REIT to Host Unified Meeting for Annual Business and NexPoint Diversified Merger Approval

 

NexPoint Hospitality Trust, known as “NHT” or the “REIT,” has implemented amendments to its Declaration of Trust to facilitate a combined annual and special meeting of its unitholders (the “Unitholders”). The amendments will allow the REIT to align its annual meeting with a special meeting to discuss and approve the proposed merger with NexPoint Diversified Real Estate Investment Trust (the “Merger Transaction”), announced on November 25, 2024.

Addressing Timeline Challenges

The original terms of the Declaration of Trust required the REIT to hold its annual meeting by December 31, 2024. However, due to delays in preparing the information circular for the special meeting, this deadline could not be met.

The amendments now permit the REIT to hold the annual meeting within 15 months of the last meeting or on a later date approved by the TSX Venture Exchange (TSXV). The TSXV has granted a three-month extension, allowing the REIT until April 26, 2025, to convene the meeting.

Unified Meeting Plan

An amended notice of meeting is expected soon, detailing the record date and meeting date for the combined annual and special meeting (the “Meeting”). This Meeting will address the REIT’s annual business, the Merger Transaction, and additional agenda items. The REIT anticipates scheduling the Meeting before February 28, 2025.

Unitholder Approval

The amendments were ratified in compliance with Section 9.15 of the Declaration of Trust, requiring approval from Unitholders holding at least two-thirds of the REIT’s trust units in total.

Strategic Impact

These changes underscore the REIT’s focus on streamlining its governance framework, ensuring compliance with regulatory requirements, and advancing the strategic merger. The upcoming Meeting will be a critical step in shaping the REIT’s trajectory and unlocking future opportunities.

Tags: NexPoint Diversified Real Estate Investment Trust,  NexPoint Hospitality Trust, NHT,  REIT