Press release from Marketwire
InnVest Real Estate Investment Trust Announces Amendments to Unitholder Rights Plan
Tuesday, May 28, 2013
InnVest Real Estate Investment Trust Announces Amendments to Unitholder Rights Plan17:51 EDT Tuesday, May 28, 2013
TORONTO, ONTARIO--(Marketwired - May 28, 2013) - InnVest Real Estate Investment Trust ("InnVest") (TSX:INN.UN) announced today that, following consultation with an independent proxy voting advisory firm, it has agreed to make certain technical amendments to the definitions of "Beneficial Owner", "controlled" and "Exempt Acquisition" in its unitholder rights plan agreement (the "Rights Plan") in order to ensure that the Rights Plan conforms to current guidelines set by the firm for securityholder rights plans. InnVest understands that, in light of these amendments, the proxy voting advisory firm will be recommending to its clients who hold units of InnVest that they vote in favour of the resolution renewing and amending the Rights Plan.
The renewal and amendment of the Rights Plan (including the amendments described above) is being submitted to unitholders for approval at the upcoming Annual and Special Meeting of InnVest on June 5, 2013. A draft consolidation of the Rights Plan reflecting the proposed amendments will be available on InnVest's website at www.innvestreit.com and will be posted on SEDAR at www.sedar.com.
If the renewal and amendment of the Rights Plan is approved at the Annual and Special Meeting, the amending agreement effecting the proposed amendments will be posted on SEDAR following receipt of final approval from the Toronto Stock Exchange.
InnVest is an unincorporated open-ended real estate investment trust which owns a portfolio of 135 hotels across Canada representing approximately 18,000 guest rooms operated under internationally recognized brands. InnVest also holds a 50% interest in Choice Hotels Canada Inc., one of the largest franchisors of hotels in Canada.
InnVest's units and convertible debentures trade on the Toronto Stock Exchange (the "TSX") under the symbols INN.UN, INN.DB.C, INN.DB.D, INN.DB.E, INN.DB.F and INN.DB.G.
FOR FURTHER INFORMATION PLEASE CONTACT:
InnVest Real Estate Investment Trust
Executive Director, Investor Relations
(905) 206-7114 (FAX)