Allied Announces Voting Results of Meeting of Holders of Series C Debentures

TORONTO, June 01, 2023 (GLOBE NEWSWIRE) -- Allied Properties REIT ("Allied") (TSX:AP.UN) announced today the results of a matter voted on at a meeting of the holders ("Debentureholders") of 3.646% Series C Unsecured Debentures due April 21, 2025 (the "Series C Debentures"), of Allied held on June 1, 2023 (the "Meeting"). The voting results are outlined below.

Debentureholders holding $163,048,000 aggregate principal amount of Series C Debentures, representing 81.52% of Allied's total issued and outstanding Series C Debentures as at the record date of May 1, 2023, were represented in person or by proxy at the Meeting.

The extraordinary resolution approving certain amendments (the "Debenture Amendments") to the trust indenture governing each series of debentures of Allied and authorizing Computershare Trust Company of Canada, as debenture trustee, to execute a supplemental indenture giving effect to the Debenture Amendments was approved by at least two-thirds of the votes cast by Debentureholders who voted in respect of the extraordinary resolution present or represented by proxy at the Meeting. The Debenture Amendments are described in Allied's consent and proxy solicitation statement dated May 5, 2023, which is available at www.sedar.com. Management received proxies in respect of the extraordinary resolution as follows:

About Allied

Allied is a leading operator of distinctive urban workspace in Canada's major cities and network-dense UDC space in Toronto. Allied's mission is to provide knowledge-based organizations with workspace and UDC space that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied's vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Cecilia C. Williams, President and Chief Executive Officer
(416) 977-9002
[email protected]

Nanthini Mahalingam, Senior Vice President and Chief Financial Officer
(416) 977-9002
[email protected]