/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
in Favour
Percentage of
Votes Cast in Favour
Votes
Withheld
Votes Withheld as a
Percentage of Votes Cast
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
in Favour
Percentage of
Votes Cast in Favour
Votes
Withheld
Votes Withheld as a
Percentage of Votes Cast
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
in Favour
Percentage of Votes
Cast in Favour
Votes
Withheld
Votes Withheld as a
Percentage of Votes Cast
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
Favour
Percentage of Votes
Cast in Favour
Votes
Withheld
Votes Withheld as a
Percentage of Votes Cast
95,953,913
85.14 %
16,735,432
14.85 %
ABOUT INTERRENT
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.
T he 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