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H&R REIT Announces Unitholder Approval of Primaris Spin-Off; Appointment of Rags Davloor as Chief Financial Officer of Primaris REIT; TSX Acceptance of Normal Course Issuer Bid
H&R REIT Announces Unitholder Approval of Primaris Spin-Off; Appointment of Rags Davl...
About this update from H&r Real Estate Investment Trust
[{"type":"text","content":"\n \n \n \n H&R REIT Announces Unitholder Approval of Primaris Spin-Off; Appointment of Rags Davloor as Chief Financial Officer of Primaris REIT; TSX Acceptance of Normal Course Issuer Bid\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n H&R REIT Announces Unitholder Approval of Primaris Spin-Off; Appointment of Rags Davloor as Chief Financial Officer of Primaris REIT; TSX Acceptance of Normal Course Issuer Bid\n \n \n Canada NewsWire\n \n \n \n \n \n \n Expected Closing Date of Spin-Off on or about\n \n December 31, 2021\n \n \n \n \n \n \n TORONTO\n \n ,\n \n Dec. 13, 2021\n \n /CNW/ - H&R Real Estate Investment Trust (\"H&R\" or \"the REIT\") (TSX: HR.UN) today announced that the previously announced spin-off of its Primaris properties including all of its enclosed malls to a new stand-alone, publicly traded real estate investment trust (\"Primaris REIT\"), to be implemented by way of plan of arrangement (the \"Arrangement\"), has received the requisite unitholder approval at H&R's special meeting of unitholders held on\n \n December 13, 2021\n \n (the \"Meeting\").  As a result of the Arrangement (including an expected 4:1 consolidation of Primaris REIT units pursuant to the Arrangement), holders of H&R units will ultimately receive one-quarter of a Series A unit of Primaris REIT (\"Primaris REIT Units\") for every one H&R unit held. Of the votes cast at the Meeting with respect to the Arrangement, an aggregate of 176,170,369 H&R voting units (99.72% of the votes cast) were voted in favour of the special resolution to approve the Arrangement.  In connection with the approval of the Arrangement, H&R unitholders also passed an ordinary resolution approving, on behalf of Primaris REIT and the holders of Primaris REIT Units, the equity-based compensation plans for Primaris REIT. The results of the matters considered at the Meeting will be reported in H&R's Report of Voting Results to be filed on SEDAR (\n \n www.sedar.com\n \n ).\n \n \n The Arrangement forms part of H&R's stra...