units per trading day (≈25% of average daily volume of 139,938 units over the prior six months).
• Weekly Block Purchase Exception: One block purchase per calendar week may exceed the daily limit.
• Financing: Purchases will be financed from available cash and undrawn credit facilities; no new external financing required.
• Previous NCIB Activity: Under the former NCIB, 3,283,584 units were acquired at a weighted‑average price of $13.27 per unit.
• Cancellation: All units purchased under the NCIB will be cancelled immediately upon acquisition, reducing total outstanding units.
• Strategic Rationale: Board expects that buying units below NAV is an attractive use of funds and will increase NAV per remaining unit for unitholders.

Notable Quotes

(No direct quotes were provided in the release.)