BOARDWALK REIT ANNOUNCES VOTING RESULTS FROM 2023 ANNUAL AND SPECIAL MEETING OF UNITHOLDERS

BOARDWALK REIT ANNOUNCES VOTING RESULTS FROM 2023 ANNUAL AND SPECIAL MEETING OF UNITHOLDERS

CALGARY, AB, May 9, 2023 /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 8, 2023 (the “Meeting“), which included the election of all the trustee nominees listed in the Trust’s management information circular dated March 17, 2023.  The voting results for each of the matters considered at the Meeting are presented below.  All resolutions other than fixing the number of Trustees and appointment of auditors 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 42,394,793, representing 84.45% 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

Proxy % For

Votes Against

Percent % Against

Outcome

41,926,438

99.53% %

196,284

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

Proxy Votes For

Percent
%

Proxy Votes Withheld

Percent
%

Outcome

Mandy Abramsohn

41,582,357

98.72 %

540,491

1.28 %

Carried

Andrea Goertz

40,164,620

95.35 %

1,958,228

4.65 %

Carried

Gary Goodman

40,037,518

95.05 %

2,085,330

4.95 %

Carried

Sam Kolias

40,777,182

96.81 %

1,345,666

3.19 %

Carried

Samantha Kolias-Gunn

41,432,735

98.36 %

690,113

1.64 %

Carried

Scott Morrison

41,769,823

99.16 %

353,025

0.84 %

Carried

Brian G. Robinson

37,943,210

90.08 %

4,179,638

9.92 %

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:

Proxy Votes For

Proxy % For

Proxy Votes Withheld

Percent %
Withheld

Outcome

39,929,964

94.19 %

2,464,679

5.81 %

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 17, 2023 was passed as follows:

Votes For

Proxy % For

Votes Against

Percent %
Against

Outcome

41,070,050

97.50 %

1,052,798

2.50 %

Carried

5.  Approval of the Unallocated Deferred Units under the Deferred Unit Plan – The resolution to approve the issuance of all unallocated deferred units under the deferred unit plan of the Trust was passed as follows:

Votes For

Proxy % For

Votes Against

Percent %
Against

Outcome

41,876,509

99.42 %

246,339

0.58 %

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 33,000 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-2023-annual-and-special-meeting-of-unitholders-301819049.html

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