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 Questions
H&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
Bid
Since 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 REIT
H&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