TORONTO, ONTARIO–(Marketwired – April 24, 2015) – DREAM GLOBAL REIT (TSX:DRG.UN) today announced it has amended its deferred unit incentive plan (the “Plan“) to limit the participation of non-employee trustees in the plan. The amendments were introduced in response to feedback from unitholders and their advisors. Under the amended Plan (i) the number of units of Dream Global REIT issuable to non-employee trustees, at any time, under all of Dream Global REIT’s security based compensation arrangements may not exceed 1% of the issued and outstanding units; and (ii) the aggregate value of all deferred trust units issued to any non-employee trustee within any one financial year under all of Dream Global REIT’s security based compensation arrangements, may not exceed $150,000. Unitholder approval is required for any modification or amendment to the foregoing limitations on non-employee trustee participation.
We believe these revisions will further enhance our corporate governance practices and procedures. With the revisions described above, we believe the Plan now appropriately limits non-employee trustee participation. The board of Dream Global REIT has unanimously approved these amendments to the Plan. Unitholder approval was not required for these amendments. However, unitholders will be asked at our annual general meeting to approve an amendment to the Plan to increase the number of units authorized thereunder. Unitholders are encouraged to vote, and change any prior vote, in order to support the aforementioned amendment to the Plan to increase the number of authorized units.
Dream Global REIT is an unincorporated, open-ended real estate investment trust that provides investors with the opportunity to invest in commercial real estate exclusively outside of Canada. Dream Global REIT’s portfolio currently consists of approximately 13.9 million square feet of gross leasable area of office, industrial and mixed use properties across Germany. For more information, please visit www.dreamglobalreit.ca.
P. Jane Gavan
President and Chief Executive Officer
Dream Global REIT
Rene D. Gulliver
Chief Financial Officer