RioCan Real Estate Investment Trust
TSX : REI.UN

RioCan Real Estate Investment Trust

June 01, 2016 16:37 ET

RioCan Real Estate Investment Trust Announces Results of Voting at RioCan's Annual Meeting

TORONTO, ONTARIO--(Marketwired - June 1, 2016) - RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) today announced the results of the votes held at its June 1, 2016 Annual Meeting of unitholders (the "Meeting").

The total number of units represented by unitholders present in person or by proxy at the Meeting was 195,096,415, representing 60.27% of RioCan's outstanding units.

Each of the nominee Trustees listed in the Trust's Management Information Circular dated April 4, 2016 was elected as a Trustee, without a vote by ballot being conducted. RioCan received proxies with regard to voting on the nine Trustees nominated for election, as set forth in the table below:

Name of Nominee Votes
For

%
Votes
Withheld

%
Bonnie Brooks 177,683,971 91.87% 15,726,943 8.13%
Clare R. Copeland 179,820,150 92.97% 13,589,887 7.03%
Paul Godfrey, C.M., O.Ont. 177,969,395 92.02% 15,435,754 7.98%
Dale H. Lastman 168,078,039 86.90% 25,327,452 13.10%
Jane Marshall 193,230,025 99.91% 181,013 0.09%
Sharon Sallows 181,929,477 94.06% 11,481,561 5.94%
Edward Sonshine, O.Ont., Q.C. 183,547,358 94.90% 9,863,680 5.10%
Luc Vanneste 192,548,614 99.55% 862,424 0.45%
Charles M. Winograd 191,316,130 98.92% 2,094,908 1.08%

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 directors to fix their remuneration) as follows:

Votes
For

%
Votes
Withheld

%
194,097,652 99.49% 989,529 0.51%

Say-On-Pay Non-Binding Advisory Vote

The non-binding say-on-pay vote on the Trust's approach to executive compensation was passed as follows:

Votes
For

%
Votes
Against

%
129,860,245 67.14% 63,555,560 32.86%

Considering the vote was approved by slightly less than 70% of those that voted, over the coming months the Board of Trustees will engage further with Unitholders to understand any further insights and suggestions as we continue to evolve our compensation practices.

About RioCan

RioCan is Canada's largest real estate investment trust with a total enterprise value of approximately $16 billion as at March 31, 2016. RioCan owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 303 Canadian retail and mixed use properties, including 16 properties under development, containing an aggregate net leasable area of 46 million square feet. For further information, please refer to RioCan's website at www.riocan.com.

Contact Information

  • RioCan Real Estate Investment Trust
    Cynthia J. Devine
    Executive Vice President, Chief Financial Officer
    and Corporate Secretary
    (647) 253-4973
    www.riocan.com