MONTRÉAL, June 18, 2015 /CNW Telbec/ - (TSXV: NEL.UN) Nobel Real Estate Investment Trust ("Nobel REIT" or the "REIT") is pleased to announce the results of the REIT's annual general and special meeting of unitholders held on June 18, 2015 (the "Meeting").
A combined total of 34,859,847 trust units and special voting units (collectively, the "Units") were represented at the Meeting, or 92.67% of the issued and outstanding voting securities of the REIT. Unitholders voted in favour of all items of business before the Meeting by an overwhelming majority, including the election of all trustee nominees proposed by management.
Each of the following nine trustee nominees proposed by management were elected to the REIT's board of trustees, each with the support of over 99.93% of the votes cast in respect of the individual motions for their election: Jean Teasdale, Bernard Grandmont, Jean-Guy Parent, Yves Maurais, Jacques Girard, Serge Riopel, Alfred Corriveau, Denis Perreault and Ben Rodney.
At the Meeting, unitholders also approved and authorized:
- Reappointment of Deloitte as auditor of the REIT;
- Resolution of Advance Notice Policy which established a policy that requires a nominating unitholder to provide notice to the REIT of proposed nominations for trustees;
- Resolution clarifying the REIT's Operating Policies which will best enable Nobel REIT to maintain and enhance its competitive position in the marketplace;
- Resolution authorizing the renewal of the Unit Option Plan.
The REIT is also pleased to announce today a cash distribution of $0.001716 per trust unit of the REIT for the month of June 2015. The distribution will be payable on July 15, 2015 to unitholders of record as at June 30, 2015.
About Nobel REIT
Nobel REIT is an unincorporated open-ended real estate investment trust governed by the laws of the Province of Québec. Nobel REIT has been created for the purpose of acquiring and owning income producing properties. The REIT will focus on acquiring commercial retail, mixed-used retail, and industrial and office properties in the primary and secondary markets in the Province of Québec. Nobel REIT currently owns fourteen properties located in Québec, comprising 656,345 square feet of gross leasable area.
Disclaimer – Safe Harbour Forward–Looking Statements
Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Nobel REIT to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Nobel Real Estate Investment Trust
For further information: Louis Lemire, CPA, CA, Chief Financial Officer, Nobel Real Estate Investment Trust, 1185, Chemin du Tremblay, Suite 230, Longueuil, QC, J4N 1R4, Tel: 450-655-4338; Renmark Financial Communications Inc., Barry Mire: [email protected], Mariam Ghoneim : [email protected], Tel.: (416) 644-2020 or (514) 939-3989, www.renmarkfinancial.com