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Press release from CNW Group

NPR Announces the Election of its Board of Directors

Tuesday, May 14, 2013

NPR Announces the Election of its Board of Directors

18:46 EDT Tuesday, May 14, 2013

CALGARY, May 14, 2013 /CNW/ - Northern Property Real Estate Investment Trust (the "REIT") and NorSerCo Inc. (the "Company"), together (NPR.UN - TSX) announced today the voting results from their annual general meetings of unitholders and shareholders held on Wednesday, May 8, 2013 in Calgary, Alberta.

NORTHERN PROPERTY REIT VOTING RESULTS

A total of 19,470,828 trust units were represented at the meeting, being 60.75% of the REIT's issued and outstanding trust units.  Unitholders voted in favour of all matters brought before the meeting, including the appointment of auditors of the REIT for the ensuing year and the authorization of the trustees to fix the remuneration payable to the auditors and the election of management's nominees as trustees.  Detailed results of the ballot vote for the election of trustees are provided below:

Trustee Nominee Votes For Votes Withheld
Douglas H. Mitchell 16,067,708 (83.59%)   3,153,370 (16.41%)
B. James Britton 19,062,234 (99.17%) 158,844 (0.83%)
Kenn Harper 17,670,451 (91.93%) 1,550,627 (8.07%)
Dennis J. Hoffman 19,176,280 (99.77%) 44,798 (0.23%)
Christine McGinley 19,186,831 (99.82%) 34,247 (0.18%)
Dennis G. Patterson   18,938,306 (98.53%) 282,772 (1.47%)
C. Donald Wilson 19,182,860 (99.80%) 38,218 (0.20%)

NORSERCO INC. VOTING RESULTS

A total of 19,471,328 common shares were represented at the meeting, being 60.75% of the Company's issued and outstanding common shares.  Shareholders voted in favour of all matters brought before the meeting, including the appointment of auditors of the Company for the ensuing year and the authorization of the directors to fix the remuneration payable to the auditors and the election of management's nominees as directors.  Detailed results of the ballot vote for the election of directors are provided below:

Director Nominee Votes For Votes Withheld
Douglas H. Mitchell 16,067,709 (83.59%)   3,153,370 (16.41%)  
B. James Britton 19,063,935 (99.18%) 157,144 (0.82%)
Kevin Grayston 18,007,247 (93.68%) 1,213,832 (6.32%)
Kenn Harper 17,553,634 (91.32%) 1,667,445 (8.68%)
Dennis J. Hoffman 19,176,281 (99.77%) 44,798 (0.23%)
Christine McGinley 19,186,732 (99.82%) 34,247 (0.18%)
Dennis G. Patterson   18,938,307 (98.53%) 282,272 (1.47%)
C. Donald Wilson 19,182,861 (99.80%) 38,218 (0.20%)

About NPR
NPR is primarily a multi-family residential real estate investor, providing a broad spectrum of rental accommodations in Canadian secondary markets with strong economic fundamentals where capitalization rates are somewhat higher and competition somewhat restrained. NPR's residential portfolio is comprised of a multi-family segment: apartments, town homes and single family rental units; and execusuites and hotels, where the rental periods range from a few days to several months. NPR also has a portfolio of commercial buildings focused on government tenancies predominantly located in Canada's far north. Geographically, NPR operates in British Columbia, the Northwest Territories, Alberta, Saskatchewan, Nunavut, Québec and Newfoundland and Labrador. As at March 31, 2013 NPR has 9,743 residential units and 1,076,900 square feet of commercial space.

 

SOURCE: Northern Property Real Estate Investment Trust

For further information:

please contact Mr. B. James Britton, Chief Executive Officer, or Mr. Todd Cook, President and Chief Operating Officer, or Mr. Robert Palmer, Chief Financial Officer, (403) 531-0720

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