TORONTO, June 01, 2022 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN) (“CAPREIT”) announced today that, at its Annual and Special Meeting of Unitholders held today (the “Meeting”), each of the items of business referred to in its management information circular dated April 13, 2022 (the “Circular”) were passed by a vote held by ballot.
CAPREIT also announced that, following her re-election to the board of trustees of CAPREIT (the “Board”), Gina Parvaneh Cody has been appointed Chair of the Board. Former Chair Michael Stein retired from the Board upon the conclusion of the Meeting, as announced on April 28, 2022.
“On behalf of the Board and all CAPREIT unitholders, we thank Mike Stein for his leadership and guidance over the last twenty-five years,” Dr. Cody commented. “Looking ahead, we remain very excited about the opportunities to further enhance unitholder value by capitalizing on our proven operating platform and experienced management team and executing the same successful strategies that have generated such strong growth and performance since CAPREIT’s inception.”
A total of 119,795,991 units representing 68.23% of CAPREIT’s issued and outstanding units were voted in connection with the Meeting. The voting results for each item of business are as follows:
Election of Trustees:
All nominees proposed in the Circular were elected as trustees.
| Nominee | Votes | % Votes | Votes | % Votes |
| Lori-Ann Beausoleil | 115,036,738 | 96.37% | 4,326,951 | 3.63% |
| Harold Burke | 118,078,631 | 98.92% | 1,285,058 | 1.08% |
| Gina Parvaneh Cody | 114,622,391 | 96.03% | 4,741,298 | 3.97% |
| Mark Kenney | 118,945,136 | 99.65% | 418,553 | 0.35% |
| Poonam Puri | 116,885,130 | 97.92% | 2,478,559 | 2.08% |
| Jamie Schwartz | 117,903,060 | 98.78% | 1,460,629 | 1.22% |
| Elaine Todres | 118,061,688 | 98.81% | 1,302,001 | 1.09% |
| René Tremblay | 119,034,724 | 99.72% | 328,965 | 0.28% |
Appointment of Auditors
|
| Votes | % Votes | Votes | % Votes |
| PricewaterhouseCoopers, | 103,970,115 | 86.79% | 15,825,876 | 13.21% |
Advisory Vote on Executive Compensation
A non-binding advisory vote to accept CAPREIT’s approach to executive compensation was approved.
| Votes | % Votes | Votes | % Votes |
| 113,166,745 | 94.81% | 6,196,944 | 5.19% |
Amendments to Increase the Maximum Number of Units Issuable Under Equity Incentive Plans
The ordinary resolution authorizing amendments to CAPREIT’s deferred unit plan (the “DUP”), employee unit purchase plan (the “EUPP”), restricted unit rights plan (the “RUR Plan”) to increase the maximum number of units of CAPREIT (“Units”) issuable thereunder was approved.
| Votes | % Votes | Votes | % Votes |
| 118,631,084 | 99.39% | 732,605 | 0.61% |
Amendment and Restatement of the DUP