DALLAS and TORONTO, Sept. 29, 2023 /CNW/ — NexPoint Hospitality Trust, (“NHT” or the “REIT“1), (TSX-V: NHT.U) announced today that, in connection with the REIT’s annual and special meeting of unitholders (the “Meeting“), an additional 817,905 units held by Liberty CLO Holdco, Ltd. (through NHT Holdco, LLC) will be excluded from the resolution approving certain amendments to the COVID Loans (as described in the management information circular for the Meeting filed on SEDAR+ on September 21, 2023) pursuant to Multilateral Instrument 61-101– Protection of Minority Security Holders in Special Transactions. As a result, a total of 21,988,443 units will be excluded from voting on the resolution, such units being beneficially owned or controlled, or deemed under applicable law to being beneficially owned or controlled by James Dondero.
After taking into account the additional 817,905 units, Mr. Dondero, together with the persons and entities which are directly or indirectly controlled by him, beneficially owns or exercises control or direction over, 21,988,443 units, representing an approximate 74.91% ownership interest in the REIT (74.39%, assuming conversion of all outstanding Class B units of the REIT’s operating partnership, NHT Operating Partnership, LLC).
The units held by Mr. Dondero are being held for investment purposes and he may, depending on market and other conditions, increase or decrease his beneficial ownership or control of the units whether through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.
This news release is being issued under the early warning provisions of Canadian securities legislation. A copy of the Early Warning Report to be filed by Mr. Dondero in connection with the transactions described above will be available on the REIT’s SEDAR profile at www.sedar.com.
The head office of the REIT is located at 333 Bay Street, Suite 3400, Toronto, Ontario, Canada M5H 2S7. Mr. Dondero’s address is 300 Crescent Court, Suite 700, Dallas, TX 75201.
To obtain a copy of the Early Warning Report filed under National Instrument 62-103, please contact:
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Brian Mitts |
Kristen Thomas |
About NHT
NexPoint Hospitality Trust is a publicly traded real estate investment trust, with its units listed on the TSXV under the ticker NHT.U. NHT is focused on acquiring, owning and operating well-located 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 9 branded properties sponsored by Marriott, Hilton, Hyatt, and Intercontinental Hotels Group, 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 (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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1 In this release, “we,” “us,” “our,” and “NHT” each refer to NexPoint Hospitality Trust.
SOURCE NexPoint Hospitality Trust
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