FCPT Unitholders Re-Elect Trustees, Approve Auditor and Rights Plan

Firm Capital Property Trust (TSX: FCD.UN) said Tuesday that unitholders voted to re-elect all trustee nominees at the annual meeting, approved MNP LLP as auditor, and ratified the restricted unit rights plan through June 2029.

About 9.05 million units were represented at the meeting, roughly 24.5% of the outstanding units at the record date. The results will be filed on SEDAR+.

The trust, which owns a portfolio of multi-residential, flex industrial and net-lease convenience retail properties, said the rights-plan approval covers all unallocated awards and authorizes continued grants until the 2029 meeting. The plan, described in the May 4 management circular, is a standard poison-pill structure that dilutes any hostile bidder exceeding a threshold ownership stake.

FCPT trades at a roughly 6.5% distribution yield based on its current unit price, in line with small-cap Canadian REIT peers. The trust has focused on co-ownership structures and partial-interest acquisitions to grow without over-levering the balance sheet, a strategy that kept its debt-to-gross-book-value ratio near 45% at year-end 2025.

Full voting details will be posted on SEDAR+ in the coming days.