03:09 PM EST - Leon's Furniture Limited : Announced its intention to create a Real Estate Investment Trust, which is expected to unlock significant shareholder value while positioning the Company to accelerate growth. LFL has an attractive real estate portfolio of approximately 5.2 million square feet of wholly-owned real estate from which it will vend in a significant portfolio of assets to the REIT. LFL is currently exploring various strategic alternatives for the REIT transaction which could involve an initial public offering of the REIT or a shareholder approved spin out of the REIT to LFL shareholders. It is LFL's intention to maintain a majority ongoing ownership interest in the REIT. Timing of the transaction will be subject to prevailing market conditions and receipt of required regulatory approvals including approval to list the units on the Toronto Stock Exchange. Leon's Furniture Limited
shares T.LNF are trading up $2.28 at $21.78.
