Automotive Properties REIT Announces Results of Voting at Annual and Special Meeting

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Automotive Properties REIT Announces Results of Voting at Annual and Special Meeting

Canada NewsWire

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, June 13, 2019 /CNW/ - Automotive Properties Real Estate Investment Trust (TSX: APR.UN) (the "Trust") today announced the results of voting at its annual and special meeting of unitholders held yesterday (the "Meeting"). Each of the matters voted upon at the Meeting as set out below is described in greater detail in the Notice of Annual and Special Meeting of Unitholders and Management Information Circular of the Trust dated May 1, 2019.

The total number of trust units and special voting units represented by holders by proxy at the Meeting was 16,536,144, representing 52.12% of the Trust's outstanding trust units and special voting units entitled to be voted.

Election of Trustees

All of the nominees listed in the management information circular prepared in connection with the Meeting were elected as trustees by a resolution passed by a majority of the unitholders present or represented by proxy at the Meeting, to hold office until the next annual meeting following their election or until their successors are elected or appointed without a ballot being conducted. The following represents the proxies received with regard to such matter:

Trust Units

Nominee

Votes For

% Votes For

Votes Withheld

% Votes Withheld

Kapil Dilawri

6,547,787

99.28%

47,804

0.72%

Louis Forbes

6,534,326

99.07%

61,265

0.93%

Patricia Kay

6,495,456

98.48%

100,135

1.52%

Stuart Lazier

6,549,887

99.31%

45,704

0.69%

James Matthews

6,362,076

96.46%

233,515

3.54%

John Morrison

6,555,676

99.39%

39,915

0.61%

 

Special Voting Units

Nominee

Votes For

% Votes For

Votes Withheld

% Votes Withheld

Kapil Dilawri

9,933,253

100%

Nil

Nil

Louis Forbes

9,933,253

100%

Nil

Nil

Patricia Kay

9,933,253

100%

Nil

Nil

Stuart Lazier

9,933,253

100%

Nil

Nil

James Matthews

9,933,253

100%

Nil

Nil

John Morrison

9,933,253

100%

Nil

Nil

 

Appointment of Auditors

BDO Canada LLP was reappointed as auditor of the Trust and the trustees were authorized to fix the auditor's remuneration by a resolution passed by a majority of the unitholders present or represented by proxy at the Meeting without a ballot being conducted.  The following represents the proxies received with regard to such matter:

Trust Units

Votes For

% Votes For

Votes Withheld

% Votes Withheld

6,539,799

99.04%

63,092

0.96%

 

Special Voting Units

Votes For

% Votes For

Votes Withheld

% Votes Withheld

9,933,253

100%

Nil

Nil

 

Amendment to the Equity Incentive Plan

The adoption of the amendment to the Trust's equity incentive plan was approved by a resolution passed by a majority of the unitholders present or represented by proxy at the Meeting. As a result, the total number of trust units available for issuance under the Equity Incentive Plan has increased from 500,000 trust units to 1,000,000 trust units. The results of the vote are detailed below:

Trust Units

Votes For

% Votes For

Votes Against

% Votes Against

6,103,751

92.54%

491,840

7.46%

 

Special Voting Units

Votes For

% Votes For

Votes Against

% Votes Against

9,933,253

100%

Nil

Nil

 

About Automotive Properties REIT
Automotive Properties REIT is an unincorporated, open-ended real estate investment trust focused on owning and acquiring primarily income-producing automotive dealership properties located in Canada. The REIT's portfolio currently consists of 57 income-producing commercial properties, representing more than two million square feet of gross leasable area, in metropolitan markets across British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Québec. Automotive Properties REIT is the only public vehicle in Canada focused on consolidating automotive dealership real estate properties. For more information, please visit:  www.automotivepropertiesreit.ca

SOURCE Automotive Properties Real Estate Investment Trust

View original content: http://www.newswire.ca/en/releases/archive/June2019/13/c4739.html

Copyright CNW Group 2019

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