TORONTO, May 28, 2019 (GLOBE NEWSWIRE) -- RioCan Real Estate Investment Trust (“RioCan”) (TSX: REI.UN) today announced the results of the votes held at its May 28, 2019 Annual Meeting of unitholders (the “Meeting”).
The total number of units represented by unitholders present in person or by proxy at the Meeting was 184,869,634; representing 60.86% of RioCan’s outstanding units entitled to be voted.
Each of the nominee Trustees listed in the Trust's Management Information Circular dated March 29, 2019 was elected as a Trustee, without a vote by ballot being conducted. RioCan received proxies with regard to voting on the nine Trustees nominated for election, as set forth in the table below:
|Name ofNominee||VotesFor||%||Votes Withheld||%|
|Bonnie Brooks, C.M.||166,510,123||90.62%||17,232,879||9.38%|
|Paul Godfrey, C.M., O.Ont.||138,734,692||75.50%||45,008,310||24.50%|
|Dale H. Lastman, C.M.||173,518,544||94.44%||10,224,458||5.56%|
|Edward Sonshine, O.Ont., Q.C.||182,634,855||99.40%||1,108,147||0.60%|
|Siim A. Vanaselja||178,088,850||96.92%||5,654,152||3.08%|
|Charles M. Winograd||183,168,811||99.69%||574,191||0.31%|
Ernst & Young LLP, Chartered Accountants, was reappointed as the auditor of the Trust until the next annual meeting of unitholders by resolution passed by a majority of the unitholders. Management received proxies to vote for the appointment of the auditor (and to authorize the Trustees to fix their remuneration) as follows:
Say-On-Pay Non-Binding Advisory Vote
The non-binding say-on-pay vote on the Trust’s approach to executive compensation was passed as follows:
RioCan is one of Canada’s largest real estate investment trusts with a total enterprise value of approximately $14.1 billion at March 31, 2019. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. Our portfolio is comprised of 230 properties, including 14 development properties, with an aggregate net leasable area of approximately 38.3 million square feet including residential rental properties. To learn more about how we deliver real vision on solid ground, visit www.riocan.com.
For more information contact:
VP Marketing & Communications, RioCan REIT
416 646 8138
Source: RioCan Real Estate Investment Trust