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REI.UN - RioCan Real Estate Investment Trust News Story

C$22.61 -0.0  -0.2%

Last Trade - 26/10/21

Sector
Financials
Size
Large Cap
Market Cap £4.21bn
Enterprise Value £8.15bn
Revenue £681.7m
Position in Universe 101st / 2701

RioCan Real Estate Investment Trust Announces Results of Voting at RioCan’s Annual Meeting

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TORONTO, May 26, 2021 (GLOBE NEWSWIRE) -- RioCan Real Estate Investment Trust
(“RioCan” or the “Trust”) (TSX: REI.UN) today announced the results of
the votes held at its May 26, 2021 Annual Meeting of unitholders (the
“Meeting”).

The total number of units represented by unitholders present in person or by
proxy at the Meeting was 317,262,819; representing 46.66% of RioCan’s
outstanding units entitled to be voted.

Each of the nominee Trustees listed in the Trust's Management Information
Circular dated April 9, 2021 was elected as a Trustee. RioCan received proxies
with regard to voting on the ten Trustees nominated for election, as set forth
in the table below:

 Name of Nominee                Votes For    %       Votes Withheld  %       
 Bonnie Brooks, C.M.            127,478,566  86.44%  20,001,152      13.56%  
 Richard Dansereau              136,645,495  92.65%  10,834,223      7.35%   
 Janice Fukakusa                144,284,507  97.83%  3,195,211       2.17%   
 Jonathan Gitlin                142,295,458  96.48%  5,184,260       3.52%   
 Paul Godfrey, C.M., O.Ont.     127,147,722  86.21%  20,331,996      13.79%  
 Dale H. Lastman, C.M., O.Ont.  139,505,960  94.59%  7,972,758       5.41%   
 Jane Marshall                  136,531,667  92.58%  10,948,051      7.42%   
 Edward Sonshine, O.Ont., Q.C.  136,017,766  92.23%  11,461,952      7.77%   
 Siim A. Vanaselja              127,363,601  86.36%  20,115,117      13.64%  
 Charles M. Winograd            143,823,391  97.52%  3,656,327       2.48%   

Appointment of Auditors

Ernst & Young LLP, Chartered Accountants, was reappointed as the auditor of
the Trust until the next annual meeting of unitholders by resolution passed by
a majority of the unitholders. Management received proxies to vote for the
appointment of the auditor (and to authorize the Trustees to fix their
remuneration) as follows:

 Votes For    %       Votes Withheld  %      
 145,501,089  98.28%  2,548,174       1.72%  

Say-On-Pay Non-Binding Advisory Vote

The non-binding say-on-pay vote on the Trust’s approach to executive
compensation was not approved as follows:

 Votes For   %       Votes Against  %       
 35,571,103  24.12%  111,907,613    75.88%  

The Board of Trustees notes the unsatisfactory result received on the
non-binding advisory vote on executive compensation. The Board takes the views
of unitholders seriously and will continue to expand its engagement with
unitholders and take unitholder feedback into consideration for future
decisions. Consistent with our approach to say-on-pay, we will disclose to
unitholders as soon as practicable, and no later than six months from today, a
summary of feedback received and any changes to the executive compensation
programs made or anticipated.

About RioCan
RioCan is one of Canada’s largest real estate investment trusts. RioCan
owns, manages and develops retail-focused, increasingly mixed-use properties
located in prime, high-density transit-oriented areas where Canadians want to
shop, live and work. As at March 31, 2021, our portfolio is comprised of 223
properties with an aggregate net leasable area of approximately 38.0 million
square feet (at RioCan's interest) including office, residential rental and 15
development properties. To learn more about us, please visit www.riocan.com.

Information contact:
Kim Lee
Vice President, Investor Relations, RioCan REIT
(416) 646-8326
klee@riocan.com

(https://www.globenewswire.com/NewsRoom/AttachmentNg/49a6a37a-66f2-498d-be0a-a0325f69b76b)



GlobeNewswire, Inc. 2021
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