Independent proxy advisory firm ISS recommends that common shareholders vote “FOR” all proposals for special meetings
DGAP-News: Wheeler Real Estate Investment Trust, Inc.
26.10.2021 / 14:18
The issuer is solely responsible for the content of this advertisement.
Wheeler Real Estate Investment Trust, Inc. (the “Company†or “WHLRâ€) (NASDAQ: WHLR) today announced that independent proxy advisory firm, Institutional Shareholder Services (“ISSâ€), has recommended in its report released on October 25, 2021 that the common shareholders of WHLR vote “FOR†all the proposals contained in the definitive proxy statement filed by the company on October 4, 2021 regarding the removal of any cumulative dividend rights from holders of preferred shares Series A and Series B preferred shares of the Company.
WHLR notes that ISS is now the second independent voting advisory firm to recommend that shareholders vote “FOR†all proposals at the company’s special meeting of ordinary shareholders on November 3, 2021, following the recommendation of another leading proxy advisory firm, Glass Lewis, in a report released on October 7, 2021.
In its report released yesterday, the ISS said:[1]
“The company has faced pressure from activist investors over the past few years, which has led to a fully reconstituted board of directors and changes in executive management. The proposed changes to the terms of the preferred shares appear to be one step in the turnaround effort undertaken by the board of directors. ‘
And
” Notwithstanding the opposition of the holder of preferred shares[2], support for each proposal is warranted as the rationale for the proposed amendment appears reasonable given that the elimination of cumulative preferred dividends would improve the financial condition of the company and would not adversely affect the rights of common shareholders.
[1] Authorization to use quotes neither researched nor obtained.
[2] ISS, in its report, refers to Steamboat Capital Partners and its Annex 13D / A filed with the Securities and Exchange Commission on October 14, 2021.
Common shareholders of WHLR are reminded that their vote is important, regardless of the number or number of shares they own. The Board of Directors of the Company recommends that ordinary shareholders vote “FOR†all proposals at the extraordinary meeting of ordinary shareholders of the Company on November 3, 2021.
If you would like copies of the definitive proxy statement filed by Wheeler in connection with the 2021 Special Meeting, if you have questions about any of the proposals, or if you need help voting your shares, please call the company that assists us with this:
Okapi Partners LLC
1212 Avenue des Amériques, 24th floor
New York, New York 10036
+1 (212) 297-0720 (Main)
+ 1 (877) 566-1922 (Toll free)
E-mail: [email protected]
About Wheeler Real Estate Investment Trust, Inc.
Wheeler Real Estate Investment Trust, Inc., headquartered in Virginia Beach, Virginia, is a fully integrated, self-directed commercial real estate investment trust (REIT) that focuses on the ownership and operation of generating commercial properties income, with a primary focus on food centers anchored in grocery stores. . Please visit: www.whlr.us
Forward-looking statements
This press release and related discussions should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and other reports filed with the Securities and Exchange Commission. This press release and related discussions contain forward-looking statements made in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks, uncertainties and assumptions that are difficult to predict. These forward-looking statements include information regarding the plans, objectives, goals, strategies, future events, future income, performance, capital expenditures, financing needs and other information of the Company that is not historical information. These forward-looking statements reflect management’s current expectations regarding future events and results of the Company. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those. expressed or anticipated in forward-looking statements. . In light of these risks and uncertainties, shareholders should not place undue reliance on forward-looking statements as a prediction of actual results. Unless required by law, the Company assumes no obligation to update or revise any forward-looking statement at any time and for any reason.
Contact details
Proxy information
Okapi Partners LLC
+1 877-566-1922
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26.10.2021 Distribution of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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