TORONTO, ONTARIO--(Marketwired - June 20, 2014) - Artis Real Estate Investment Trust ("Artis" or the "REIT") (TSX:AX.UN) today announced the results of the votes held at its June 19, 2014 Annual and Special Meeting of Unitholders (the "Meeting").
The total number of units represented by unitholders present in person or by proxy at the Meeting was 43,822,151, representing 34.27% of Artis' outstanding units.
Each of the nominee Trustees listed in the Information Circular dated May 2, 2014 was elected as a Trustee. Management received proxies to vote on the nominee Trustees as follows:
| Name of Nominee |
Votes For |
% For |
Votes
Withheld |
% Withheld |
| Delmore Crewson |
41,921,591 |
98.98 |
430,411 |
1.02 |
| Armin Martens |
41,743,291 |
98.56 |
608,711 |
1.44 |
| Cornelius Martens |
42,028,285 |
99.24 |
323,717 |
0.76 |
| Ronald Rimer |
41,867,902 |
98.86 |
484,100 |
1.14 |
| Patrick Ryan |
41,763,348 |
98.61 |
588,654 |
1.39 |
| Victor Thielmann |
41,514,076 |
98.02 |
837,926 |
1.98 |
| Wayne Townsend |
41,498,534 |
97.98 |
853,468 |
2.02 |
| Edward Warkentin |
39,629,355 |
93.57 |
2,722,647 |
6.43 |
Artis is a diversified Canadian real estate investment trust investing in office, industrial and retail properties. Since 2004, Artis has executed an aggressive but disciplined growth strategy, building a portfolio of commercial properties in Canada and the United States, with a major focus on Western Canada. As of today's date, Artis' commercial property comprises approximately 25.0 million square feet of leasable area.
At March 31, 2014, actual period-to-date Property Net Operating Income ("Property NOI") by asset class was approximately 24.7% retail, 51.5% office and 23.8% industrial. Property NOI by geographical region was approximately 8.3% in British Columbia, 38.7% in Alberta, 5.6% in Saskatchewan, 12.2% in Manitoba, 12.6% in Ontario and 22.6% in the U.S.
Property NOI is a non-GAAP measure. Artis calculates Property NOI as revenues, measured in accordance with International Financial Reporting Standards, less property operating expenses such as taxes, utilities, repairs and maintenance, and does not include charges for interest and amortization or income from joint arrangements accounted for as equity investments.
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