Winthrop Realty Trust Grants Ownership Limitation Waiver to Fairholme Capital Management LLC
07 Luglio 2008 - 3:00PM
PR Newswire (US)
BOSTON, July 7 /PRNewswire-FirstCall/ -- Winthrop Realty Trust
(NYSE: FUR), announced today that it has granted a waiver to its
ownership limit provision in its Bylaws to Fairholme Capital
Management LLC ("Fairholme"). The waiver permits Fairholme, in its
individual company capacity as well as on behalf of its investment
advisory clients and affiliates, to acquire, subject to certain
limitations, up to 15% of Winthrop's outstanding shares. Winthrop's
ownership limitation currently restricts any one person from owning
more than 9.8% of its outstanding shares, which provision is common
with real estate investment trusts to ensure compliance with the
rule requiring that not more than five shareholders own more than
50% of the real estate investment trust. As with past waivers,
Winthrop granted the waiver to Fairholme on the condition that
Fairholme's ownership will be limited such that no one individual
(as defined in the Internal Revenue Code) will own more than 9.8%
of Winthrop's shares. In addition, Fairholme's waiver is subject to
additional limitations to ensure compliance by Winthrop with other
real estate investment trust rules. 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 Winthrop's SEC reports. Further
information relating to Winthrop's financial position, results of
operations, and investor information is contained in Winthrop'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, +1-617-570-4614, for Winthrop Realty
Trust Web site: http://www.winthropreit.com/
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