Boardwalk REIT Announces Voting Results from 2017 Annual and Special Meeting of Unitholders
CALGARY, May 16, 2017 /PRNewswire/ - Boardwalk Real Estate Investment Trust (TSX:BEI.UN) (the "Trust") announced today the results of matters voted on at its annual and special meeting of unitholders held on May 11, 2017 (the "Meeting"), which included the election of all the trustee nominees listed in the Trust's management information circular dated March 31, 2017. The voting results for each of the matters considered at the Meeting are presented below.
The total number of trust units (or Class B Units of Boardwalk REIT Limited Partnership exchangeable into trust units) represented by unitholders present in person or by proxy at the meeting was 41,063,560, representing 80.90% of the Trust's outstanding trust units, on a diluted basis.
| 1. |
Election of Trustees – the following seven nominees were elected as trustees by resolution passed by a majority of the unitholders by way of a "show of hands": James R. Dewald, Gary Goodman, Arthur L. Havener, Jr., Sam Kolias, Samantha Kolias, Brian G. Robinson and Andrea M. Stephen. Management received proxies to vote for the trustees as follows: |
| Trustee |
Proxy Votes For |
Percent |
Proxy Votes Withheld |
Percent |
Outcome |
| James R. Dewald |
40,874,909 |
99.79% |
87,012 |
0.21% |
Carried |
| Gary Goodman |
40,951,507 |
99.97% |
10,414 |
0.03% |
Carried |
| Arthur L. Havener, Jr. |
40,874,135 |
99.79% |
87,786 |
0.21% |
Carried |
| Sam Kolias |
40,727,018 |
99.43% |
234,903 |
0.57% |
Carried |
| Samantha Kolias-Gunn |
40,755,614 |
99.50% |
206,307 |
0.50% |
Carried |
| Brian G. Robinson |
40,949,644 |
99.97% |
12,277 |
0.03% |
Carried |
| Andrea M. Stephen |
40,848,429 |
99.72% |
113,492 |
0.28% |
Carried |
| 2. |
Appointment of Auditors – Deloitte LLP was reappointed as the auditor of the Trust (and the trustees were authorized to fix their remuneration) by resolution passed by a majority of the unitholders by way of a show of hands. Management received proxies to vote for the appointment of the auditor (and to authorize the trustees to fix their remuneration) as follows: |
| Proxy Votes For |
Proxy % For |
Proxy Votes Withheld |
Percent % Withheld |
Outcome |
| 40,981,116 |
99.81% |
79,664 |
0.19% |
Carried |
| 3. |
Amendments to the Declaration of Trust – The special resolution to make certain amendments to the Trust's amended and restated declaration of trust, dated May 12, 2016, to permit the Trust to use the notice and access provisions under applicable securities laws was passed as follows: |
| Votes For |
Proxy % For |
Votes Against |
Percent % Against |
Outcome |
| 40,726,477 |
99.43 |
235,444 |
0.57 |
Carried |
| 4. |
Executive Compensation Advisory Note – The resolution, on an advisory, non-binding basis, to accept the approach to executive compensation disclosed in the "Compensation Discussion and Analysis" section of the management information circular of the Trust dated March 31, 2017 was passed as follows: |
| Votes For |
Proxy % For |
Votes Against |
Percent % Against |
Outcome |
| 40,171,242 |
98.07% |
790,679 |
1.93% |
Carried |
| 5. |
Re-Adoption of and Amendments to Deferred Unit Plan - The resolution to re-adopt and ratify amendments to the Deferred Unit Plan of the Trust as set out in the "Deferred Unit Plan" section of the management information circular of the Trust dated March 31, 2017 was passed as follows: |
| Votes For |
Proxy % For |
Votes Against |
Percent % Against |
Outcome |
| 40,040,934 |
97.75% |
920,987 |
2.25% |
Carried |
Corporate Profile
Boardwalk REIT strives to be Canada's friendliest landlord and currently owns and operates more than 200 communities with over 33,000 residential units totalling approximately 28 million net rentable square feet. Boardwalk's principal objectives are to provide its Residents with the best quality communities and superior customer service, while providing Unitholders with sustainable monthly cash distributions, and increase the value of its trust units through selective acquisitions, dispositions, development, and effective management of its residential multi-family communities. Boardwalk REIT is vertically integrated and is Canada's leading owner/operator of multi-family communities with 1,700 Associates bringing Residents home to properties located in Alberta, Saskatchewan, Ontario, and Quebec.
Boardwalk REIT's Trust units are listed on the Toronto Stock Exchange, trading under the symbol BEI.UN. Additional information about Boardwalk REIT can be found on the Trust's website at www.BoardwalkREIT.com.
SOURCE Boardwalk Real Estate Investment Trust
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