RCR’s swap doesn’t violate REIT Law float rule

On Friday [link], I wrote that the property-for-share swap between RL Commercial REIT [RCR 6.96 ?1.4%] and its parent company, Robinsons Land [RLC 12.62 ?2.6%], would result in RCR’s public float falling to 28.8%, which is below the 33.33% required by the REIT Law. This is incorrect. The transaction will push RCR’s public float down to 34.22%, which is not in violation of the minimum public ownership threshold applicable to REITs.

  MB BOTTOM-LINE:  My mistake was taking the PSE’s data as a primary source. I used the public float figure on the PSE EDGE website (“35.93%”, which it still says today), but as pointed out by many MB readers, this public float figure is out of date. According to RCR’s June 20 Public Ownership Report, RCR’s public float as of this moment is 42.57%. However, I'm still not quite sure how I would have known that prior to the June 20 disclosure. Where are you all pulling "live" float info from, if not from the PSE itself?