INTERRENT Announces Voting Results from the 2024 Annual Meeting
Canada NewsWire
OTTAWA, ON, April 24, 2024
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
OTTAWA, ON, April 24, 2024 /CNW/ - InterRent Real Estate Investment Trust (TSX: IP.UN) (the "REIT") is pleased to announce the voting results from its 2024 Annual Meeting (the "Meeting") of unitholders held on April 24, 2024. Each of the matters voted upon at the Meeting is discussed in detail in the REIT's management information circular dated March 13, 2024 (the "Information Circular") and is available on the REIT's website at www.irent.com/MIC2024. A total of 112,882,376 units representing approximately 76.59% of the REIT's issued and outstanding units were voted in person and by proxy in connection with the Meeting. The voting results for each matter presented at the Meeting are provided below:
1. Election of Trustees
The following nominees listed in the Information Circular were elected as trustees of the REIT until the next annual meeting of the unitholders or until their successors are elected or appointed, and the voting results are as follows:
Nominee | Votes | Percentage of | Votes | Votes Withheld as a |
Paul Amirault | 109,529,790 | 97.40 % | 2,924,111 | 2.60 % |
Jean-Louis Bellemare | 111,229,567 | 98.91 % | 1,224,334 | 1.08 % |
Brad Cutsey | 106,919,754 | 95.07 % | 5,534,147 | 4.92 % |
Judy Hendriks | 111,570,492 | 99.21 % | 883,409 | 0.78 % |
John Jussup | 89,343,515 | 79.44 % | 23,110,386 | 20.55 % |
Ronald Leslie | 110,905,091 | 98.62 % | 1,548,810 | 1.37 % |
Mike McGahan | 96,044,372 | 85.42 % | 16,390,068 | 14.57 % |
Meghann O'Hara-Fraser | 111,817,582 | 99.43 % | 636,319 | 0.56 % |
Cheryl Pangborn | 112,246,216 | 99.81 % | 207,685 | 0.18 % |
2. Election of Trustees of InterRent Trust
Nominee | Votes | Percentage of | Votes | Votes Withheld as a |
Paul Amirault | 101,802,049 | 90.52 % | 10,651,852 | 9.47 % |
Jean-Louis Bellemare | 111,227,967 | 98.91 % | 1,225,934 | 1.09 % |
Brad Cutsey | 106,919,754 | 95.07 % | 5,534,147 | 4.92 % |
Judy Hendriks | 108,806,563 | 96.75 % | 3,647,338 | 3.24 % |
John Jussup | 89,345,877 | 79.45 % | 23,108,024 | 20.54 % |
Ronald Leslie | 110,906,191 | 98.62 % | 1,547,710 | 1.37 % |
Mike McGahan | 109,737,490 | 97.60 % | 2,696,950 | 2.39 % |
Meghann O'Hara-Fraser | 111,965,360 | 99.56 % | 488,541 | 0.43 % |
Cheryl Pangborn | 112,107,896 | 99.69 % | 346,005 | 0.30 % |
The trustees of the REIT were authorized to elect the nominees listed in the Information Circular as trustees of InterRent Trust, until the next annual meeting of the unitholders or until their successors are elected or appointed. The voting results for the InterRent Trust are as follows:
3. Election of Directors of InterRent Holdings General Partner Limited
The trustees of the REIT were authorized to elect the nominees listed in the Information Circular as directors of InterRent Holdings General Partner Limited ("GP"), until the next annual meeting of the unitholders or until their successors are elected or appointed. The voting results for the GP are as follows:
Nominee | Votes | Percentage of Votes | Votes | Votes Withheld as a |
Brad Cutsey | 105,595,400 | 93.90 % | 6,858,501 | 6.09 % |
Mike McGahan | 101,092,353 | 89.89 % | 11,361,548 | 10.10 % |
Curt Millar | 111,992,327 | 99.59 % | 461,574 | 0.41 % |
4. Appointment of Auditors
RSM Canada LLP, Chartered Professional Accountants, were re-appointed as auditors of the REIT until the next annual meeting of the unitholders at remuneration to be fixed by the trustees, and the voting results are as follows:
Votes in | Percentage of Votes | Votes | Votes Withheld as a |
95,953,913 | 85.14 % | 16,735,432 | 14.85 % |
InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.
InterRent's strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure, and offer opportunities for accretive acquisitions.
InterRent's primary objectives are to use the proven industry experience of the Trustees, Management and Operational Team to: (i) to grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE InterRent Real Estate Investment Trust
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