Winthrop Realty Trust Issues Series C Preferred Shares and Retires Series B-1 Preferred Shares
02 Novembre 2009 - 12:00AM
PR Newswire (US)
BOSTON, Nov. 1 /PRNewswire-FirstCall/ -- Winthrop Realty Trust
(NYSE:FUR) announced today that in connection with its previously
announced offer which permitted holders of its Series B-1
Cumulative Convertible Redeemable Preferred Shares ("Series B-1
Shares") to convert any or all of their Series B-1 Shares into an
equivalent number of its newly issued Series C Cumulative
Convertible Redeemable Preferred Shares ("Series C Shares"),
Winthrop has issued 544,000 Series C Shares and that 544,000 Series
B-1 Shares have been retired. Following the consummation of the
foregoing, Winthrop has 852,000 Series B-1 Shares outstanding,
which have a present conversion price of $22.50, 1.111 common
shares for each Series B-1 Share, and 544,000 Series C Shares which
have a present conversion price of $14.00, 1.786 common shares for
each Series C Share. Due to the number of Series B-1 Shares
outstanding being less than 1,000,000, the right of the holders of
the Series B-1 Shares to elect a trustee to Winthrop's Board of
Trustees has terminated. Accordingly, the term of Bradley Scher,
the trustee elected by the holders of the Series B-1 Shares, has
terminated. Winthrop Realty Trust is a NYSE-listed real estate
investment trust (REIT) headquartered in Boston, Massachusetts.
Additional information on Winthrop Realty Trust is available on its
Web site at http://www.winthropreit.com/. "Safe Harbor" Statement
under the Private Securities Litigation Reform Act of 1995. With
the exception of the historical information contained in this news
release, the matters described herein contain "forward-looking"
statements that involve risk and uncertainties that may
individually or collectively impact the matters herein described.
These are detailed from time to time in the "Risk Factors" section
of the Company's SEC reports. Further information relating to the
Company's financial position, results of operations, and investor
information is contained in the Company's annual and quarterly
reports filed with the SEC and available for download at its
website http://www.winthropreit.com/ or at the SEC website
http://www.sec.gov/. DATASOURCE: Winthrop Realty Trust CONTACT:
Beverly Bergman, Winthrop Realty Trust, Investor or Media
Inquiries, +1-617-570-4614; Web Site: http://www.winthropreit.com/
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