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RioCan Real Estate Investment Trust Announces Results of Voting at its Annual Meeting

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RioCan Real Estate Investment Trust
RioCan Real Estate Investment Trust

TORONTO, June 07, 2022 (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 7, 2022 Annual Meeting of unitholders (the “Meeting”).

The total number of units represented by unitholders present in person or by proxy at the Meeting was 169,646,571, representing 54.83% of RioCan’s 309,390,589 outstanding units entitled to be voted.

Each of the nominee Trustees listed in the Trust's Management Information Circular dated April 22, 2022 was elected as a Trustee. RioCan received proxies with regard to voting on the ten Trustees nominated for election, as set forth in the table below:

Name of Nominee

Votes
For

%

Votes
Withheld

%

Bonnie Brooks, C.M.

164,947,531

97.88%

3,565,550

2.12%

Richard Dansereau

164,995,918

97.91%

3,517,163

2.09%

Janice Fukakusa, C.M.

163,391,958

96.96%

5,121,123

3.04%

Jonathan Gitlin

165,726,658

98.35%

2,786,423

1.65%

Marie-Josée Lamothe

166,597,976

98.86%

1,915,105

1.14%

Dale H. Lastman, C.M., O.Ont.

161,536,411

95.86%

6,976,670

4.14%

Jane Marshall

164,273,069

97.48%

4,240,012

2.52%

Edward Sonshine, O.Ont., Q.C.

157,384,195

93.40%

11,128,886

6.60%

Siim A. Vanaselja

157,537,123

93.49%

10,975,958

6.51%

Charles M. Winograd

158,951,137

94.33%

9,561,944

5.67%


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

%

164,735,703

97.11%

4,910,868

2.89%


Say-On-Pay Non-Binding Advisory Vote

The non-binding say-on-pay vote on the Trust’s approach to executive compensation was approved as follows:

Votes
For

%

Votes
Against

%

152,721,140

90.63%

15,791,261

9.37%


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, 2022, our portfolio is comprised of 204 properties with an aggregate net leasable area of approximately 36.2 million square feet (at RioCan's interest) including office, residential rental and 13 development properties. To learn more about us, please visit www.riocan.com.

CONTACT: Information contact: Kim Lee Vice President, Investor Relations, RioCan REIT (416) 646-8326 klee@riocan.com