TORONTO, April 10, 2013 (GLOBE NEWSWIRE) -- Atrium Mortgage Investment Corporation (TSX:AI) today announced that at its annual and special meeting of shareholders, held in Toronto earlier today, each of the director nominees listed in its management information circular dated March 7, 2013 were elected as directors of Atrium. Directors have been elected to serve until the close of the next annual meeting of shareholders. The detailed results of the vote for the election of directors of Atrium is set out below.
Each of the following seven director nominees proposed by management was elected as a director of Atrium:
|Nominee||Votes for*||% votes for||Votes withheld||% votes withheld|
|Peter P. Cohos||8,606,528||100.0%||0||0%|
|Michael J. Cooper||8,553,728||99.4%||52,800||0.6%|
|Robert H. DeGasperis||4,838,728||56.2%||3,767,800||43.8%|
|Murray B. Frum||8,552,728||99.4%||54,000||0.6%|
|Robert G. Goodall||8,606,528||100.0%||0||0%|
|David M. Prussky||8,401,328||97.6%||205,200||2.4%|
|Mark L. Silver||8,555,778||99.4%||50,750||0.6%|
|* As a vote for each motion was taken by a show of hands, the number of votes disclosed reflects only those proxies received by management in advance of the meeting.|
Atrium is a non-bank provider of residential and commercial real estate finance. Atrium lends primarily in major urban centres in Canada where the stability and liquidity of real estate are at the highest levels. Canadian Mortgage Capital Corporation (CMCC) is responsible for originating, underwriting, servicing and syndicating Atrium's mortgage loans. CMCC has been Atrium's exclusive manager since its formation and has grown Atrium's business to a mortgage portfolio of approximately $220 million. CMCC has been in the business of originating and underwriting mortgage loans for over 18 years and servicing mortgage loans for over 13 years.
Atrium is a mortgage investment corporation as defined in Section 130.1(6) of the Income Tax Act (Canada). Accordingly, the company is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the company had been made directly by the shareholder. For further information, please refer to Atrium's 2012 Annual Report and other documents available at www.sedar.com and at www.atriummic.com.
CONTACT: Atrium Mortgage Investment Corporation Robert G. Goodall President and Chief Executive Officer Atrium Mortgage Investment Corporation Jeffrey D. Sherman Chief Financial Officer (416) 607-4200 email@example.com www.atriummic.comSource:Atrium Mortgage Investment Corporation