Melcor REIT Announces Unitholder Approval of Plan of Arrangement

EDMONTON, Alberta, April 11, 2025 (GLOBE NEWSWIRE) -- Melcor Real Estate Investment Trust (“Melcor REIT” or the “REIT”) is pleased to announce that at the special meeting of the holders of units (the “Units”) and special voting units (the “SVUs” and together with the Units, the “Voting Units”) of the REIT held today (the “Meeting”), the holders of Voting Units (collectively, the “Voting Unitholders”) overwhelmingly voted in favour of a special resolution to approve the previously-announced plan of arrangement (the “Special Resolution”) pursuant to which, among other things, Melcor Developments Ltd. will acquire its unowned equity interest (approximately 45%) in Melcor REIT Limited Partnership (“REIT LP”) for $5.50 per Class A LP Unit in cash consideration (the “REIT LP Sale”). Melcor’s unowned equity interest in the REIT LP comprises all of the REIT LP’s outstanding Class A LP Units (approximately 13.0 million units). In accordance with the arrangement (the “Arrangement”), the REIT will use the proceeds from the REIT LP Sale to repurchase and cancel all of the REIT’s outstanding Units (the “Arrangement”).

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