CALGARY, AB, March 11, 2022 /CNW/ - Mainstreet Equity Corp.
("Mainstreet" or the "Corporation") (TSX: MEQ) is pleased to
announce the results of the annual and special meeting of
shareholders held on March 10, 2022
(the "Meeting"). The Meeting had a very strong shareholder turnout
with holders of approximately 86% of the issued and outstanding
common shares represented in person or by proxy.
Navjeet (Bob) Dhillon,
Joseph Amantea, Ron Anderson, Karanveer Dhillon, Richard Grimaldi and John Irwin were re-elected to the board of
directors of the Corporation for the upcoming year as follows:
|
Outcome of the
Vote
|
Votes
For
|
%
|
Withheld
|
%
|
|
Navjeet (Bob)
Dhillon
|
Elected
|
6,917,055
|
86.33
|
1,095,675
|
13.67
|
|
Joseph
Amantea
|
Elected
|
7,110,876
|
88.74
|
901,854
|
11.26
|
|
Ron
Anderson
|
Elected
|
7,432,221
|
92.76
|
580,509
|
7.24
|
|
Karanveer
Dhillon
|
Elected
|
7,167,478
|
89.45
|
845,252
|
10.55
|
|
Richard
Grimaldi
|
Elected
|
7,368,354
|
91.96
|
644,376
|
8.04
|
|
John Irwin
|
Elected
|
7,782,671
|
97.13
|
230,059
|
2.87
|
PricewaterhouseCoopers LLP was re-appointed as the Corporation's
auditor.
In addition, the renewal and amendment of the Corporation's
Shareholder Rights Plan was approved with 54.30% in favour and
45.70% against after excluding shares held by Navjeet (Bob) Dhillon, who is considered a
Grandfathered Person for purposes of the Shareholder Rights
Plan.
Details in respect of all of the resolutions approved at the
annual and special meeting of shareholders may be found in the
Management Information Circular prepared in connection with the
meeting dated February 4, 2022, available on SEDAR at
www.sedar.com.
About Mainstreet
Mainstreet is a Calgary-based,
growth-oriented real estate corporation focused on the acquisition,
redevelopment, repositioning, and asset and property management of
quality, affordable mid-market apartments. Since listing on the TSX
in 2000, Mainstreet has grown its portfolio from 1,370 units with
appraised value of $90 million to
15,737 year-to-date units with appraised value of approximately
$2.6 billion with minimal equity
dilution. During Covid, the Corporation has expanded its portfolio,
acquiring $317 million in new assets
and refinanced $618 million (raised
$464 million) in low-cost capital at
an average rate of 2.13%. In 2021, Mainstreet expanded beyond its
core markets of Saskatchewan,
Alberta and BC lower mainland into
Winnipeg, Vancouver Island and
interior BC. Their growth strategy continues. There are currently
9,345,218 common shares outstanding.
(TSX:MEQ)
https://www.mainst.biz
https://www.sedar.com
SOURCE Mainstreet Equity Corporation