CALGARY, ALBERTA–(Marketwired – May 6, 2016) – Northview Apartment Real Estate Investment Trust (“Northview” or the “REIT”) (TSX:NVU.UN), announced today the voting results from its annual general and special meeting of unitholders held on Thursday, May 5, 2016 in Calgary, Alberta.
A total of 31,099,913 Trust Units and Special Voting Units (“Units”) were represented at the meeting, being 59.55% of the REIT’s issued and outstanding Units. Unitholders voted in favour of all matters brought before the meeting, including the appointment of auditors of the REIT for the ensuing year and the authorization of the trustees to fix the remuneration payable to the auditors, the election of management’s nominees as trustees, approving the amendments to the Declaration of Trust, and approving the approach to executive compensation. Detailed results of the election of trustees are provided below:
|Director Nominee||Votes For||Votes Withheld|
|Douglas H. Mitchell||28,908,262 (94.14%)||1,797,904 (5.86%)|
|Todd R. Cook||30,536,091 (99.45%)||170,075 (0.55%)|
|Daniel Drimmer||29,657,311 (96.58%)||1,048,855 (3.42%)|
|Kevin E. Grayston||30,437,595 (99.13%)||268,571 (0.87%)|
|Dennis J. Hoffman||30,461,408 (99.20%)||244,758 (0.80%)|
|Christine McGinley||30,469,187 (99.23%)||236,979 (0.77%)|
|Terrance L. McKibbon||30,502,181 (99.34%)||203,985 (0.66%)|
|Graham Rosenberg||30,467,244 (99.22%)||238,922 (0.78%)|
|Scott Thon||30,482,633 (99.27%)||223,533 (0.73%)|
|Appointment of Auditors||30,930,216 (99.45%)||169,697 (0.55%)|
|Executive Compensation||29,113,961 (94.81%)||1,592,205 (5.19%)|
The resolution to approve amendments to the Declaration of Trust was passed by a ballot vote. Details of the voting are as follows:
Total shares voted in favor: 30,573,144 (99.57%)
Total shares against: 133,022 (0.43%)
Northview is primarily a multi-family residential real estate investor and operator providing a broad spectrum of rental accommodations with a portfolio of more than 24,000 quality residential suites in more than 60 markets across Canada, which provides Northview the means to deliver stable and growing profitability and cash distributions to Unitholders.
Northview’s residential portfolio is comprised of a multi-family segment, including apartments, town homes, and single family rental units; and an execusuites and hotel segment where the rental period ranges from a few days to several months. Northview also has a portfolio of commercial buildings focused on government and quality corporate tenancies predominantly located in the Northwest Territories, Nunavut, and Newfoundland and Labrador. Geographically, Northview operates in Alberta, British Columbia, New Brunswick, Nova Scotia, Newfoundland and Labrador, the Northwest Territories, Nunavut, Ontario, Québec, and Saskatchewan.
The value of Northview’s real estate at March 31, 2016, was $3.0 billion with 24,761 residential units and 1,143,000 square feet of commercial space. Northview is traded on the TSX under the ticker symbol: NVU.UN.
President and CEO
Northview Apartment Real Estate Investment Trust
Chief Operating Officer