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Highlights
- NexPoint Hospitality Trust announces amendments for a unified unitholders' meeting.
- The REIT gains an extension to hold its annual meeting until April 2025.
- Meeting set to address the merger and other key matters by February 2025.
NexPoint Hospitality Trust (TSXV:NHT) operates within the real estate sector, focusing on hospitality properties in North America. Recently, the REIT announced changes to its declaration of trust, aligning with its merger plans and regulatory requirements.
Amendments to the Declaration of Trust
The amendments to NexPoint Hospitality Trust’s declaration of trust were introduced to accommodate the combined annual and special meeting of unitholders. Under the original terms, the REIT was required to hold the annual meeting by December 2024. Delays in finalizing the information circular for the merger transaction prompted these changes. The adjustments allow for an extended timeline to convene the meeting within 15 months of the last annual meeting or as approved by the TSX Venture Exchange.
TSX Venture Exchange Extension
The TSX Venture Exchange granted a three-month extension, pushing the deadline for the annual meeting to April 2025. This extension provides the REIT sufficient time to finalize its plans and set a new meeting date. The REIT expects to hold this combined meeting, addressing annual business and merger considerations, before the end of February 2025.
Merger Transaction and Unitholder Approval
A key focus of the upcoming meeting will be the merger transaction with NexPoint Diversified Real Estate Investment Trust. In line with Section 9.15 of the declaration of trust, amendments required approval from at least two-thirds of the unitholders.
Next Steps
The REIT plans to file an amended notice of meeting shortly, specifying the record date and other details for the upcoming unitholders’ meeting. This approach ensures that all regulatory requirements are met, and unitholders are informed about the agenda, which includes the approval of annual business and the merger transaction.
