UMH Properties, Inc. Renews Share Repurchase Program
02 7월 2009 - 11:03PM
PR Newswire (US)
FREEHOLD, N.J., July 2 /PRNewswire-FirstCall/ -- The Board of
Directors of UMH Properties, Inc. (NYSE Amex: UMH) at its meeting
held on June 23, 2009, renewed its approval of a share repurchase
program that authorizes the Company to purchase up to $10 million
in the aggregate of the Company's common stock. The Board of
Directors initially approved a share repurchase program on June 17,
2008. To date, no shares have been repurchased. The share
repurchase program is intended to be implemented through purchases
made from time to time using a variety of methods, which may
include open market purchases, privately negotiated transactions or
block trades, or by any combination of such methods, in accordance
with applicable insider trading and other securities laws and
regulations. The size, scope and timing of any purchases will be
based on business, market and other conditions and factors,
including price, regulatory and contractual requirements or
consents, and capital availability. The repurchase program does not
require the Company to acquire any particular amount of common
stock, and the program may be suspended, modified or discontinued
at any time at the Company's discretion without prior notice.
Shares of stock repurchased under the program will be held as
treasury shares. UMH, a publicly-owned REIT, owns and operates
twenty-eight manufactured home communities located in New Jersey,
New York, Pennsylvania, Ohio and Tennessee. In addition, the
Company owns a portfolio of REIT securities. DATASOURCE: UMH
Properties, Inc. CONTACT: Susan Jordan of UMH, +1-732-577-9996
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