Minto Apartment Real Estate Investment Trust Announces Filing and Mailing of the Management Information Circular in Connection with Special Meeting of Unitholders to Approve the Going-Private Transaction with Crestpoint Real Estate Investments Limited Par

Executive Summary

• Minto Apartment REIT filed and mailed its Management Information Circular for a special meeting on March 3, 2026 to seek unitholder approval of a plan of arrangement that will take the REIT private.
• The proposed transaction offers cash consideration of $18.00 per Trust Unit, representing a 32% premium to the last closing price and a 35% premium to the 20‑day VWAP, with an expected close in H2 2026 pending court and regulatory approvals.
• The Board, Special Committee, and voting agreements from major shareholders (including Minto’s 42.7% stake) unanimously recommend that unitholders vote FOR the Arrangement Resolution.

Key Details

• Meeting Information: Virtual‑only meeting at www.virtualshareholdermeeting.com/MI2026 on March 3, 2026, 3:00 p.m. ET; record date = January 20, 2026.
• Consideration: All‑cash payment of $18.00 per Trust Unit (≈ $42.7 million for the 2.37 million units not retained by Minto).
• Premiums:
• 32% above closing price of $13.61 on Jan 2, 2026.
• 35% above 20‑day VWAP as of that date.
• Valuation Support: Independent fairness opinions from Desjardins Securities (fair value $17–$19 per unit) and BMO Nesbitt Burns confirming financial fairness of the cash consideration.
• Board & Committee Recommendations: Both unanimously recommend approval; conflicted trustees abstained.
• Voting Agreements:
• Minto (≈ 42.7% voting interest) entered an irrevocable agreement to vote its units in favour of the transaction and against any competing offers for six months post‑arrangement.
• All REIT trustees and executive officers have signed similar voting agreements.
• Court Order: Interim order granted on Jan 29, 2026 authorizing the REIT to proceed with the meeting and related steps. Final court approval required before closing.
• Closing Conditions: Subject to:
• Approval by at least two‑thirds of votes cast (overall) and a simple majority of non‑retained unitholders.
• Ontario Superior Court final order, Competition Act clearance, CMHC consent, lender consents, and other customary conditions.
• Expected Timeline: Transaction anticipated to close in the second half of 2026 after satisfying all approvals and conditions.

Notable Quotes

(No direct quotes were provided in the release.)