TORONTO, May 24, 2018 (GLOBE NEWSWIRE) — European Commercial Real Estate Investment Trust (TSXV:ERE) (“ECREIT” or the “REIT”) is pleased to announce that all resolutions were passed at its annual and special meeting of holders of units and special voting units of the REIT (together, “Units”) that was held today in Toronto, Ontario, Canada.

In addition to the election of each of the nominee trustees discussed in detail below, at the meeting PricewaterhouseCoopers LLP were re-appointed auditors of the REIT and the REIT’s unit option plan was re-adopted.

Election of Trustees

According to proxies received and a vote by show of hands, the five nominees set forth in the management information circular of the REIT dated April 24, 2018 (the “Circular”) were elected as trustees of the REIT to hold office until the close of the next annual meeting of the REIT’s unitholders or until their successors are duly elected or appointed.

The following are the voting results on this matter:

Trustee Number of Units Percentage of Votes Cast
     
Frederic Waks Votes For: 3,508,671 84.75%
  Votes Withheld: 631,212 15.25%
David Ehrlich Votes For: 3,498,227 84.50%
  Votes Withheld: 641,656 15.50%
Jan Arie Breure Votes For: 3,493,271 84.38%
  Votes Withheld: 646,612 15.62%
Ira Gluskin Votes For: 4,120,783 99.54%
  Votes Withheld: 19,100 0.46%
Phillip Burns Votes For: 4,139,883 100.00%
  Votes Withheld: 0 0.00%

Re-Appointment of Auditors

According to proxies received and vote by show of hands, PricewaterhouseCoopers LLP were re-appointed as the REIT’s auditors for the ensuing fiscal year and the trustees were authorized to fix the remuneration to be paid to the auditors.

The following are the voting results on this matter:

  Number of Units Percentage of Votes Cast
     
Votes For: 3,502,291 84.60%
Votes Withheld: 637,592 15.40%

Adoption of Unit Option Plan

According to proxies received and vote by show of hands, the REIT’s rolling unit option plan was re-adopted.

The following are the voting results on this matter:

  Number of Units Percentage of Votes Cast
     
Votes For: 3,760,339 90.83%
Votes Against: 379,544 9.17%

About European Commercial Real Estate Investment Trust

ECREIT is an unincorporated, open-ended real estate investment trust focused on aggregating a bespoke portfolio of high-quality, non-prime core commercial real estate assets in key European markets with strong fundamentals. ECREIT’s strategy is designed primarily to deliver long-term, secure income with additional potential for capital appreciation. ECREIT intends to grow by acquiring additional assets consistent with its strategy and which are expected to be accretive, on a per Unit basis, to its earnings. ECREIT’s units are listed on the TSXV under the symbol ERE.UN. For more information please visit our web site at www.ecreit.com.

For more information please contact: Phillip Burns
Chief Executive Officer
European Commercial Real Estate Investment Trust
Email: phillip.burns@ecreit.com
www.ecreit.com

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