Winthrop Realty Trust Announces Share Repurchase Plan
September 25 2008 - 5:00PM
PR Newswire (US)
BOSTON, Sept. 25 /PRNewswire-FirstCall/ -- Winthrop Realty Trust
(NYSE: FUR) today announced that its Board of Trustees has approved
a share repurchase plan pursuant to which the Company will be
permitted to repurchase up to 5,000,000 of its outstanding common
shares. As of August 31, 2008, the Company had approximately
97,792,196 common shares outstanding on a fully diluted basis. "The
decision to implement a share repurchase plan reflects the
confidence of both management and our board of trustees in the
Company's continued business strength," said Michael L. Ashner,
Chairman and CEO of Winthrop. "We believe that the purchase of our
own shares is a solid investment in the Company and will add to
shareholder value." The purchases of common shares will be executed
periodically as market and business conditions warrant on the open
market, in negotiated or block trades, or under a 10b5-1 plan,
which would permit shares to be repurchased when the Company might
otherwise be precluded from doing so under insider trading laws.
The share repurchase plan does not obligate the Company to
repurchase any dollar amount or number of common shares, and the
timing and amount of any shares repurchased under the plan will
depend on market conditions, share price, corporate and regulatory
requirements, capital availability and other factors, such as
financial covenants and rating considerations. The share repurchase
plan does not have an expiration date and may be limited or
terminated at any time by the Board of Trustees without prior
notice. 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 the Company's Annual Report of Form 10-K/A for the year ended
December 31, 2007, as may be updated or supplemented in the
Company's Form 10-Q filings which discuss the factors that could
adversely affect the Company's results. Further information
relating to the Company's financial position, results of
operations, and investor information is also contained in the
Company's reports filed with the SEC, which reports are available
for download at our website http://www.winthropreit.com/ or at the
SEC website http://www.sec.gov/. DATASOURCE: Winthrop Realty Trust
CONTACT: Beverly Bergman of Winthrop Realty Trust, +1-617-570-4614
Web Site: http://www.winthropreit.com/
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