Eres Reit Announces Special Meeting of Unitholders

TORONTO, Nov. 06, 2024 (GLOBE NEWSWIRE) -- European Residential Real Estate Investment Trust (“ERES” or the “REIT”) (TSX:ERE.UN) announced today that the board of trustees of the REIT (the “Board”) has called and will hold, virtually on January 7, 2025, a special meeting (the “Meeting”) of Unitholders (as defined below) of record as of November 25, 2024 to consider, and if deemed appropriate, pass a special resolution (“Special Resolution”) to amend the REIT’s fifth amended and restated declaration of trust dated May 2, 2024 (the “Declaration of Trust”) to provide the Board with the authority: (i) to sell all or substantially all of the assets of the REIT in one or more transactions at such times and on such terms and conditions as determined by the Board, (ii) to distribute the net proceeds of any such sales to Unitholders in the amounts and at the times determined by the Board, and (iii) to wind-up, liquidate, dissolve or take any such similar action to terminate the REIT on such terms and conditions determined by the Board, in each case without any requirement for further Unitholder approval (subject to applicable securities laws). Such an amendment would provide the Board with maximum flexibility in assessing the REIT’s alternatives both with respect to its properties as well as regarding the future of the REIT. The amendment does not adversely impact the protections afforded to minority Unitholders under applicable securities laws.

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