Artis REIT, RFA Capital receive approval for merger

Executive Summary

• Artis Real Estate Investment Trust unitholders and RFA Capital Holdings Inc. shareholders have approved the previously announced plan of arrangement, under which RFA will acquire all outstanding units of Artis.
• Upon completion, RFA will change its name to RFA Financial Inc.
• The transaction remains subject to final court approval and the satisfaction or waiver of customary closing conditions.

Key Details

• Voting Results (Artis):
  • Common unitholders: 98.77% of votes cast approved (exceeding the required 66-2/3% majority).
  • Series E preferred unitholders: 81.19% of votes cast approved (exceeding the required 66-2/3% majority).
  • Series I preferred unitholders: 94.84% of votes cast approved (exceeding the required 66-2/3% majority).
• Voting Results (RFA):
  • Shareholders: 100% of votes cast approved the arrangement (exceeding the required 66-2/3% majority).
  • Shareholders (excluding interested parties): 100% of votes cast approved (exceeding the required simple majority >50%).
• Director Elections: Ben Rodney, Samir Manji, Lis Wigmore, Steven Joyce, Jeffrey Royer, Mike Shaikh, Heather-Anne Irwin, Jacqueline Moss, and Richard Bradlow were elected as directors of the resulting issuer by 100% of votes cast.
• Equity Incentive Plan: Artis common unitholders approved the equity incentive plan for the resulting issuer.
• Closing Conditions: The arrangement is subject to final court approval and satisfaction/waiver of other customary closing conditions.

Notable Quotes

• None provided in the text.