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Submission of Matters to a Vote of Security Holders. |
On October 20, 2020,
AIMCO-GP,
Inc. (the “General Partner”), which is a wholly owned subsidiary of Apartment Investment and Management Company (“Aimco”) and the general partner of Aimco’s operating partnership, AIMCO Properties, L.P. (the “Operating Partnership”), commenced a consent solicitation to solicit consents from the limited partners of the Operating Partnership other than any limited partner owned by Aimco (the “Voting Limited Partners”) to the proposed amendments to the Fifth Amended and Restated Agreement of Limited Partnership of AIMCO Properties, L.P., dated as of April 8, 2019 (the “Fifth A&R Partnership Agreement”).
The Voting Limited Partners considered a proposal, which is described in more detail in the Operating Partnership’s Definitive Proxy Statement on Schedule 14A, which was filed with the Securities and Exchange Commission on October 20, 2020. Approval of this proposal required the affirmative consent (the “Required Consent”) of Voting Limited Partners holding more than 50% of all of the units of the Operating Partnership that were issued, outstanding and entitled to vote on the proposal and held by the Voting Limited Partners (the “Voting Units”). On the record date of October 16, 2020, there were 13,173,725.54 Voting Units.
On November 18, 2020, the General Partner received the Required Consent.
By approving the proposal, the Voting Limited Partners authorized proposed amendments to the Fifth A&R Partnership Agreement which, among other things, would, in connection with the previously announced potential
spin-off
transaction (the
“Spin-Off”)
as a result of which the Partnership would no longer be a subsidiary of Aimco but rather of Apartment Income REIT Corp. (“AIR”), replace certain references to the capital stock of Aimco with references to the capital stock of AIR and replace certain references to obligations of Aimco with references to obligations of AIR, including with respect to the exchangeability and redeemability of common limited partnership units of the Partnership and as such terms are used in any partnership unit designation. The final voting results are set forth below:
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11,398,098.44 |
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1,752,415.49 |
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23,211.61 |
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The General Partner does not intend to make the proposed amendments unless and until the
Spin-Off
occurs.
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Financial Statements and Exhibits. |
(d) The following exhibits are furnished with this report:
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Exhibit No. |
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Description |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document). |