Business
Ravelin Properties REIT Unitholders and Debentureholders Approve Plan of Arrangement with Clarke Inc.
Toronto, Ontario--(Newsfile Corp. - May 25, 2026) - Ravelin Properties REIT (TSX: RPR.UN) (the "REIT") is pleased to announce that the holders (the "REIT Unitholders") of units of the REIT and the holders (the "REIT Debentureholders") of the REIT's outstanding 9.00% convertible unsecured subordinated debentures, 5.50% convertible unsecured subordinated debentures and 7.50% convertible unsecured subordinated debentures (collectively, the "REIT Debentures") have approved the proposed plan of...
About this update from Ravelin Properties Reit
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - May 25, 2026) - Ravelin Properties REIT (TSX: RPR.UN) (the "REIT") is pleased to announce that the holders (the "REIT Unitholders") of units of the REIT and the holders (the "REIT Debentureholders") of the REIT's outstanding 9.00% convertible unsecured subordinated debentures, 5.50% convertible unsecured subordinated debentures and 7.50% convertible unsecured subordinated debentures (collectively, the "REIT Debentures") have approved the proposed plan of arrangement (the "Arrangement") with Clarke Inc. ("Clarke") at the special meeting of REIT Unitholders (the "REIT Unitholder Meeting") and at the special meeting of REIT Debentureholders (the "REIT Debentureholder Meeting") held earlier today.","length":822,"tagName":"p"},{"type":"text","content":"At the REIT Unitholder Meeting, a special resolution approving the Arrangement was approved by 68.69% of the votes cast by REIT Unitholders present in person or represented by proxy at the REIT Unitholder Meeting. At the REIT Debentureholder Meeting, a special resolution approving the Arrangement was approved by holders of 98.20% of the aggregate principal amount of REIT Debentures present in person or represented by proxy at the REIT Debentureholder Meeting.","length":463,"tagName":"p"},{"type":"text","content":"The resolutions approving the Arrangement required the approval of at least (i) two-thirds (66 ⅔%) of the votes cast by the REIT Unitholders present in person or represented by proxy at the REIT Unitholder Meeting, and (ii) two-thirds (66 ⅔%) of the aggregate principal amount of REIT Debentures present in person or represented by proxy at the REIT Debentureholder Meeting, respectively.","length":388,"tagName":"p"},{"type":"text","content":"Additional details of the voting results will be included in a report of voting results filed on SEDAR+ (www.sedarplus.ca) under the REIT's issuer profile.","length":159,"tagName":"p"},{"type":"text","content":"The Arrangement is expected to become effective on or about May 29, 2026 (the "Effective Date"), subject to, among other things, the REIT obtaining a final order (the "Final Order") from the Ontario Superior Court of Justice (Commercial List) (the "Court") approving the Arrangement, ...