TransGlobe Apartment REIT Announces Redemption of 5.40% Extendible Convertible Unsecured Subordinated Debentures

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TORONTO, Aug. 5, 2016 /CNW/ - TransGlobe Apartment Real Estate Investment Trust (TSX:TGA.DB) (the "REIT") announced today that, in accordance with the trust indenture dated July 29, 2011 between the REIT and BNY Trust Company of Canada, as trustee, it has provided notice to holders of its intention to redeem all of its 5.40% extendible convertible unsecured subordinated debentures (the "Initial Debentures") for cash on October 1, 2016 (the "Redemption Date") upon payment of a redemption amount of $1,000.147945 for each $1,000 principal amount of Initial Debentures, being equal to the aggregate of (i) $1,000 (the "Redemption Price"), and (ii) all accrued and unpaid interest thereon to but excluding the Redemption Date (collectively with the Redemption Price, the "Redemption Payment Amount").

The Redemption Payment Amount will be payable upon presentation and surrender of the Initial Debentures to BNY Trust Company of Canada, the Debenture Trustee, at 320 Bay Street, 11^th Floor, Toronto, ON  M5H 4A6, Attention: Operations Dept., Fax: [phone].

After the Redemption Date, all rights with respect to such Initial Debentures will cease, including that the Initial Debentures will cease to bear interest or to be outstanding, other than the right of the holders to receive the Redemption Payment Amount, less any taxes required to be withheld or deducted.

Also after the Redemption Date, the REIT expects to make application to voluntarily delisting of the Initial Debentures from the Toronto Stock Exchange and also to cease to be a reporting issuer in the provinces and territories of Canada.

SOURCE TransGlobe Apartment Real Estate Investment Trust

Daniel Drimmer, President and Chief Executive Officer, [phone]