Firm Capital Property Trust Announces Normal Course Issuer Bid

Core Viewpoint - Firm Capital Property Trust ("FCPT") has announced its intention to initiate a normal course issuer bid (NCIB) for its outstanding trust units, aiming to purchase up to 3,281,995 units over a 12-month period, which represents 10% of the public float as of July 5, 2024 [3][4][5]. Company Information - As of July 15, 2024, there are 36,925,682 trust units of FCPT outstanding, with a public float of 32,819,951 trust units [1]. - The average daily trading volume on the TSX from January 1, 2024, to June 30, 2024, was 16,228 trust units, with daily purchases under the NCIB limited to 4,057 trust units, excluding block purchases [4]. Investment Strategy - FCPT believes that its trust units may trade at a price that does not reflect their true value relative to the business and future prospects, making them an attractive investment opportunity [5]. - The Trust aims to create long-term value for unitholders through capital preservation and disciplined investing, focusing on a diversified property portfolio that includes multi-residential, flex industrial, net lease convenience retail, and professional service spaces [11].