/EINPresswire.com/ -- TORONTO, ONTARIO -- (Marketwired) -- 06/01/16 -- RioCan Real Estate Investment Trust ("RioCan") (TSX: REI.UN) today announced the results of the votes held at its June 1, 2016 Annual Meeting of unitholders (the "Meeting").

The total number of units represented by unitholders present in person or by proxy at the Meeting was 195,096,415, representing 60.27% of RioCan's outstanding units.

Each of the nominee Trustees listed in the Trust's Management Information Circular dated April 4, 2016 was elected as a Trustee, without a vote by ballot being conducted. RioCan received proxies with regard to voting on the nine Trustees nominated for election, as set forth in the table below:

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                                        Votes                  Votes
Name of Nominee                           For       %       Withheld       %
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Bonnie Brooks                     177,683,971  91.87%     15,726,943   8.13%
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Clare R. Copeland                 179,820,150  92.97%     13,589,887   7.03%
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Paul Godfrey, C.M., O.Ont.        177,969,395  92.02%     15,435,754   7.98%
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Dale H. Lastman                   168,078,039  86.90%     25,327,452  13.10%
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Jane Marshall                     193,230,025  99.91%        181,013   0.09%
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Sharon Sallows                    181,929,477  94.06%     11,481,561   5.94%
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Edward Sonshine, O.Ont., Q.C.     183,547,358  94.90%      9,863,680   5.10%
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Luc Vanneste                      192,548,614  99.55%        862,424   0.45%
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Charles M. Winograd               191,316,130  98.92%      2,094,908   1.08%
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Appointment of Auditors

Ernst & Young LLP, Chartered Accountants, was reappointed as the auditor of the Trust until the next annual meeting of unitholders by resolution passed by a majority of the unitholders. Management received proxies to vote for the appointment of the auditor (and to authorize the directors to fix their remuneration) as follows:

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              Votes                                 Votes
                For                  %           Withheld                  %
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        194,097,652             99.49%            989,529              0.51%
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Say-On-Pay Non-Binding Advisory Vote

The non-binding say-on-pay vote on the Trust's approach to executive compensation was passed as follows:

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              Votes                                 Votes
                For                  %            Against                  %
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        129,860,245             67.14%         63,555,560             32.86%
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Considering the vote was approved by slightly less than 70% of those that voted, over the coming months the Board of Trustees will engage further with Unitholders to understand any further insights and suggestions as we continue to evolve our compensation practices.

About RioCan

RioCan is Canada's largest real estate investment trust with a total enterprise value of approximately $16 billion as at March 31, 2016. RioCan owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 303 Canadian retail and mixed use properties, including 16 properties under development, containing an aggregate net leasable area of 46 million square feet. For further information, please refer to RioCan's website at www.riocan.com.

Contacts:
RioCan Real Estate Investment Trust
Cynthia J. Devine
Executive Vice President, Chief Financial Officer
and Corporate Secretary
(647) 253-4973
www.riocan.com

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