Arizona Land Income Corporation Knows No Reason for the Recent Increase in Its Stock Price
09 12월 2006 - 5:30AM
Business Wire
Arizona Land Income Corporation (AMEX: AZL) has noticed the recent
run-up in the market price of its common stock and has no
explanation for such increase. Thomas R. Hislop, Chief Executive
Officer and Chairman, notes that AZL is in the midst of a
transaction with an affiliate of The Shidler Group whereby a newly
created subsidiary of AZL would acquire interests in certain office
properties in Honolulu, Phoenix and San Diego and AZL would change
its name to �Pacific Office Properties Trust, Inc.� all on the
terms and subject to the conditions in the Master Formation and
Contribution Agreement dated October 3, 2006, as amended, between
the parties. Mr. Hislop also noted that AZL recently declared a
$1.00 per share nonrecurring dividend in lieu of regular quarterly
dividends for the fourth quarter of 2006 and first quarter of 2007
and in anticipation of a change in the dividend policy of AZL
following the consummation of the transaction contemplated with the
affiliate of The Shidler Group. AZL anticipates that the new
dividend policy may result in a smaller quarterly dividend in the
near future. Material details of this transaction are disclosed in
the company�s recent Current Reports on Form 8-k filed with the
SEC. About Arizona Land Income Corporation Arizona Land Income
Corporation is a real estate investment trust headquartered in
Phoenix, Arizona. It is externally advised by ALI Advisors, Inc.
and currently has a portfolio of real estate and other assets
aggregating approximately $6 million. About The Shidler Group The
Shidler Group is a private long-term investor in commercial real
estate. Over the past 30 years, through its private and public
affiliates, it has acquired, owned and managed more than 2,000
properties containing over 150�million square feet of leaseable
area. Currently, The Shidler Group, through its affiliates, owns
and manages commercial properties in Honolulu, Los Angeles, San
Diego and Phoenix, and maintains offices in Honolulu, San Diego,
Phoenix and New York. The Shidler Group has founded three publicly
traded real estate investment trusts � Corporate Office Properties
Trust (NYSE: OFC), First Industrial Realty Trust (NYSE: FR), and
Tri Net Corporate Realty Trust (formerly, NYSE: TRI, now part of
iStar Financial (NYSE: SFI)). The Shidler Group also founded Primus
Guaranty, Ltd. (NYSE: PRS), a Bermuda-based holding company whose
primary subsidiary, Primus Financial Products, is a $15 billion,
AAA/Aaa rated provider of credit default protection. Additional
Information and Where to Find It This press release does not
constitute a solicitation for votes for the transaction. In
connection with the proposed transaction, AZL expects to file a
proxy statement regarding the proposed transaction with the
Securities and Exchange Commission. Shareholders are urged to read
the proxy statement, because it will contain important information
about AZL and the proposed transaction. At the appropriate time,
shareholders will be able to obtain a free copy of the definitive
proxy statement and other documents filed by AZL with the SEC at
the SEC�s website at www.sec.gov. The definitive proxy statement
and other relevant documents will also be available, free of
charge, from AZL by directing such request to Ms. Deanna Barela at
(602) 952-6821 or dbarela@phsg.com. Shareholders are urged to read
the proxy statement and other relevant material when they become
available before making any voting decisions with respect to the
transaction. AZL and its respective directors and executive
officers may be deemed to be participants in the solicitation of
proxies from the shareholders of AZL in connection with the
transaction. Information about AZL and its directors and executive
officers, and their ownership of AZL common stock, is set forth in
the proxy statement for AZL�s Annual Meeting of Shareholders, which
was filed with the SEC on November 14, 2005. Additional information
regarding the interests of those persons may be obtained by reading
the proxy statement when it becomes available.
Arizona Land (AMEX:AZL)
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부터 11월(11) 2024 으로 12월(12) 2024
Arizona Land (AMEX:AZL)
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부터 12월(12) 2023 으로 12월(12) 2024
Arizona Land Income Corp (아메리카 증권거래소)의 실시간 뉴스: 최근 기사 0
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