Summit Industrial Income Reit Announces Results of Voting for Trustees and Overwhelming Approval of Internalization of Asset and Property Management
TORONTO, May 8, 2019 /CNW/ - Summit Industrial Income REIT (the "REIT") (TSX: SMU.UN) is pleased to announce that unitholders of the REIT have overwhelmingly voted in favour of the previously announced internalization of the REIT's asset and property management functions (the "Internalization") by way of the acquisition of the REIT's external manager, Sigma Asset Management Limited. The Internalization was approved by over 99.8% of votes cast by disinterested unitholders represented in person or by proxy at the REIT's annual general and special meeting of unitholders held earlier today (the "Meeting").
The Internalization is expected to close on May 17, 2019, subject to satisfaction of customary conditions.
The REIT is also pleased to announce the results of the vote on trustees at the Meeting. Each of the nominee trustees listed in the REIT's management information circular dated March 29, 2019 was elected as a trustee of the REIT. The REIT received proxies with regard to voting on the seven trustees nominated for election, directing as set forth in the table below:
Name of Nominee |
Vote For |
% |
Withheld |
% |
Paul Dykeman |
50,070,778 |
99.63 |
188,034 |
0.37 |
Louis Maroun |
49,574,569 |
98.64 |
684,243 |
1.36 |
Saul Shulman |
48,889,627 |
97.28 |
1,369,185 |
2.72 |
James Tadeson |
49,049,465 |
97.59 |
1,209,347 |
2.41 |
Larry Morassutti |
49,107,883 |
97.71 |
1,150,929 |
2.29 |
Michael Catford |
47,081,496 |
93.68 |
3,177,316 |
6.32 |
Dayna Gibbs |
50,038,602 |
99.56 |
220,210 |
0.44 |
A copy of the complete report on voting at the Meeting will be made available on SEDAR.
About the REIT
The REIT is an unincorporated open-ended trust focused on growing and managing a portfolio of light industrial properties across Canada. The REIT's units are listed on the Toronto Stock Exchange and trade under the symbol SMU.UN. For more information, please visit our web site at www.summitIIreit.com.
SOURCE Summit Industrial Income REIT
Paul Dykeman, CEO at (902) 405-8813, [email protected]
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