TORONTO, May 24, 2018 (GLOBE NEWSWIRE) -- European Commercial Real Estate Investment Trust (TSXV:ERE) (“ECREIT” or the “REIT”) is pleased to announce that all resolutions were passed at its annual and special meeting of holders of units and special voting units of the REIT (together, “Units”) that was held today in Toronto, Ontario, Canada.
In addition to the election of each of the nominee trustees discussed in detail below, at the meeting PricewaterhouseCoopers LLP were re-appointed auditors of the REIT and the REIT’s unit option plan was re-adopted.
Election of Trustees
According to proxies received and a vote by show of hands, the five nominees set forth in the management information circular of the REIT dated April 24, 2018 (the “Circular”) were elected as trustees of the REIT to hold office until the close of the next annual meeting of the REIT’s unitholders or until their successors are duly elected or appointed.
The following are the voting results on this matter:
Trustee | Number of Units | Percentage of Votes Cast | |
Frederic Waks | Votes For: | 3,508,671 | 84.75% |
Votes Withheld: | 631,212 | 15.25% | |
David Ehrlich | Votes For: | 3,498,227 | 84.50% |
Votes Withheld: | 641,656 | 15.50% | |
Jan Arie Breure | Votes For: | 3,493,271 | 84.38% |
Votes Withheld: | 646,612 | 15.62% | |
Ira Gluskin | Votes For: | 4,120,783 | 99.54% |
Votes Withheld: | 19,100 | 0.46% | |
Phillip Burns | Votes For: | 4,139,883 | 100.00% |
Votes Withheld: | 0 | 0.00% |
Re-Appointment of Auditors
According to proxies received and vote by show of hands, PricewaterhouseCoopers LLP were re-appointed as the REIT’s auditors for the ensuing fiscal year and the trustees were authorized to fix the remuneration to be paid to the auditors.
The following are the voting results on this matter:
Number of Units | Percentage of Votes Cast | ||
Votes For: | 3,502,291 | 84.60% | |
Votes Withheld: | 637,592 | 15.40% |
Adoption of Unit Option Plan
According to proxies received and vote by show of hands, the REIT’s rolling unit option plan was re-adopted.
The following are the voting results on this matter:
Number of Units | Percentage of Votes Cast | |
Votes For: | 3,760,339 | 90.83% |
Votes Against: | 379,544 | 9.17% |
About European Commercial Real Estate Investment Trust
ECREIT is an unincorporated, open-ended real estate investment trust focused on aggregating a bespoke portfolio of high-quality, non-prime core commercial real estate assets in key European markets with strong fundamentals. ECREIT’s strategy is designed primarily to deliver long-term, secure income with additional potential for capital appreciation. ECREIT intends to grow by acquiring additional assets consistent with its strategy and which are expected to be accretive, on a per Unit basis, to its earnings. ECREIT’s units are listed on the TSXV under the symbol ERE.UN. For more information please visit our web site at www.ecreit.com.
For more information please contact: | Phillip Burns Chief Executive Officer European Commercial Real Estate Investment Trust Email: phillip.burns@ecreit.com www.ecreit.com |
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.