Leading Independent Proxy Advisory Firms, ISS and Glass Lewis, Recommend H&R REIT's Unitholders vote FOR all proposed items at the Upcoming Annual Meeting of Unitholders and Provides update on Repurchases of Units
Canada NewsWire
TORONTO , May 31, 2023 /CNW/ - H&R Real Estate Investment Trust (" H&R " or the " REIT ") (TSX: HR.UN), is pleased to announce that both Institutional Shareholder Services Inc., (" ISS ") and Glass Lewis and Co., LLC (" Glass Lewis ") have recommended that H&R's unitholders vote FOR all of the resolutions that will be put forth at H&R's annual meeting of unitholders (the " Meeting "), scheduled for June 15, 2023 at 10:30 a.m. (Eastern time) . The Meeting will be held in a virtual-only format via live audio webcast online at www.virtualshareholdermeeting.com/HRREIT2023 .
H&R's unitholders are encouraged to read the REIT's management information circular (the " Circular ") dated April 25, 2023 in detail and cast their votes prior to the proxy voting deadline. The Circular is available under H&R's profile on SEDAR at www.sedar.com and at www.meetingdocuments.com/tsxt/hr . The proxy voting deadline is 10:30 a.m. (Eastern time) on June 13, 2023 and the full details of voting procedures are described in the Circular. H&R's board of trustees recommends that unitholders vote FOR all trustee nominees and meeting resolutions.
Unitholder QuestionsH&R's unitholders who have questions about the Meeting or the Meeting resolutions can contact the REIT's strategic unitholder communications advisor, Laurel Hill Advisory Group, by telephone at 1-877-452-7184 toll-free in Canada of 416-304-0211 for international calls or by e-mail at assistance@laurelhill.com .
Update on Normal Course Issuer BidSince the announcement of the REIT's first quarter financial results on May 12, 2023 , the REIT has repurchased 911,900 Units for cancellation, at a weighted average price of approximately $10.31 per Unit, for a total cost of $9.4 million , under the REIT's normal course issuer bid.
About H&R REITH&R REIT is one of Canada's largest real estate investment trusts with total assets of approximately $11.4 billion as at March 31, 2023 . H&R REIT has ownership interests in a North American portfolio comprised of high-quality residential, industrial, office and retail properties comprising over 28.7 million square feet. H&R's strategy is to create a simplified, growth-oriented business focused on residential and industrial properties in order to create sustainable long-term value for unitholders. H&R plans to sell its office and retail properties as market conditions permit. H&R's target is to be a leading owner, operator and developer of residential and industrial properties, creating value through redevelopment and greenfield development in prime locations within Toronto , Montreal , Vancouver , and high growth U.S. sunbelt and gateway cities.
Additional information regarding H&R REIT is available at www.hr-reit.com and on www.sedar.com
SOURCE H&R Real Estate Investment Trust
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