WPT Industrial Real Estate Investment Trust Announces Results of Voting for Trustees and Amendments to its Declaration of Trust at Annual and Special Meeting of Unitholders
This news release constitutes a “designated news release” for the purposes of the REIT’s prospectus supplement dated September 4, 2020 to its short form base shelf prospectus dated December 5, 2019
TORONTO, June 28, 2021 (GLOBE NEWSWIRE) — WPT Industrial Real Estate Investment Trust (the “REIT”) (TSX: WIR.U; WIR.UN – OTCQX: WPTIF) announced today the results of voting for trustees and resolutions in respect of certain amendments to the amended and restated declaration of trust of the REIT dated April 26, 2013 (the “Declaration of Trust”) at its annual and special meeting of unitholders held earlier today (the “Meeting”).
VOTING RESULTS
Each of the nominees listed in the management information circular dated May 13, 2021 (the “Circular”) was elected as a trustee of the REIT at the Meeting. On a vote conducted by ballot, the voting results were:
| Nominee | # of Votes For | % of Votes For | # of Votes Withheld | % of Votes Withheld |
| Milo D. Arkema | 54,087,898 | 99.33% | 367,263 | 0.67% |
| Lori-Ann Beausoleil | 54,377,867 | 99.86% | 77,294 | 0.14% |
| Louie DiNunzio | 53,951,074 | 99.07% | 504,087 | 0.93% |
| Scott T. Frederiksen | 53,147,464 | 97.60% | 1,307,697 | 2.40% |
| Sarah B. Kavanagh | 53,430,578 | 98.12% | 1,024,583 | 1.88% |
| Stuart H.B. Smith | 53,952,753 | 99.08% | 502,408 | 0.92% |
| Pamela J. Spackman | 54,360,963 | 99.83% | 94,198 | 0.17% |
| Robert T. Wolf | 54,367,128 | 99.84% | 88,033 | 0.16% |
At the Meeting, unitholders also re-appointed KPMG LLP as auditors of the REIT and approved an advisory resolution on the REIT’s approach to executive compensation. In addition, at the Meeting, each of the resolutions in respect of certain proposed amendments to the Declaration of Trust, each as more particularly described in the Circular, was approved. On separate votes conducted by ballot, the voting results were:
| Amendment Resolutions | # of Votes For | % of Votes For | # of Votes Against | % of Votes Against |
| Resolution approving certain housekeeping amendments to the Declaration of Trust, as set forth in Appendix B to the Circular | 35,183,805 | 64.61% | 19,271,356 | 35.39% |
| Resolution approving certain amendments to the Declaration of Trust to increase the applicable threshold for achieving a quorum at a meeting of unitholders, as set forth in Appendix C to the Circular | 54,363,705 | 99.83% | 91,456 | 0.17% |
| Resolution approving certain amendments to the Declaration of Trust to extend to deadline for holding an annual meeting of unitholders, subject to compliance with applicable securities laws and stock exchange rules, as set forth in Appendix D to the Circular | 54,342,406 | 99.79% | 112,755 | 0.21% |
| Resolution approving certain amendments to the Declaration of Trust to revise the advance notice provisions concerning nominations for election to the Board of Trustees, as set forth in Appendix E to the Circular | 54,341,734 | 99.79% | 113,427 | 0.21% |
| Resolution approving certain amendments to the Declaration of Trust to revise the definition of “Gross Book Value”, as set forth in Appendix F to the Circular | 54,312,289 | 99.74% | 142,872 | 0.26% |
| Resolution approving certain amendments to the Declaration of Trust to revise the REIT’s operating policy concerning obtaining phase I environmental site assessments, as set forth in Appendix G to the Circular | 54,340,430 | 99.79% | 114,731 | 0.21% |
Details of the voting results on all matters considered at the Meeting are available in the REIT’s report of voting results, which is available under the REIT’s profile on SEDAR at www.sedar.com.
About WPT Industrial Real Estate Investment Trust
WPT Industrial Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT acquires, develops, manages and owns distribution and logistics properties located in the United States. WPT Industrial, LP (the REIT’s operating subsidiary) indirectly owns or manages a portfolio of properties across 20 U.S. states consisting of approximately 37.5 million square feet of GLA and 109 properties. The REIT pays monthly cash distributions, currently at $0.0633 per Unit, or approximately $0.76 per Unit on an annualized basis, in US funds.
For more information, please contact:
Scott Frederiksen, Chief Executive Officer
WPT Industrial Real Estate Investment Trust
Tel: (952) 897-7737
Fax: (952) 842-7737
www.wptreit.com
