TORONTO, April 03, 2019 (GLOBE NEWSWIRE) -- Dream Hard Asset Alternatives Trust (TSX: DRA.UN) (“Dream Alternatives” or the “Trust”) today announced that it has adopted an Advance Notice Regulation (the “Regulation”), similar to advance notice provisions adopted by a number of other Canadian public investment trusts, requiring advance notice to the Trust for nominations of trustees by unitholders.
The Regulation is intended to facilitate orderly and efficient meetings at which trustees are to be elected and to permit unitholders to register an informed vote by allowing them to receive sufficient information with respect to all trustee nominees within a reasonable timeframe for appropriate deliberation. The Regulation is not intended to discourage trustee nominations.
The Regulation provides unitholders, trustees and management of the Trust with a clear framework for nominating trustees in an orderly and fair manner. The Regulation fixes a deadline by which holders of record of units of the Trust must submit trustee nominations to the Trust prior to any annual or special meeting of unitholders, and sets out the information that a nominating unitholder must include in the notice to the Trust for that notice to be in proper written form in order for any nominee to be eligible for election at any annual or special meeting of unitholders.
In the case of an annual meeting of unitholders, where the Trust uses notice-and-access to deliver applicable proxy-related materials, notice to the Trust must be made not less than 40 days prior to the date of the annual meeting (or 30 days prior to such date if the Trust does not use notice-and-access); provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.
In the case of a special meeting of unitholders (which is not also an annual meeting), notice to the Trust must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made; provided that if the Trust uses notice-and-access to deliver applicable proxy-related materials and such meeting is to be held on a date that is not less than 50 days after the date of first public announcement of the date of such meeting, notice must be made not later than 40 days prior to the date of such special meeting.
The Regulation is effective immediately and will be placed before unitholders for confirmation at the Trust’s annual general meeting of unitholders to be held on June 17, 2019. In order to be deemed timely in accordance with the Regulation, notice of persons to be nominated for election as trustees at the June 17, 2019 meeting must be received by the Trustees of the Trust no later than 5:00 p.m. (Toronto time) on May 17, 2019. A copy of the Regulation has been filed and is available under the Trust’s profile at www.sedar.com.
About Dream Hard Asset Alternatives Trust
Dream Alternatives provides an opportunity for unitholders to invest in hard asset alternative investments, real estate development, real estate lending, real estate, and renewable power managed by an experienced team with a successful track record in these areas. The objectives of Dream Alternatives are to build and maintain a growth-oriented portfolio, provide predictable cash distributions to unitholders on a tax efficient basis, and grow and reposition the portfolio to increase NAV per unit over time. For more information, please visit: www.dreamalternatives.ca.
For further information, please contact:
DREAM HARD ASSET ALTERNATIVES TRUST
| Pauline Alimchandani | Kim Lefever |
| Chief Financial Officer | Director, Investor Relations |
| (416) 365-5992 | (416) 365-6339 |
| palimchandani@dream.ca | klefever@dream.ca |
