September 25, 2017 16:46 ET

OneREIT Announces Results from Special Meeting of Unitholders

TORONTO, ONTARIO--(Marketwired - Sept. 25, 2017) - OneREIT (TSX:ONR.UN) announced today the voting results from its special meeting of holders of units and special voting units (the "Meeting") held on Monday, September 25, 2017 in Toronto, Ontario.

The total number of units ("Units") and special voting units ("SVUs", and together with the Units, the "Voting Units") of OneREIT represented by holders of Voting Units ("Unitholders") present in person or by proxy at the Meeting was 50,057,719, representing in total 51.67% of OneREIT's issued and outstanding Voting Units. At the Meeting, Unitholders approved the previously announced plan of arrangement involving, among others, OneREIT, Smart Real Estate Investment Trust and Strathallen Acquisitions Inc. (the "Transaction"), with approximately 99.23% of the votes cast at the Meeting in favour of the Transaction (98.51% excluding the votes of interested parties in accordance with Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions).

OneREIT will be seeking a final order (the "Final Order") from the Ontario Superior Court of Justice (Commercial List) with respect to the Transaction on September 26, 2017.

About OneREIT

OneREIT is an unincorporated, open-end real estate investment trust which focuses on owning and acquiring retail properties across Canada with the goal of enhancing long-term unitholder value.

Forward-Looking Information

This press release includes forward-looking information. In some cases, forward-looking information can be identified by the use of words such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", and by discussions of strategies that involve risks and uncertainties. The forward-looking information is based on certain key expectations and assumptions made by OneREIT, including with respect to the Transaction and all other statements that are not historical facts. The timing and completion of the Transaction is subject to customary closing conditions, termination rights and other risks and uncertainties including, without limitation, required regulatory and court approvals. Although management of OneREIT believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that any transaction, including the Transaction, will occur or that it will occur on the timetable or on the terms and conditions contemplated in this news release. The Transaction could be modified, restructured or terminated. Readers are cautioned not to place undue reliance on forward-looking information. By its nature, such forward-looking information necessarily involves known and unknown risks and uncertainties that may cause actual results, performance, prospects and opportunities in future periods of OneREIT to differ materially from those expressed or implied by such forward-looking statements. Neither OneREIT nor and any other person assumes responsibility for the accuracy and completeness of any forward-looking information, and no one has any obligation to update or revise any forward-looking information, whether as a result of new information, future events or such other factors which affect this information, except as required by law.

Contact Information

  • Richard Michaeloff
    Chief Executive Officer
    Tel: (416) 741-7999
    Fax: (416) 741-7993