Boardwalk REIT Announces Voting Results from 2019 Annual and Special Meeting of Unitholders – Wire Real Estate

Boardwalk REIT Announces Voting Results from 2019 Annual and Special Meeting of Unitholders




May 30, 2019

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CALGARY, – Boardwalk Real Estate Investment Trust (TSX:BEI.UN) (the “Trust“) announced today the results of matters voted on at its annual and special meeting of unitholders held on May 15, 2019 (the “Meeting“), which included the election of all the trustee nominees listed in the Trust’s management information circular dated March 31, 2019.  The voting results for each of the matters considered at the Meeting are presented below.

The total number of trust units (or Class B Units of Boardwalk REIT Limited Partnership exchangeable into trust units) represented by unitholders present in person or by proxy at the meeting was 41,556,990, representing 81.67% of the Trust’s outstanding trust units, on a diluted basis.

1.       Election of Trustees – the following seven nominees were elected as trustees by resolution passed by a majority of the unitholders by way of a “show of hands”:  Scott MorrisonGary GoodmanArthur L. Havener, Jr.Sam KoliasSamantha Kolias-GunnBrian G. Robinson and Andrea Goertz.  Management received proxies to vote for the trustees as follows:

Trustee

Proxy Votes 
For

Percent
%

Proxy Votes 
Withheld

Percent
%

Outcome

Scott Morrison

40,125,197

99.80%

81,125

0.20%

Carried

Gary Goodman

41,003,768

99.27%

299,548

0.73%

Carried

Arthur L. Havener, Jr.

41,144,520

99.62%

158,796

0.38%

Carried

Sam Kolias

40,993,117

99.25%

310,199

0.75%

Carried

Samantha Kolias-Gunn

41,216,035

99.79%

87,281

0.21%

Carried

Brian G. Robinson

41,141,142

99.61%

162,174

0.39%

Carried

Andrea Goertz

41,225,083

99.81%

78,233

0.19%

Carried

2.       Appointment of Auditors – Deloitte LLP was reappointed as the auditor of the Trust (and the trustees were authorized to fix their remuneration) by resolution passed by a majority of the unitholders by way of a show of hands.  Management received proxies to vote for the appointment of the auditor (and to authorize the trustees to fix their remuneration) as follows:

Proxy Votes For

Proxy % For

Proxy Votes 
Withheld

Percent %
Withheld

Outcome

41,101,371

98.90%

455,417

1.10%

Carried

3.       Re-Adoption of the Deferred Unit Plan – The special resolution to re-adopt the deferred unit plan of the trust, to permit the Trust to continue issuing deferred units was passed as follows:

Votes For

Proxy % For

Votes Against

Percent % Against

Outcome

40,869,338

98.95%

433,978

1.05%

Carried

4.       Executive Compensation Advisory Note – The resolution, on an advisory, non-binding basis, to accept the approach to executive compensation disclosed in the “Compensation Discussion and Analysis” section of the management information circular of the Trust dated March 31, 2019 was passed as follows:

Votes For

Proxy % For

Votes Against

Percent % Against

Outcome

40,747,989

98.66%

555,327

1.34%

Carried

Corporate Profile

Boardwalk REIT strives to be Canada’s friendliest communities and currently owns and operates more than 200 communities with over 33,000 residential units totaling over 29 million net rentable square feet. Boardwalk’s principal objectives are to provide its Residents with the best quality communities and superior customer service, while providing Unitholders with sustainable monthly cash distributions, and increase the value of its trust units through selective acquisitions, dispositions, development, and effective management of its residential multifamily communities. Boardwalk REIT is vertically integrated and is Canada’s leading owner/operator of multifamily communities with 1,600 Associates bringing Residents home to properties located in AlbertaSaskatchewanOntario, and Quebec.

Boardwalk REIT’s Trust units are listed on the Toronto Stock Exchange, trading under the symbol BEI.UN. Additional information about Boardwalk REIT can be found on the Trust’s website at www.BoardwalkREIT.com.

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Contact Information:
Boardwalk Real Estate Investment Trust

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