Business
Leading Proxy Advisory Firm ISS Recommends Granite REIT Unitholders Vote "FOR" All of FrontFour & Sandpiper's Trustee Nominees on the BLUE Proxy Card
Leading Proxy Advisory Firm ISS Recommends Granite REIT Unitholders Vote "FOR" All of Fron...
About this update from Granite Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nLeading Proxy Advisory Firm ISS Recommends Granite REIT Unitholders Vote \"FOR\" All of FrontFour & Sandpiper's Trustee Nominees on the BLUE Proxy Card\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nLeading Proxy Advisory Firm ISS Recommends Granite REIT Unitholders Vote \"FOR\" All of FrontFour & Sandpiper's Trustee Nominees on the BLUE Proxy Card\nCanada NewsWire\nTORONTO, June 5, 2017\n\n\n\n\nISS Notes FrontFour & Sandpiper's Compelling Case for Change\nISS Recommends Unitholders Vote FOR Al Mawani, Peter Aghar & Samir Manji on the BLUE proxy card\nISS Recommends WITHHOLD vote for G. Wesley Voorheis, Peter Dey and Brydon Cruise\n\n\n\nTORONTO, June 5, 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 leading independent proxy advisory firm, Institutional Shareholder Services Inc. (\"ISS\"), has recommended that Granite unitholders vote FOR the election of all of FrontFour and Sandpiper's highly-qualified nominees, Al Mawani, Peter Aghar and Samir Manji, to Granite's Board of Trustees and the Board of Directors of Granite REIT Inc. (together, the \"Board\") on the BLUE proxy card in connection with Granite's upcoming Annual General Meeting (\"AGM\") on June 15, 2017.\n\nIn addition, ISS has also recommended that unitholders WITHHOLD their vote from current Board members, G. Wesley Voorheis (Chairman), Peter Dey (Vice Chairman) and Brydon Cruise (Compensation Committee Chair). We believe this may be the first time in Canada that ISS has recommended that the Chairman and Vice Chairman of a company be removed in a contested situation, which further highlights and reinforces FrontFour and Sandpiper's thesis and case for change.\n\nOver the last four weeks, in an effort to distract unitholders from the serious governance, compensation and performance concerns at Granite, the Board has made a number of false and m...