Freehold Royalty Trust

Freehold Royalty Trust

May 12, 2006 13:26 ET

Freehold Royalty Trust Reports Outcome of 2006 Annual and Special Meeting of Unitholders

CALGARY, ALBERTA--(CCNMatthews - May 12, 2006) - Freehold Royalty Trust (TSX:FRU.UN) reports that Unitholders approved all of the motions described in the Information Circular - Management Proxy Statement dated March 23, 2006, at the Annual and Special Meeting held on May 10, 2006.


National Instrument 51-102 - Continuous Disclosure Obligations (Section 11.3)

The Scrutineers reported that there were 20 registered Unitholders and proxyholders voting in person, holding 13,200 Trust Units and that there were 92 Unitholders represented by management proxies holding 20,146,453 Trust Units. The total number of Trust Units represented in person and by proxy at the meeting was 20,159,653. This number represents 41.11% of the total number of Trust Units outstanding.

Business of the Meeting Outcome of Vote
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The following matters were put to a vote by a show of hands:

1. Fix the number of directors of Freehold The resolution was
Resources Ltd. to be elected at the meeting approved.
at seven (7) members.

2. The election of the following nominees as All nominees proposed
directors of Freehold Resources Ltd. for the by management were
ensuing year or until their successors are elected.
elected or appointed:
D. Nolan Blades
Harry S. Campbell, Q.C.
Tullio Cedraschi
Peter T. Harrison
Dr. P. Michael Maher
David J. Sandmeyer
William W. Siebens

3. The appointment of KPMG LLP, Chartered KPMG LLP was appointed
Accountants, as auditors of the Trust and as auditors.
Freehold Resources Ltd. to hold office until
the next annual meeting or until their
successors are appointed.

The following matters were put to a vote by ballot:

4. The special resolution approving amendments The special resolution
to the Trust Indenture. was approved by ballot
with 97.48% votes cast
for the motion and
2.52% votes cast
against the motion.

5. The special resolution approving the The special resolution
Deferred Trust Unit Plan, approving the was approved by ballot
reservation and issuance of up to 200,000 with 97.80% votes cast
Trust Units to be issued to the directors for the motion and
of Freehold Resources pursuant to the 2.20% votes cast
Deferred Trust Unit Plan, and approving against the motion.
the termination of the current Trust Unit
Option Plan of the Trust.

6. Approving the reservation and issuance The resolution was
of up to 800,000 Trust Units to Rife approved by ballot
Resources Management Ltd., when and as with 95.50% votes cast
earned, as payment of the quarterly for the motion and
management fee payable to the Manager in 4.50% votes cast
Trust Units. against the motion.

Contact Information

  • Freehold Royalty Trust
    Karen Taylor
    Manager, Investor Relations
    (403) 221-0891 or Toll-free: 1-888-257-1873
    (403) 221-0888 (FAX)