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FrontFour & Sandpiper File Proxy Circular, Nominate Three Highly-Qualified, Independent Trustees For Election at Granite's Upcoming AGM
FrontFour & Sandpiper File Proxy Circular, Nominate Three Highly-Qualified, Independen...
About this update from Granite Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nFrontFour & Sandpiper File Proxy Circular, Nominate Three Highly-Qualified, Independent Trustees For Election at Granite's Upcoming AGM\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\nFrontFour & Sandpiper File Proxy Circular, Nominate Three Highly-Qualified, Independent Trustees For Election at Granite's Upcoming AGM\nCanada NewsWire\nTORONTO, May 26, 2017\n\n\n\n\nIssues letter to unitholders outlining rare actionable opportunity and 5-step action plan\nHighlights significant governance concerns with Brydon Cruise, Peter Dey & Wes Voorheis\n\n\n\nTORONTO, May 26, 2017 /CNW/ - FrontFour Capital Group LLC (\"FrontFour\") and Sandpiper Group (\"Sandpiper\"), owners of approximately 6.2% of the outstanding stapled units of Granite Real Estate Investment Trust (\"Granite\") (GRT.UN:TSX, GRP.U:NYSE), announced today that they have filed a dissident proxy circular in respect of the upcoming joint annual general meetings of unitholders of Granite and shareholders of Granite REIT Inc. scheduled for Thursday, June 15, 2017 (the \"AGM\"). Unitholders are urged to read FrontFour and Sandpiper's circular and then vote the BLUE form of proxy FOR FrontFour and Sandpiper's nominees prior to 12:00 p.m. ET on Monday, June 12, 2017. A copy of our proxy circular can be found at the following link: http://www.unlockvalueatgranite.com/.\n\nWe are appreciative of the significant unsolicited support we have received from institutional and individual unitholders to-date. Over the last few days, at the urging of Granite's largest unitholders we have engaged in good faith negotiations with Granite's Board of Trustees (the \"Board\"). During that time, we made numerous attempts to reach a settlement in order to avoid a costly proxy fight, hoping that the Board would not waste significant unitholder capital to entrench themselves further. Unfortunately, the Board ultimately rejected a very reasonable and fair settlement offer proposed by one of Granite's largest unitholders and agreed to by FrontFour and Sandpiper, leaving us no choice but to move forward with our case for...