TORONTO, June 07, 2022 (GLOBE NEWSWIRE) -- RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) today announced the results of the votes held at its June 7, 2022 Annual Meeting of unitholders (the “Meeting”).
The total number of units represented by unitholders present in person or by proxy at the Meeting was 169,646,571, representing 54.83% of RioCan’s 309,390,589 outstanding units entitled to be voted.
Each of the nominee Trustees listed in the Trust's Management Information Circular dated April 22, 2022 was elected as a Trustee. RioCan received proxies with regard to voting on the ten Trustees nominated for election, as set forth in the table below:
| Name of Nominee | Votes For | % | Votes Withheld | % |
| Bonnie Brooks, C.M. | 164,947,531 | 97.88% | 3,565,550 | 2.12% |
| Richard Dansereau | 164,995,918 | 97.91% | 3,517,163 | 2.09% |
| Janice Fukakusa, C.M. | 163,391,958 | 96.96% | 5,121,123 | 3.04% |
| Jonathan Gitlin | 165,726,658 | 98.35% | 2,786,423 | 1.65% |
| Marie-Josée Lamothe | 166,597,976 | 98.86% | 1,915,105 | 1.14% |
| Dale H. Lastman, C.M., O.Ont. | 161,536,411 | 95.86% | 6,976,670 | 4.14% |
| Jane Marshall | 164,273,069 | 97.48% | 4,240,012 | 2.52% |
| Edward Sonshine, O.Ont., Q.C. | 157,384,195 | 93.40% | 11,128,886 | 6.60% |
| Siim A. Vanaselja | 157,537,123 | 93.49% | 10,975,958 | 6.51% |
| Charles M. Winograd | 158,951,137 | 94.33% | 9,561,944 | 5.67% |
Appointment of Auditors
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:
| Votes For | % | Votes Withheld | % |
| 164,735,703 | 97.11% | 4,910,868 | 2.89% |
Say-On-Pay Non-Binding Advisory Vote
The non-binding say-on-pay vote on the Trust’s approach to executive compensation was approved as follows:
| Votes For | % | Votes Against | % |
| 152,721,140 | 90.63% | 15,791,261 | 9.37% |
About RioCan
RioCan is one of Canada’s largest real estate investment trusts. 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. As at March 31, 2022, our portfolio is comprised of 204 properties with an aggregate net leasable area of approximately 36.2 million square feet (at RioCan's interest) including office, residential rental and 13 development properties. To learn more about us, please visit www.riocan.com.
