Subject: MISCELLANEOUS
RioCan Real Estate Investment Trust Announces Results of Voting at RioCan's Annual and Special Meeting
TORONTO, June 02, 2020 (GLOBE NEWSWIRE) -- RioCan Real Estate Investment Trust ("RioCan" or the "Trust") (TSX: REI.UN) today announced the results of the votes held at its June 2, 2020 Annual and Special Meeting of unitholders (the "Meeting").
The total number of units represented by unitholders present in person or by proxy at the Meeting was 186,451,592; representing 58.77% of RioCan's outstanding units entitled to be voted.
Each of the nominee Trustees listed in the Trust's Management Information Circular dated April 13, 2020 was elected as a Trustee. RioCan received proxies with regard to voting on the nine Trustees nominated for election, as set forth in the table below:
| Name of Nominee | Votes For | % | Votes Withheld | % | ||
| Bonnie Brooks, C.M. | 137,165,257 | 74.08 | % | 47,994,399 | 25.92 | % |
| Richard Dansereau | 177,995,853 | 96.13 | % | 7,163,803 | 3.87 | % |
| Paul Godfrey, C.M., O.Ont. | 142,350,914 | 76.88 | % | 42,808,742 | 23.12 | % |
| Dale H. Lastman, C.M. | 172,039,862 | 92.91 | % | 13,119,794 | 7.09 | % |
| Jane Marshall | 182,809,942 | 98.73 | % | 2,349,714 | 1.27 | % |
| Sharon Sallows | 159,587,314 | 86.19 | % | 25,572,342 | 13.81 | % |
| Edward Sonshine, O.Ont., Q.C. | 183,599,384 | 99.16 | % | 1,560,272 | 0.84 | % |
| Siim A. Vanaselja | 167,844,080 | 90.65 | % | 17,315,576 | 9.35 | % |
| Charles M. Winograd | 183,033,994 | 98.85 | % | 2,125,662 | 1.15 | % |
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 | % | ||
| 184,611,963 | 99.11 | % | 1,664,592 | 0.89 | % |
Special Business ? Second Amended and Restated Declaration of Trust
The ordinary resolution authorizing and approving the Second Amended and Restated Declaration of Trust which was adopted by the Board of Trustees on April 2, 2020 to provide the Trust with the ability to hold virtual unitholder meetings and also made certain ancillary changes to modernize certain provisions of the First Amended and Restated Declaration of Trust adopted by the Board of Trustees on June 17, 2015.
| Vote For | % | Against Vote | % | ||
| 183,917,877 | 99.33 | % | 1,241,780 | 0.67 | % |
Say-On-Pay Non-Binding Advisory Vote
The non-binding say-on-pay vote on the Trust's approach to executive compensation was passed as follows:
| Votes For | % | Votes Against | % | ||
| 145,299,425 | 78.47 | % | 39,860,231 | 21.53 | % |
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, 2020, our portfolio is comprised of 222 properties with an aggregate net leasable area of approximately 38.6 million square feet (at RioCan's interest) including office, residential rental and 16 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
[email protected]
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