Winthrop Realty Trust Exercises Right to Redeem All of Its Outstanding Series A Cumulative Convertible Redeemable Preferred Shar
05 Gennaio 2006 - 11:12PM
PR Newswire (US)
BOSTON, Jan. 5 /PRNewswire-FirstCall/ -- As a result of the closing
price of the common shares of beneficial interest of Winthrop
Realty Trust (NYSE:FUR) being greater than $5.0824 for 20 trading
days within the last 30 trading days including the last day of such
period, Winthrop Realty Trust will redeem all of its outstanding
Series A Cumulative Convertible Redeemable Preferred Shares
(NYSE:FUR-PA). The redemption of the Series A Preferred Shares will
occur on February 7, 2006 and each Series A Preferred Share will be
redeemed for 4.92 common shares of beneficial interest in Winthrop
Realty Trust, with any fractional shares resulting from the
redemption being redeemed for cash. The redemption of the Series A
Preferred Shares for Common Shares will increase the total number
of outstanding Common Shares from 35,581,479 to approximately
40,418,242. In so doing, the annual fixed charge to Winthrop Realty
Trust will be reduced by $2,064,472 on account of the elimination
of the Series A Preferred Share dividend which will be $.05
accretive on a per Common Share basis. Certain statements contained
herein may constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Winthrop Realty Trust to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, among others, risks associated
with the timing of and costs associated with property improvements,
financing commitments and general competitive factors. Further
information about these matters and the risks generally with
respect to Winthrop can be found in Winthrop's filings with the
Securities and Exchange Commission. Winthrop Realty Trust is a
NYSE-listed real estate investment trust (REIT) headquartered in
Boston, Massachusetts. DATASOURCE: Winthrop Realty Trust CONTACT:
Carolyn Tiffany, Chief Operating Officer of Winthrop Realty Trust,
+1-617-570-4614
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