R&R REIT Issues Units to its Non-Executive Trustees and Deferred Units to an Executive Officer
R&R Real Estate Investment Trust (TSXV:RRR-UN.VN) (the "REIT") announces today that it has issued 661,670 trust units to its non-executive trustees at a price of $0.10 per trust unit in accordance with the REIT's Non-Executive Trustee Issuance Plan pursuant to which non-executive trustees can receive 100% of their base annual retainer and certain other retainers in trust units. The trust units that were issued are subject to a 4 month hold period. The REIT also announces today that it has issued 852,720 deferred trust units to an executive officer at a price of $0.10 per deferred trust unit in accordance with the REIT's long-term incentive plan. One third of the deferred trust units granted will vest annually on the anniversary of the award date.
About R&R REIT
R&R REIT is an open-ended real estate investment trust focused on increasing unitholder value through the acquisition and ownership of hotel properties located in the United States.
Neither 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.
SOURCE R&R Real Estate Investment Trust
View original content: http://www.newswire.ca/en/releases/archive/December2019/16/c3369.html
SOURCE: R&R Real Estate Investment Trust
please contact Bob Choo, Chief Financial Officer, R&R Real Estate Investment Trust, 905-206-7102, or e-mail email@example.com.