WINNIPEG, MB, July 7, 2022
/CNW/ - Lanesborough Real Estate Investment Trust ("LREIT")
(TSXV: LRT.UN) announces today that at the meeting of unitholders
held on June 28, 2022, the
unitholders did not approve the ordinary resolution, the full
text of which is included in the management information circular of
LREIT dated June 3, 2022, to
consolidate LREIT's issued and outstanding trust units
("Units") on the basis of a ratio of one post-consolidation
Unit for every 500 pre-consolidation Units, or a different
consolidation ratio (the "Consolidation"). Of the
approximately 115.7 million Units voted at the meeting,
representing 17.01% of the approximately 680.5 million issued and
outstanding Units, 49.53% voted in favour and 50.47% voted against
the Consolidation. Accordingly, LREIT will not be proceeding with
the Consolidation.
ABOUT LREIT
LREIT is a real estate investment trust, which is listed on the
TSX Venture Exchange under the symbol LRT.UN (Trust Units). For
further information on LREIT, please visit our website at
www.lreit.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as the term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Certain statements contained in this press release are
"forward-looking statements" that reflect the expectations of
management regarding the Consolidation. Readers are cautioned not
to place undue reliance on forward-looking information. All
statements other than statements of historical fact contained
herein are forward-looking statements. Forward looking statements
are often, but not always, identified by the use of words such as
"seek", "anticipate", "plan", "continue", "estimate", "expect",
"may", "will", "project", "predict", "potential", "targeting",
"intend", "could", "might", "should", "believe" and similar
expressions. Such forward-looking statements reflect management's
current beliefs and are based on information currently available to
management. Forward looking statements involve significant risks
and uncertainties. A number of factors that could cause actual
results to differ materially from the results discussed in
forward-looking statements are discussed in LREIT's management
discussion and analysis for the three-month period ended
March 31, 2022 available on SEDAR at
www.sedar.com. Although the forward-looking statements contained
herein are based upon what management believes to be reasonable
assumptions, LREIT cannot assure investors that actual results will
be consistent with these forward-looking statements.
The forward-looking statements contained herein are expressly
qualified in their entirety by this cautionary statement.
Forward-looking statements are made as of the date hereof, or such
other date specified in such statements, and neither LREIT nor any
other person assumes any obligation to update or revise such
forward-looking statements to reflect new information, events or
circumstances, except as expressly required by applicable
securities law.
SOURCE Lanesborough Real Estate Investment Trust