DALLAS and TORONTO, Sept. 11, 2023 /CNW/ — NexPoint Hospitality Trust, (“NHT” or the “REIT“1), (TSX-V: NHT.U) announced today the issuance of 1,295,668 deferred units (the “Deferred Units“) to certain independent trustees of the REIT, pursuant to the REIT’s existing deferred unit plan (the “Deferred Unit Plan“). The Deferred Units were granted in respect of accrued trustee fees up to the end of Q2 2023, in the aggregate amount of US$323,917 and pursuant to the REIT’s matching program.
The grant is subject to the adoption of an amended and restated deferred unit plan, approval by the TSX Venture Exchange (“TSXV“) and an affirmative vote of a majority of the votes cast by disinterested unitholders of the REIT, excluding the votes cast by such unitholders that are required to be excluded pursuant to TSXV Policy 4.4 – Security Based Compensation at the REIT’s upcoming annual and special meeting of unitholders.
About NHT
NexPoint Hospitality Trust is a publicly traded real estate investment trust, with its Units listed on the TSXV under the ticker NHT.U. NHT is focused on acquiring, owning and operating well-located hospitality properties in the United States that offer a high current yield and in many cases are underperforming assets with the potential to increase in value through investments in capital improvements, a market-based recovery, brand repositioning, revenue enhancements, operational improvements, expense inefficiencies, and exploiting excess land or underutilized space. NHT owns 9 branded properties sponsored by Marriott, Hilton, Hyatt, and Intercontinental Hotels Group, located across the U.S. NHT is externally advised by NexPoint Real Estate Advisors VI, L.P.
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.
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1 In this release, “we,” “us,” “our,” and “NHT” each refer to NexPoint Hospitality Trust.
SOURCE NexPoint Hospitality Trust
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