CALGARY, ALBERTA--(Marketwired - Apr 21, 2017) - Northview Apartment Real Estate Investment Trust ("Northview") (TSX:NVU.UN), today announced that it has amended certain terms of the amended and restated unitholder rights plan agreement (the "Plan") to be presented for approval at the annual and special meeting of shareholders of Northview scheduled to be held on May 9, 2017 (the "Meeting"). The amendments were made in response to comments from Institutional Shareholder Services Inc. ("ISS"), a proxy voting advisory and corporate governance services firm.
"We are committed to understanding and responding to concerns raised by or on behalf of our unitholders, and have therefore made these amendments to address all of the concerns expressed by ISS with respect to the Plan. We continue to believe that the approval of the Plan is in the best interests of Northview and its unitholders," said Todd Cook, President and CEO of Northview.
Northview has amended the definitions of "Competing Permitted Bid" and "Permitted Bid" in the Plan to clarify that the Plan is a "new generation" unitholder rights plan and that partial bids are permitted under the Plan. In particular, the amended Plan now details the applicable provisions of National Instrument 62-104 Take-Over Bids and Issuer Bids which define a "Competing Permitted Bid" and "Permitted Bid".
The amended Plan is available on SEDAR. We encourage Northview unitholders to vote FOR the plan at the upcoming Meeting. Be sure to vote your proxy before Monday, May 8, 2017 at 3:00 pm (Mountain Standard Time).
Northview is one of Canada's largest publicly traded multi-family REITs with a portfolio of approximately 24,000 quality residential suites in more than 60 markets across eight provinces and two territories. Northview's portfolio includes markets characterized by expanding populations, growing economies, high occupancy levels, and rising rents, which provides Northview the means to deliver stable and growing profitability and cash distributions to Unitholders of Northview over time. Northview currently trades on the TSX under the ticker symbol: NVU.UN. Additional information concerning Northview is available at www.sedar.com or www.northviewreit.com.