DALLAS and TORONTO, Dec. 23,
2024 /CNW/ -- NexPoint Hospitality Trust
("NHT" or the "REIT"1), (TSX-V: NHT.U)
announced today amendments (the "Amendments") to its amended
and restated declaration of trust (the "Declaration of
Trust") to allow the REIT to hold its annual meeting of
unitholders (the "Unitholders") together with the special
meeting of Unitholders that will be called to consider the approval
of the merger transaction announced on November 25, 2024 with NexPoint Diversified Real
Estate Investment Trust (the "Merger Transaction").
Under the current terms of the Declaration of Trust, the REIT is
required to hold its annual meeting of Unitholders by December 31, 2024 but will not meet that date due
to delays in finalizing the information circular for the Unitholder
meeting to be held to consider approval of the Merger Transaction.
The Amendments will allow the REIT to hold its annual meeting on a
date not more than 15 months after the last preceding annual
meeting of Unitholders or on such later date as may be approved by
the TSX Venture Exchange (the "TSXV"). The TSXV has granted
the REIT a three-month extension until April
26, 2025 to hold the annual meeting. The REIT intends to
file an amended notice of meeting shortly to set the record date
and meeting date for an annual and special meeting of Unitholders
to consider approval of the REIT's annual business as well as the
Merger Transaction and certain other matters (the "Meeting")
and expects to hold the Meeting prior to February 28, 2025. In accordance with Section
9.15 of the Declaration of Trust, the Amendments were approved by
Unitholders, holding, in aggregate, at least two-thirds of trust
units of the REIT.
About NHT
NexPoint Hospitality Trust is a publicly traded real estate
investment trust, with its Units listed on the TSX Venture
Exchange under the ticker NHT.U. NHT is focused on acquiring,
owning and operating well-located real estate assets including, but
not limited to, investments in life science and semiconductor
manufacturing properties, but mainly focusing on hospitality
properties in the United States
that offer a high current yield and in many cases are
underperforming assets with the potential to increase in value
through investments in capital improvements, a market-based
recovery, brand repositioning, revenue enhancements, operational
improvements, expense inefficiencies, and exploiting excess land or
underutilized space. NHT owns 7 properties that are sponsored
by Marriott, Hilton and Hyatt or are independently operated located
across the U.S. NHT is externally advised by NexPoint Real Estate
Advisors VI, L.P.
Neither TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
Contact:
Jesse Blair III
Executive Vice President, Head of Lodging
(833) 697–7523
Investor Relations
IR@nexpoint.com
Media Inquiries
MediaRelations@nexpoint.com
1 In this release, "we," "us," "our," "NHT," and the
"REIT," each refer to NexPoint Hospitality Trust.
SOURCE NexPoint Hospitality Trust
