Alaris Equity Partners Income Trust (ADUN) Earnings Call Transcript & Summary

Hello, and welcome to the Alaris Equity Partners Income Trust Annual General Meeting 2021. It is now my pleasure to turn today's meeting over to Mike Ervin, Chief Legal Officer and Corporate Secretary of Alaris Equity Partners. The floor is yours.

Thank you. And thank you for joining us today. My name is Mike Ervin. I'm the Chief Legal Officer and Corporate Secretary of Alaris Equity Partners Income Trust. Before we begin the meeting, we would like to provide a quick overview of the Lumi virtual meeting platform. You should now see the agenda on your screen. At the top of the agenda page, there's a legend showing the different icons, you may click on the screen to access different parts of the platform. The voting icon will only be displayed once the polls are opened later in the meeting. The timing will be confirmed by the chairperson of the meeting. I would also refer you to the meeting code of conduct, which is posted on the portal with the other meeting materials. This code of conduct sets out certain procedural matters for the meeting. We will be conducting the meeting in accordance with the terms of this code of conduct as well as the Trust declaration of trust. I will now turn the meeting over to Steve King, who will chair the meeting.

Thanks, Mike. Welcome to the Annual General Meeting of Unitholders of Alaris Equity Partners Income Trust. The meeting will now come to order. My name is Steve King. I'm the President, Chief Executive Officer and a trustee of Alaris. As is our custom, we will conduct the formal business portion of the meeting first. And following the adjournment of the business portion, management will make a short presentation and actually just hold question-and-answer session. Only validated unitholders are permitted to enter the unitholders portal for the meeting, which such validated unitholders may ask questions in the designated question section of the portal. In order to ensure we can answer questions from as many unitholders as possible, we'll be limiting each unitholder to 2 questions. With your approval, I will ask Mike Ervin, Chief Legal Officer and Secretary of the trust, to act as Secretary of the meeting; and Kyle Gould and Raj Ravichandran of Computershare Trust Company to act as scrutineer of this meeting. In order that the meeting covers all of the business for which it was convened within reasonable period of time, we prearranged with a number of persons attending this afternoon to move and second the motions to be put before the meeting. This procedure is not an attempt to discourage participation but merely, a way to expedite proceedings. There will be ample opportunity during the other business portion of the meeting to raise any questions, concerns or comments you may have or during the question-and-answer session following the formal portion. We have received the declaration of Computershare as to the due mailing of the meeting materials to the registered and such other unitholders entitled to receive the same. I direct the copies of the documents mailed to the unitholders be kept by the secretary with the minutes of this meeting. If there is no objection, the reading of the notice of the meeting will be dispensed with. Pursuant to the Trust's declaration of trust, business may be transacted at this meeting, if not less than 2 persons are present in-person, including attending on the web portal, holding or representing by proxy at least 5% of the units entitled to be voted at the meeting. The scrutineer's report has been received, and I am advised that the total representation at the meeting by unitholders present in-person or represented by proxy is 52 unitholders holding 13,348,081 trust units or 29.69% of the units entitled to be voted at the meeting. I declare that there is a quorum of unitholders present at this meeting. I now declare that the meeting is regularly called and properly constituted for the transaction of business. If you are a registered unitholder or a duly appointed proxy holder and have already voted by proxy, your vote has been counted, and there will be no need to vote during this meeting, unless you wish to revoke or change your vote at this time. For those registered unitholders that have not previously submitted their votes or wish to change or revoke their votes, they can vote through the voting field available on the unitholder portal. Following the presentation of the matters to be voted on at the meeting, there will be a time allotment to permit such voting. The first item of business is the presentation to unitholders of the financial statements of the trust for the fiscal year-end December 31, 2020, and auditors report thereon. A copy of the financial statements have been mailed to each registered unitholder, they're requested a copy, and there are copies of the financial statements available to unitholders on the trust's website under the Investors section at www.halarisequitypartners.com. I would now like to present the matters to be voted on at this meeting. Matter 1 is to fix the number of trustees of the trust to be elected at the meeting at 6. Matter 2 is the election of each of John Ripley; E. Mitchell Shier; Mary Ritchie; Stephen King; Robert Bertram and Sophia Langlois as trustees of the trust to hold office until the next annual election of trustees or until their successors are duly elected or appointed, subject to the provisions of the declaration of trust. Matter 3 is the appointment of KPMG LLP as the auditors of the trust. I believe Mr. Driscoll has the motion with regard to the foregoing matters.

I move that the foregoing proposals be put before the meeting for approval.

I second that motion.

It is now 2:36 p.m. Mountain Standard Time, and the voting function is now open on the web portal. As previously mentioned, any registered unitholder who has not voted yet or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Unitholders who have already sent in their proxies or voted via the Internet or telephone and do not want to change their votes, do not need to take any further action. [Voting]

Okay. I hope you're all still with us. Now that every unitholder has had the opportunity to vote. I now declare the polls closed for the meeting. I have now received the scrutineer's report on the voting with respect to the matters to be voted on at the meeting. I'm advised by the scrutineer that each of the matters before the meeting have been approved. And as such, one, the number of trustees for the trust has been fixed at 6; two, each of the nominees for election to the Board have been duly elected to serve as trustees until the next annual election of trustees or until their successor has been duly elected or appointed; and three, KPMG LLP has been appointed as the auditor of the trust. I direct that a copy of the scrutineer's report in respect of the meetings be kept by the secretary with the minutes of this meeting. Particulars of the meeting may be obtained from the secretary of the meeting. Unless there are any questions from the floor, the chair would entertain a motion that this meeting be terminated.

I move this meeting be terminated.

I second that motion.

The motion is approved, and I now declare this meeting terminated. Myself and Darren Driscoll, the Chief Financial Officer of the Trust, will now make ourselves available to take any questions that you may have.

Participants are advised that the responses to any questions may contain forward-looking information and statements as defined under applicable securities laws. Such statements are being made subject to the disclaimers contained in Alaris' annual and quarterly MD&A and other disclosure documents, and you are advised to review such disclaimers in conjunction with such statements. And it doesn't look like we have any questions in the queue. So I think with that, we can just terminate the meeting. Appreciate you all for dialing in and participating.

And if anybody has any questions they want to do offline, we're always available to field any of your calls. Okay. Thank you all very much.