At a special meeting of Cominar unitholders held earlier today (the "Meeting"), Cominar Unitholders holding Units carrying an aggregate of 137,785,799 votes, representing approximately 75.52% of votes entitled to be cast at the Meeting, were represented in person or by proxy at the Meeting. The resolution relating to the Arrangement was approved by 82.76% of the votes cast by Cominar Unitholders.
"I would like to thank Cominar Unitholders for their support over the years and in relation to the proposed Arrangement," said
The Arrangement remains subject to customary closing conditions, including the approval of the
The REIT expects the transaction to be completed in the first quarter of 2022.
As part of the Arrangement, the distribution for
Information regarding the Arrangement can be found in the management information circular filed by Cominar on
About COMINAR
Cominar is one of the largest diversified real estate investment trusts in
Caution Regarding Forward-Looking Statements
Certain statements made in this news release are forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements with respect to the rationale of the Special Committee and the
Although the REIT believes that the forward-looking statements in this news release are based on information and assumptions that are current, reasonable and complete, these statements are by their nature subject to a number of factors that could cause actual results to differ materially from management's expectations and plans as set forth in such forward-looking statements, including, without limitation, the following factors, many of which are beyond the REIT's control and the effects of which can be difficult to predict: (a) the possibility that the proposed Arrangement will not be completed on the terms and conditions, or on the timing, currently contemplated, and that it may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, required Unitholder, court and regulatory approvals and other conditions of closing necessary to complete the Arrangement or for other reasons; (b) risks related to tax matters, including as regards the amount of ordinary income to be distributed by the REIT; (c) the possibility of adverse reactions or changes in business relationships resulting from the announcement or completion of the Arrangement; (d) risks relating to the REIT's ability to retain and attract key personnel during the interim period; (e) the possibility of litigation relating to the Arrangement; (f) credit, market, currency, operational, liquidity and funding risks generally and relating specifically to the Arrangement, including changes in economic conditions, interest rates or tax rates; (g) business, operational and financial risks and uncertainties relating to the COVID-19 pandemic; and (h) other risks inherent to the REIT's business and/or factors beyond its control which could have a material adverse effect on the REIT or the ability to consummate the Arrangement.
Readers are cautioned not to place undue reliance on the forward-looking statements and information contained in this news release. Cominar disclaims any obligation to update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE
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