Allied Properties Real Estate Investment Trust
TSX : AP.UN

Allied Properties Real Estate Investment Trust

May 15, 2015 09:56 ET

Allied Properties REIT Announces Voting Results from the 2015 Annual and Special Meeting of Unitholders

TORONTO, ONTARIO--(Marketwired - May 15, 2015) - Allied Properties REIT (TSX:AP.UN) ("Allied") announced today the results of matters voted on at its annual and special meeting of unitholders held on May 14, 2015 (the "Meeting"). The voting results for each of the matters presented at the Meeting are outlined below.

There were 72 unitholders represented in person or by proxy at the Meeting holding 57,992,426 units, representing 75% of Allied's total issued and outstanding units.

1. Election of Trustees

Each of the nominees for election as trustees listed in Allied's management information circular dated April 14, 2015 were elected as trustees of Allied for the ensuing year or until their successors are elected or appointed. Management received proxies in respect of the election of trustees of Allied as follows:

Votes For Votes Withheld
# % # %
Gerald R. Connor 57,766,946 99.71 167,150 0.29
Gordon R. Cunningham 57,769,043 99.71 166,073 0.29
Michael R. Emory 57,775,790 99.72 159,326 0.28
James Griffiths 57,773,388 99.72 161,728 0.28
Margaret T. Nelligan 52,748,471 91.05 5,185,635 8.95
Ralph T. Neville 57,774,089 99.72 161,027 0.28
Daniel F. Sullivan 57,762,002 99.70 173,114 0.30
Peter Sharpe 57,388,475 99.06 546,641 0.94

2. Board Appointment of Additional Trustees

The ordinary resolutions authorizing the trustees to increase their number from time to time within the limit prescribed in Allied's declaration of trust were approved by a majority of votes cast by unitholders who voted in respect of the resolutions present or represented by proxy at the Meeting. Management received proxies in respect of the board appointment of additional trustees as follows:

Votes For Votes Against
# % # %
57,732,085 99.65 203,031 0.35

3. Appointment of Auditor

BDO Canada LLP, Chartered Accountants, was appointed auditor of Allied until the next annual meeting of unitholders at remuneration to be fixed by the trustees. Management received proxies in respect of the appointment of the auditor of Allied as follows:

Votes For Votes Withheld
# % # %
57,739,546 99.63 215,752 0.37

4. Amendments to Declaration of Trust

The special resolutions authorizing amendments to Allied's amended and restated declaration of trust were approved by at least two-thirds of the votes cast by the unitholders who voted in respect of the special resolutions present or represented by proxy at the Meeting. Management received proxies in respect of the amendments to the amended and restated declaration of trust as follows:

Votes For Votes Against
# % # %
57,191,521 98.71 745,595 1.29

5. Amendments to Unit Option Plan

The ordinary resolutions authorizing amendments to Allied's unit option plan were approved by a majority of votes cast by unitholders who voted in respect of the resolutions present or represented by proxy at the Meeting. Management received proxies in respect of the amendments to the unit option plan as follows:

Votes For Votes Against
# % # %
49,082,438 84.72 8,852,778 15.28

Cautionary Statements

This press release may contain forward-looking statements with respect to Allied, its operations, strategy, financial performance and condition, including statements regarding the proposed acquisition, Allied's ability to obtain municipal approval for mixed-use intensification of the property and potential joint-venture partners. These statements generally can be identified by use of forward looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of Allied discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the transactions contemplated herein are completed. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulations and the factors described under "Risk Factors" in Allied's Annual Information Form, which is available at www.sedar.com. These cautionary statements qualify all forward-looking statements attributable to Allied and persons acting on Allied's behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and the parties have no obligation to update such statements.

Allied Properties REIT is a leading owner, manager and developer of urban office environments that enrich experience and enhance profitability for business tenants operating in Canada's major cities. Its objectives are to provide stable and growing cash distributions to unitholders and to maximize unitholder value through effective management and accretive portfolio growth.

Contact Information

  • Allied Properties REIT
    Michael R. Emory
    President and Chief Executive Officer
    (416) 977-0643
    memory@alliedreit.com

    Allied Properties REIT
    Cecilia C. Williams
    Vice President and Chief Financial Officer
    (416) 977-9002
    cwilliams@alliedreit.com