First Capital REIT Sets Date for Requisitioned Unitholder Meeting

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[{"type":"text","content":"\n \n \n \n First Capital REIT Sets Date for Requisitioned Unitholder Meeting\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Dec. 30, 2022\n \n \n /CNW/ - First Capital REIT (\"\n \n First Capital\n \n \" or the \"\n \n REIT\n \n \") (TSX: FCR.UN) announced today that its board of trustees (the \"\n \n Board\n \n \"), in response to a unitholder requisition made by Sandpiper Group and Artis Real Estate Investment Trust (TSX: AX.UN) (together, the \"\n \n Activist\n \n \n Unitholders\n \n \"), has called an annual and special meeting of unitholders (the \"\n \n Meeting\n \n \") to be held on\n \n Tuesday, May 16, 2023\n \n (the \"\n \n Meeting Date\n \n \"). The Meeting will address both normal course matters and matters related to the requisition.\n \n \n The Activist Unitholders are asking First Capital unitholders to vote to remove four current trustees and to replace them with four nominees of the Activist Unitholders.\n \n \n Following receipt of the Activist Unitholders' requisition, the Board reviewed and considered the requisition with its professional advisors. After careful deliberation, and with the interests of all unitholders and stakeholders of the REIT in mind, the Board determined the Meeting Date based on, among others, the following considerations:\n \n \n \n Although First Capital has held its annual meeting in late June in recent years, the REIT has moved up its annual meeting to the Meeting Date in order to hold both meetings at the same time and as promptly as practicable.\n \n \n \n \n Holding both the annual and special meetings at the same time will spare First Capital unitholders the additional distraction and costs associated with holding two separate meetings in quick succession.\n \n \n \n \n The Activist Unitholders have not put forward any compelling reason as to why the Meeting should be held on or prior to\n \n March 1, 2023\n \n , as suggested by the Activist Unitholders.\n \n \n \n \n The Meeting Date selected provides First Capital and its unitholders w...

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