TORONTO, June 17, 2015 /CNW/ – InnVest Real Estate Investment Trust (“InnVest”) (TSX:INN.UN) is pleased to announce the appointment of Mr. Edward Pitoniak as Chairman of the Board of Trustees effective immediately. Mr. Pitoniak replaces Mr. Majid Mangalji, who stepped down as Chairman at the annual meeting of unitholders held on June 16, 2015. Mr. Mangalji will remain on the Board as a Trustee.
Mr. Mangalji, Chairman since InnVest was founded in 2002, said “I am very proud of our accomplishments over the last thirteen years and I am confident that these achievements set the stage for continued growth and strong performance in the years ahead.”
“The Board of Trustees and management wish to thank Majid for the significant contributions he has made to the Board and InnVest. We look forward to Majid’s continuing input and experience on the Board as we move forward in what I am confident will be an exciting time for InnVest,” said Drew Coles, InnVest’s President and Chief Executive Officer.
Voting Results
InnVest is pleased to announce that all of the resolutions considered at its annual meeting of unitholders held on June 16, 2015 were passed.
The voting results of the election of Trustees and appointment of auditors of InnVest are set forth below. InnVest has filed a report of voting results in respect of all of the resolutions voted on at the meeting on its SEDAR profile at www.sedar.com.
1. Election of Trustees
The following eight nominees listed in InnVest’s management information circular dated May 7, 2015 were elected to serve as a Trustee of InnVest until the close of the next annual meeting of unitholders or until their successors are elected or appointed. Votes were received on this matter as follows:
|
Name |
Votes For |
% |
Withheld |
% |
|
Edward W. Boomer |
72,297,157 |
99.73 |
195,775 |
0.27 |
|
Andrew C. Coles |
71,818,614 |
99.07 |
674,318 |
0.93 |
|
Heather-Anne Irwin |
71,811,353 |
99.06 |
681,579 |
0.94 |
|
Daniel Lewis |
72,345,066 |
99.80 |
146,866 |
0.20 |
|
Jon E. Love |
72,361,644 |
99.82 |
131,288 |
0.18 |
|
Robert McFarlane |
72,364,571 |
99.82 |
128,361 |
0.18 |
|
Edward Pitoniak |
72,728,147 |
98.96 |
764,785 |
1.04 |
|
Robert Wolf |
72,300,249 |
99.73 |
192,683 |
0.27 |
2. Appointment of Auditors
Deloitte LLP was appointed as auditors of InnVest until the close of the next annual meeting of unitholders, and the Trustees were authorized to fix the remuneration of the auditors. Votes were received on this matter as follows:
|
Votes For |
% |
Withheld |
% |
|
72,764,286 |
99.89 |
83,755 |
0.11 |
TRUST PROFILE
InnVest Real Estate Investment Trust is an unincorporated open-ended real estate investment trust which owns a portfolio of 109 hotels across Canada representing approximately 15,000 guest rooms operated under internationally recognized brands. InnVest also holds a 50% interest in Choice Hotels Canada Inc., one of the largest franchisors of hotels in Canada. InnVest’s units and convertible debentures trade on the Toronto Stock Exchange (the “TSX”) under the symbols INN.UN, INN.DB.E, INN.DB.F and INN.DB.G.
SOURCE InnVest Real Estate Investment Trust
