TORONTO, ONTARIO–(Marketwired – June 8, 2017) – RioCan Real Estate Investment Trust (“RioCan”) (TSX:REI.UN) today announced the results of the votes held at its June 8, 2017 Annual Meeting of unitholders (the “Meeting”).
The total number of units represented by unitholders present in person or by proxy at the Meeting was 187,638,650; representing 57.59% of RioCan’s outstanding units entitled to be voted.
Each of the nominee Trustees listed in the Trust’s Management Information Circular dated April 10, 2017 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 | 185,744,685 | 99.00% | 1,875,463 | 1.00% | ||||
| Clare R. Copeland | 174,163,733 | 92.83% | 13,456,415 | 7.17% | ||||
| Paul Godfrey, C.M., O.Ont. | 164,521,156 | 87.69% | 23,098,992 | 12.31% | ||||
| Dale H. Lastman | 171,289,867 | 91.30% | 16,330,281 | 8.70% | ||||
| Jane Marshall | 187,154,004 | 99.75% | 466,144 | 0.25% | ||||
| Sharon Sallows | 178,421,645 | 95.10% | 9,198,503 | 4.90% | ||||
| Edward Sonshine, O.Ont., Q.C. | 182,125,986 | 97.07% | 5,494,162 | 2.93% | ||||
| Siim A. Vanaselja | 186,281,550 | 99.29% | 1,338,598 | 0.71% | ||||
| Charles M. Winograd | 186,405,176 | 99.35% | 1,214,972 | 0.65% |
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 |
% | |||
| 186,198,902 | 99.24% | 1,420,343 | 0.76% |
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 |
% | |||
| 174,704,286 | 93.11% | 12,934,273 | 6.89% |
About RioCan
RioCan is Canada’s largest real estate investment trust with a total enterprise value of approximately $14.6 billion as at March 31, 2017. RioCan owns and manages Canada’s largest portfolio of shopping centres with ownership interests in a portfolio of 300 Canadian retail and mixed use properties, including 15 properties under development, containing an aggregate net leasable area of 46 million square feet. For the past 25 years, we have shaped the future, sensibly cultivated growth, and taken our stakeholders and partners wherever they needed to go. Currently, we have more than 6,200 tenants and 700 employees with a presence from coast to coast. We know that there is a home for every retailer. Whether we find it today or build it for tomorrow, we deliver real vision, solid ground. For more information, visit www.riocan.com.
Christian Green
Assistant Vice President, Investor Relations & Compliance
416-864-6483
www.riocan.com