VANCOUVER, British Columbia, June 27, 2024 (GLOBE NEWSWIRE) -- AIP Realty Trust (the “Trust” or “AIP Realty”) (TSXV:AIP.U) announced the results of voting at its annual general and special meeting of unitholders held Thursday, June 27, 2024 (the “Meeting”). A total of 44.09% of the issued and outstanding class A trust units of the Trust (the “Class A Units”) and 72.23% of the issued and outstanding preferred units – series B convertible of the Trust (the “Preferred Units” and, together with the Class A Units, the “Units”) were represented at the Meeting, and each of the resolutions put forward by the trustees of the Trust (the “Trustees”) were approved.
Each of Greg Vorwaller, Leslie Wulf, Bruce Hall, Nathan Smith, Brian Shibley, Kobi Dorenbush and Samantha Adams were elected as Trustees of the Trust to hold office until the next annual meeting of unitholders.
MNP LLP was re-appointed auditors of the Trust for the ensuing year at the remuneration to be fixed by the Trustees.
Both the unit option plan (the “Option Plan”) and equity incentive plan (the “Incentive Plan” and, together with the Option Plan, the “Plans”) of the Trust were re-approved by 99.84% of the votes of Class A Units and 100% of the votes of Preferred Units, in respect of the Option Plan, and by 95.23% of the votes of Class A Units and 100% of the votes of Preferred Units, in respect of the Incentive Plan. The Plans are designed to advance the interests of the Trust by encouraging its trustees, officers, employees and consultants to acquire units of the Trust, thereby increasing their proprietary interest in the Trust, encouraging them to remain associated with the Trust and furnishing them with additional incentive in their efforts on behalf of the Trust in the conduct of its affairs.
Each of the matters voted upon at the Meeting are described in greater detail in the Management Information Circular of the Trust dated May 23, 2024, and available at www.sedarplus.com.
About AIP Realty Trust
AIP Realty Trust is a real estate investment trust with a growing portfolio of AllTrades branded Serviced Industrial Business Suites (“SIBS”) light industrial flex facilities focused on small businesses and the trades and services sectors in the U.S. These properties appeal to a diverse range of small space users, such as contractors, skilled trades, suppliers, repair services, last-mile providers, small businesses and assembly and distribution firms. They typically offer attractive fundamentals including low tenant turnover, stable cash flow and low capex intensity, as well as significant growth opportunities. With an initial focus on the Dallas-Fort Worth market, AIP plans to roll out this innovative property offering nationally. AIP holds the exclusive rights to finance the development of and to purchase all the completed and leased properties built across North America by its development and property management partner, AllTrades Industrial Properties, Inc. For more information, please visit www.aiprealtytrust.com.
For further information from the Trust, contact:
Leslie Wulf
Executive Chairman
(214) 679-5263
les.wulf@aiprealtytrust.com
Or
Greg Vorwaller
Chief Executive Officer
(778) 918-8262
Greg.vorwaller@aiprealtytrust.com
Cautionary Statement on Forward-Looking Information
This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of AIP Realty Trust with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding the ability to obtain regulatory and unitholder approvals and other factors. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. Such statements represent the Trust’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Trust, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward- looking statements. These forward-looking statements are made as of the date hereof and are expressly qualified in their entirety by this cautionary statement. The Trust does not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release is not an offer of securities for sale in the United States. The securities may not be offered or sold in the United States absent registration or an exemption from registration under U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”). The Trust has not registered and will not register the securities under the U.S. Securities Act. The Trust does not intend to engage in a public offering of their securities in the United States.
Source: AIP Realty Trust
