BOARDWALK REIT ANNOUNCES VOTING RESULTS FROM 2024 ANNUAL AND SPECIAL MEETING OF UNITHOLDERS

BOARDWALK REIT ANNOUNCES VOTING RESULTS FROM 2024 ANNUAL AND SPECIAL MEETING OF UNITHOLDERS

CALGARY, AB, May 7, 2024 /PRNewswire/ – Boardwalk Real Estate Investment Trust (TSX: BEI.UN) (the “Trust” or “Boardwalk REIT“) announced today the results of matters voted on at its annual and special meeting of unitholders held on May 6, 2024 (the “Meeting“), which included the election of all the trustee nominees listed in the Trust’s amended management information circular dated March 25, 2024.  The voting results for each of the matters considered at the Meeting are presented below.  All resolutions other than fixing the number of Trustees were conducted by ballot.

The total number of units (or Class B Units (“LP B Units“) of Boardwalk REIT Limited Partnership exchangeable into units) represented by unitholders present in person or by proxy at the meeting was 46,109,635 representing 85.60% of the Trust’s outstanding units (including the LP B Units).

1.       Number of Trustees – The resolution to fix the number of trustees to be elected at the Meeting at no more than seven was passed as follows:

Votes For

Percent

Votes Against

Percent

Outcome

45,895,072

99.53 %

214,561

0.47 %

Carried

2.       Election of Trustees – The following seven nominees were elected as trustees by resolution passed by a majority of the unitholders: Mandy Abramsohn, Andrea Goertz, Gary Goodman, Sam Kolias, Samantha Kolias-Gunn, Scott Morrison and Brian G. Robinson.  Each of the trustees received the following votes for their election:

Trustee

Votes For

Percent

Votes Withheld

Percent

Outcome

Mandy Abramsohn

45,666,986

99.53 %

215,728

0.47 %

Carried

Andrea Goertz

35,223,556

76.78 %

10,652,326

23.22 %

Carried

Gary Goodman

43,147,217

94.04 %

2,735,538

5.96 %

Carried

Sam Kolias

44,747,986

97.54 %

1,127,937

2.46 %

Carried

Samantha Kolias-Gunn

45,469,428

99.10 %

413,327

0.90 %

Carried

Scott Morrison

45,875,292

99.98 %

7,463

0.02 %

Carried

Brian G. Robinson

44,251,926

96.45 %

1,630,788

3.55 %

Carried

3.       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 as follows:

Votes For

Percent

Votes Withheld

Percent

Outcome

43,172,010

93.63 %

2,937,624

6.37 %

Carried

4.       Executive Compensation Advisory Vote – 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 25, 2024 was passed as follows:

Votes For

Percent

Votes Against

Percent

Outcome

42,650,664

92.96 %

3,232,091

7.04 %

Carried

5.       Approval of the Amendments to the Declaration of Trust – The special resolution to amend the Declaration of Trust disclosed in the “Amendments to the Declaration of Trust” section of the management information circular of the Trust dated March 25, 2024 was passed as follows:

Votes For

Percent

Votes Against

Percent

Outcome

45,832,664

99.89 %

50,091

0.11 %

Carried

CORPORATE PROFILE

Boardwalk REIT strives to be Canada’s friendliest community provider and is a leading owner/operator of multi-family rental communities. Providing homes in more than 200 communities, with over 34,000 residential suites totaling over 29 million net rentable square feet, Boardwalk has a proven long-term track record of building better communities, where love always livestm. Our three-tiered and distinct brands – Boardwalk Living, Boardwalk Communities, and Boardwalk Lifestyle, cater to a diverse demographic and has evolved to capture the life cycle of all Resident Members. Boardwalk REIT’s disciplined approach to capital allocation, acquisition, development, purposeful re-positioning, and management of apartment communities allows the Trust to provide its brand of community across Canada creating exceptional Resident Member experiences. Differentiated by its peak performance culture, Boardwalk is committed to delivering exceptional service, product quality and experience to our Resident Members who reward us with high retention and market leading operating results, which in turn, lead to higher free cash flow and investment returns, stable monthly distributions, and value creation for all our stakeholders.

Boardwalk REIT’s 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 http://www.bwalk.com/investors.

SOURCE Boardwalk Real Estate Investment Trust

Originally published at https://www.prnewswire.com/news-releases/boardwalk-reit-announces-voting-results-from-2024-annual-and-special-meeting-of-unitholders-302138812.html
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