Cominar announces update regarding the retirement of Chief
Financial Officer Michel Berthelot
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE U.S./
QUÉBEC CITY, Dec. 20,
2012 /CNW Telbec/ - Cominar Real Estate Investment Trust
("Cominar") (TSX: CUF.UN) announces today that, due to time
constraints involving the restructuring of his business, Mr.
Dino Fuoco will not join Cominar's
executive management team upon Mr. Michel
Berthelot's retirement, originally scheduled for
May 2013.
Cominar also announces that it has begun a
nomination process to find a successor for Mr. Berthelot and
that Mr. Berthelot has agreed to remain in office as long as
necessary beyond May 2013.
PROFILE as at December
20, 2012
Cominar is the second largest diversified real
estate investment trust in Canada
and currently remains the largest commercial property owner in the
Province of Québec. Cominar owns a real estate portfolio of 482
high-quality properties, consisting of 122 office, 158 retail and
202 industrial and mixed-use buildings that cover a total area of
35 million square feet in Québec, Ontario, the Atlantic Provinces and
Western Canada. Cominar's
objectives are to pay growing cash distributions to unitholders and
to maximize unitholder value by way of proactive management and the
expansion of its portfolio.
Forward-Looking Statements
This press release may contain forward-looking
statements with respect to Cominar and its operations. These
statements generally can be identified by the use of
forward-looking words such as "may", "will", "expect", "estimate",
"anticipate", "intend", "believe" or "continue" or the negative
thereof or similar variations. The performance of Cominar discussed
herein could differ materially from those expressed or implied by
such statements. Such statements are qualified in their entirety by
the inherent risks and uncertainties surrounding future
expectations. Some important factors that could cause actual
results to differ materially from expectations include, among other
things, general economic and market factors, competition, changes
in government regulation and the factors described under "Risk
Factors" in the Annual Information Form of Cominar. The cautionary
statements qualify all forward-looking statements attributable to
Cominar and persons acting on its behalf. Unless otherwise stated,
all forward-looking statements speak only as of the date of this
press release.
SOURCE Cominar Real Estate Investment Trust