NexPoint Hospitality Trust Amends Declaration of Trust

Canada NewsWire

DALLAS and TORONTO, Dec. 23, 2024

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

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2024/23/c2669.html

Copyright CNW Group 2024 
 

(END) Dow Jones Newswires

December 23, 2024 17:00 ET (22:00 GMT)