This news release constitutes a "designated
news release" for the purposes of the REIT's prospectus supplement
dated December 8, 2021, to its short
form base shelf prospectus dated December 1,
2021.
LITTLE
ROCK, Ark. and TORONTO, May 9, 2024
/CNW/ - BSR Real Estate Investment Trust (the "REIT")
(TSX: HOM.U) (TSX: HOM.UN) announced today the results of voting at
its annual general meeting of unitholders held on May 9, 2024 (the "Meeting").
The number of trustees to be elected at the Meeting was fixed at
seven by a majority of votes represented at the Meeting.
All of the nominees listed in the management information
circular prepared in connection with the Meeting were elected as
trustees of the REIT, with the outcome of the vote being as
follows:[1]
Nominee
|
Votes
For
|
% Votes
For
|
Votes
Withheld
|
% Votes
Withheld
|
William A.
Halter
|
14,669,476
|
99.572 %
|
62,983
|
0.428 %
|
Bryan H.
Held
|
10,849,996
|
73.648 %
|
3,882,241
|
26.352 %
|
W. Daniel Hughes,
Jr.
|
14,628,753
|
99.296 %
|
103,706
|
0.704 %
|
S. Jane
Marshall
|
14,061,719
|
95.447 %
|
670,740
|
4.553 %
|
Teresa Neto
|
14,667,050
|
99.556 %
|
65,409
|
0.444 %
|
Daniel M.
Oberste
|
14,679,850
|
99.643 %
|
52,609
|
0.357 %
|
Graham D.
Senst
|
14,676,361
|
99.619 %
|
56,098
|
0.381 %
|
Following the Meeting, S. Jane
Marshall was appointed Chair of the Board. The following
trustees were appointed as members and respective chairs of the
Board committees for the ensuing year: (i) Audit Committee composed
of Teresa Neto (Chair), Bryan H. Held and Graham
D. Senst; (ii) Compensation, Governance and Nomination
Committee composed of Mr. Held (Chair), Ms. Marshall and
William A. Halter; and (iii)
Investment Committee composed of Mr. Senst (Chair), Ms. Marshall
and Ms. Neto.
As noted in the management information circular prepared in
connection with the Meeting, Neil J.
Labatte and Elizabeth A.
Wademan chose not to stand for re-election as trustees. As
the REIT's Declaration of Trust requires there be a majority of
Canadian resident trustees, to remain compliant with such residency
requirement, Mr. John S. Bailey also
decided not to stand for re-election as a trustee. However,
Mr. Bailey, a founder of BSR Trust, LLC and the REIT's prior Chief
Executive Officer and largest unitholder, plans to continue to
contribute to the REIT's leadership and provide meaningful guidance
to the Board in a non-voting observer capacity. In such capacity,
he will continue to attend all Board and committee meetings and
will remain available to offer strategic advice to the Board and
management.
"I would like to extend my gratitude to Neil, Elizabeth and John
for their extensive contributions and tireless commitment to the
REIT," commented S. Jane Marshall,
Chair of the Board. "The Board wishes Neil and Elizabeth all the
best in their future endeavours, and looks forward to continuing to
work closely with John in the future."
The REIT also reports that the appointment of KPMG LLP as
the REIT's auditors for the 2024 fiscal year was passed by a
majority of the votes represented at the Meeting.
The REIT's full report of voting results on matters presented at
the Meeting can be found at www.sedarplus.com.
About BSR Real Estate Investment
Trust
BSR Real Estate Investment Trust
is an internally managed,
unincorporated, an open-ended real estate investment
trust established pursuant to a declaration of trust under the laws
of the Province of Ontario. The
REIT owns a portfolio of multifamily garden-style residential
properties located in attractive primary and secondary markets in
the Sunbelt region of the United
States.
_________________________
|
1 All
matters were voted on by proxy or at the Meeting, without a ballot.
The items in the chart reflect the proxy tabulation results.
|
SOURCE BSR Real Estate Investment Trust