Boardwalk REIT annonces voting results from 2016 annual and special meeting of unitholders

CALGARY, May 13, 2016 /CNW/ - 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 12, 2016 (the "Meeting"), which included the election of all the trustee nominees listed in the Trust's management information circular dated March 31, 2016.  The voting results for each of the matters considered at the Meeting are presented below.

The total number of common shares represented by unitholders present in person or by proxy at the meeting was 35,556,500, representing 76.25% of the Trust's outstanding trust units.

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":  James R. Dewald, Gary Goodman, Arthur L. Havener, Jr., Sam Kolias, Samantha Kolias, Al W. Mawani and Andrea M. Stephen.  Management received proxies to vote for the trustees as follows:



Trustee

Proxy Votes
For

Percent
%

Proxy Votes
Withheld

Percent
%

Outcome

James R. Dewald

35,203,885

99.77%

82,525

0.23%

Carried

Gary Goodman

35,211,712

99.79%

74,698

0.21%

Carried

Arthur L. Havener, Jr.

35,269,695

99.95%

16,715

0.05%

Carried

Sam Kolias

34,663,851

98.23%

625,659

1.77%

Carried

Samantha Kolias

34,893,145

98.89%

393,265

1.11%

Carried

Al W. Mawani

34,415,042

97.53%

871,368

2.47%

Carried

Andrea M. Stephen

35,172,226

99.76%

114,184

0.32%

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

35,468,299

99.76%

3,100

0.24%

Carried



3.

Amendments to the Declaration of Trust – The special resolution to make certain amendments to the Trust's amended and restated declaration of trust, dated May 14, 2014, to permit the Trust to use the notice and access provisions under applicable securities laws was passed as follows:



Votes For

Proxy % For

Votes Against

Percent % Against

Outcome

34,780,715

98.57

505,695

1.43

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, 2016 was passed as follows:



Votes For

Proxy % For

Votes Against

Percent % Against

Outcome

33,872,856

95.99%

1,413,554

4.11%

Carried



5.

Re-Adoption of Deferred Unit Plan - The resolution to re-adopt  the Deferred Unit Plan of the Trust as set out in the "Deferred Unit Plan" section of the management information circular of the Trust dated March 31, 2016 was passed as follows:



Votes For

Proxy % For

Votes Against

Percent % Against

Outcome

31,095,014

88.12%

4,191,396

11.88%

Carried

Corporate Profile

Boardwalk REIT strives to be Canada's friendliest landlord and currently owns and operates more than 200 communities with over 33,000 residential units totalling approximately 28 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 multi-family communities. Boardwalk REIT is vertically integrated and is Canada's leading owner/operator of multi-family communities with 1,400 Associates bringing Residents home to properties located in Alberta, Saskatchewan, Ontario, 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.

SOURCE Boardwalk Real Estate Investment Trust

For further information: please contact Dean Burns, General Counsel, at 403-531-9255 and/or dean@bwalk.com.

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http://www.bwalk.com

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