AR Global’s New York REIT Reschedules Stockholders Meeting Date
AR Global-managed New York REIT Inc. (NYSE: NYRT), a former non-traded real estate investment trust known as American Realty Capital New York Recovery REIT, announced that its 2016 Annual Meeting of Stockholders will be held on December 30, 2016 at a time and location to be determined. Stockholders of record at the close of business on November 10th will be entitled to vote at the annual meeting.
At the meeting, which was previously scheduled for December 19th, shareholders will vote on the election of directors and whether to approve NYRT’s proposed plan of liquidation and dissolution. The REIT terminated its proposed merger with private real estate firm, JBG Companies in August.
In October, New York REIT reached a settlement agreement with Michael Ashner, Steven Witkoff, and their jointly owned entity, WW Investors LLC and agreed to expand its board of directors to include James Hoffmann, Gregory Hughes and Craig Bouchard as new independent directors. The board will now comprise nine directors, as opposed to six, eight of whom are considered independent.
NYRT is a publicly traded real estate investment trust that owns 19 commercial real estate properties, including office and retail properties, located in New York City. Shares of NYRT closed at $9.93 on Friday.
