Business & Finance
Business and Finance
Business and Finance
Tue, August 2, 2011 Homburg Canada Real Estate Investment Trust announces governance changes
MONTREAL, Aug. 2, 2011 /CNW/ - Homburg Canada Real Estate Investment Trust ("HCR") (TSX: HCR.UN) today announced changes to the composition of its board of trustees and a change in its executive management structure.
The board of trustees has discontinued the position of Executive Chairman and appointed Karen A. Prentice as the first non-executive Chair of HCR. Homburg Invest Inc., a unitholder of HCR that is entitled to nominate a certain number of trustees in accordance with HCR's declaration of trust, has advised HCR that Richard Homburg is no longer one of its nominees on the board of trustees of HCR and consequently is no longer a trustee. Homburg Invest Inc. currently retains the ability to appoint an additional trustee at any time in accordance with the declaration of trust.
The board would like to thank Mr. Homburg for his service as Executive Chairman and as trustee of HCR.
The board of trustees has appointed Gérard Limoges to the Investment Committee, which will now consist of Wayne Heuff, John Levitt, Gérard Limoges and James Beckerleg, with Mr. Levitt as chair.
About Homburg Canada Real Estate Investment Trust
Homburg Canada Real Estate Investment Trust is an unincorporated open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Quebec. Managed internally, HCR owns a portfolio of Canadian income-producing commercial properties, comprised mainly of retail and office properties with certain industrial properties, as well as certain income-producing multi-family residential properties. The properties comprise approximately 8.0 million square feet of commercial gross leasable area and 1,725 multi-family residential units located in Québec, Atlantic Canada, Western Canada and Ontario.
