Cominar Real Estate Investment Trust Announces Election of Trustees

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./

QUÉBEC CITY, May 10, 2016 /CNW Telbec/ - Cominar Real Estate Investment Trust ("Cominar" or the "REIT") (TSX: CUF.UN) announced today that each trustee nominee listed in the Management Proxy Circular dated March 31, 2016, other than Mr. Robert Després who announced that he would withdraw his candidacy for health reasons, was elected as Trustee of the REIT during the Annual and Special Meeting of the Unitholders held today in Québec City, Québec.

The details of the election are as follows:

Trustee nominee

Outcome

Votes for

% for

Votes withheld

% withheld

Gérard Coulombe

Elected

85,161,498

97.82

1,901,941

2.18

Alain Dallaire

Elected

85,476,451

98.17

1,596,682

1.83

Michel Dallaire

Elected

86,178,426

98.97

894,707

1.03

Ghislaine Laberge

Elected

85,901,415

98.67

1,162,024

1.33

Alban D'Amours

Elected

86,698,614

99.57

374,519

0.43

Mary-Ann Bell

Elected

85,975,541

98.74

1,097,591

1.26

Johanne M. Lépine

Elected

86,781,423

99.68

282,016

0.32

Michel Théroux

Elected

86,777,349

99.66

295,784

0.34

Luc Bachand

Elected

86,764,927

99.65

308,206

0.35

 

The REIT also announced that, following the withdrawal of the candidacy of Mr. Robert Després, Michel Dallaire was appointed as Chairman of the Board and Gérard Coulombe will act as Independent Lead Director. Michel Dallaire also remains Chief Executive Officer of the REIT.

The results of the final votes regarding all matters subject to a vote during the annual and special meeting will be available on the SEDAR website (www.sedar.com).

PROFILE AS AT MAY 10, 2016

Cominar is the third largest diversified real estate investment trust in Canada and currently remains the largest commercial property owner in the Province of Quebec. The REIT owns a real estate portfolio of 537 properties in three different market segments, that is, office properties, retail properties and industrial and mixed-use properties. Cominar's portfolio totals 44.8 million square feet spread out across Quebec, Ontario, the Atlantic Provinces and Western Canada. Cominar's objectives are to pay growing cash distributions to unitholders and to maximize unitholder value through proactive management and the expansion of its portfolio.

 

SOURCE Cominar Real Estate Investment Trust

For further information: Michel Dallaire, Eng., Chief Executive Officer, Gilles Hamel, CPA, CA, Executive Vice President and Chief Financial Officer, (418) 681-8151, michel.dallaire@cominar.com, gilles.hamel@cominar.com

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Cominar Real Estate Investment Trust

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