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Killam Apartment REIT Says TSX Approves Intention to Buy Back Units

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Killam Apartment REIT's (KMP-UN.TO) notice of intention to make a normal course issuer bid for trust units of the REIT has been accepted by the Toronto Stock Exchange, it said in a statement on Tuesday.

Under the bid, the company is permitted to buy back up to 11.9-million units, about 10% of the public float as of the close on June 19. The NCIB will start on July 3 and cancel on July 2, 2027.

Killam will also enter into an automatic securities purchase plan in relation to purchases made under the NCIB, which has been pre-cleared by the TSX. The ASPP is to be implemented on July 3.

Shares of the company closed down 1.2% to C$18.64 on Monday on the TSX.

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