Artis Real Estate Investment Trust Announces Voting Results From the 2021 Annual and Special Meeting of Unitholders
WINNIPEG, MB, May 21, 2021 /CNW/ - Artis Real Estate Investment Trust ("Artis" or the "REIT") (TSX: AX.UN) announced today the results of matters voted on at its annual and special meeting of unitholders held on May 21, 2021 (the "Meeting").
"We are very pleased to have received overwhelming support from the owners of Artis for all matters presented at the Meeting, along with record unitholder turnout," said Ben Rodney, Chair of the Board of Trustees. "With this strong endorsement, we can now focus on execution and performance. Artis' vision and strategy are bold, unique and unprecedented in the Canadian capital markets, and we are excited to deviate from the industry status-quo and be at the forefront of innovation. The board of trustees and leadership team are committed to building Artis into a best-in-class asset management and investment platform focused on value investing in real estate which will reward investors with growing distributions and significant value creation."
The total number of units represented by unitholders present in person (virtually) or by proxy at the Meeting was 87,861,524, representing 66.27% of Artis' outstanding units.
1. Number of Trustees
The unitholders passed a resolution to fix the number of Trustees of the REIT at seven (7). The results of the vote are set out below:
Votes For |
% For |
Votes Against |
% Against |
86,566,351 |
99.08 |
800,306 |
0.92 |
2. Election of Trustees
The unitholders passed a resolution to elect the following nominees named in the Management Information Circular dated April 12, 2021 (the "Information Circular"), as Trustees for the ensuing year to hold office from the close of the Meeting until the close of the next annual meeting of unitholders. The results of the vote are set out below:
Name of Nominee |
Votes For |
% For |
Votes Withheld |
% Withheld |
Heather-Anne Irwin |
86,254,614 |
98.73 |
1,112,043 |
1.27 |
Samir Manji |
84,945,477 |
97.23 |
2,421,180 |
2.77 |
Ben Rodney |
84,990,652 |
97.28 |
2,376,005 |
2.72 |
Mike Shaikh |
83,572,756 |
95.66 |
3,793,901 |
4.34 |
Aida Tammer |
85,746,707 |
98.15 |
1,619,950 |
1.85 |
Lis Wigmore |
86,134,370 |
98.59 |
1,232,287 |
1.41 |
Lauren Zucker |
85,789,176 |
98.19 |
1,577,481 |
1.81 |
3. Appointment of External Auditor
The unitholders passed a resolution reappointing Deloitte LLP as external auditor of the REIT for the ensuing year and authorizing the Trustees to fix the remuneration of the external auditor. The results of the vote are set out below:
Votes For |
% For |
Votes Withheld |
% Withheld |
85,109,085 |
96.87 |
2,752,439 |
3.13 |
4. Advisory Vote on Executive Compensation
The unitholders accepted, on an advisory basis, the REITs approach to executive compensation. The results of the vote are set out below:
Votes For |
% For |
Votes Against |
% Against |
78,408,652 |
89.75 |
8,958,005 |
10.25 |
5. Amendment to the REIT's Declaration of Trust
The unitholders passed a special resolution approving certain amendments to the REIT's declaration of trust, as more particularly described in the Information Circular. The results of the vote are set out below:
Votes For |
% For |
Votes Against |
% Against |
84,425,217 |
96.63 |
2,941,440 |
3.37 |
6. Conversion from a "Closed-End" Trust to an "Open-End" Trust
The unitholders passed a special resolution granting the Trustees the authority, if and when they consider desirable, to convert the REIT from a "closed-end" trust to an "open-end" trust, as more particularly described in the Information Circular. The results of the vote are set out below:
Votes For |
% For |
Votes Against |
% Against |
84,466,699 |
96.68 |
2,899,958 |
3.32 |
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Artis is a diversified Canadian real estate investment trust with a portfolio of industrial, office and retail properties in Canada and the United States. Artis' vision is to build a best-in-class asset management and investment platform focused on growing net asset value per unit and distributions for investors through value investing in real estate.
Cautionary Statements
This press release contains forward-looking statements. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words "expects", "anticipates", "intends", "estimates", "projects", "seeks", and similar expressions or variations of such words and phrases or state that certain actions, events or results ''may'', ''would'' or ''will'' occur or be achieved are intended to identify forward-looking statements. Particularly, statements regarding the Business Transformation Plan, the steps required to implement the Business Transformation Plan, building Artis into a best-in-class asset management and investment platform focused on value investing in real estate, growing distributions and significant value creation are forward-looking statements. Forward-looking statements are based on a number of factors and assumptions which have been used to develop such statements, but which may prove to be incorrect. Artis cannot assure investors that actual results will be consistent with any forward-looking statements and Artis assumes no obligation to update or revise such forward-looking statements to reflect actual events or new circumstances. All forward-looking statements contained in this press release are qualified by this cautionary statement.
SOURCE Artis Real Estate Investment Trust
Please contact Mr. Samir Manji, President and Chief Executive Officer or Ms. Heather Nikkel, Vice-President - Investor Relations of the REIT at 1.204.947.1250
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