American Land Lease, Inc. Announces Special Meeting of Common Stockholders to Approve Sale to Green Courte
February 24 2009 - 4:01PM
Business Wire
American Land Lease, Inc. (�ANL�) today announced that a record
date and a special meeting date have been established for ANL�s
common stockholders to consider and vote on the proposal to adopt
the previously announced agreement and plan of merger with, among
others, an affiliate of Green Courte Partners, LLC, a Chicago-based
private equity investment firm (such affiliate, �Green Courte
Partners�), and approval of the merger of Green Courte Partners and
ANL.
ANL common stockholders of record as of the close of business on
February 23, 2009 are entitled to notice of the special meeting and
to vote on the adoption of the merger agreement and approval of the
merger. The special meeting is scheduled to be held on Monday,
March 16, 2009 at 9:00 a.m., Chicago time. The definitive proxy
statement for the special meeting has been filed with the
Securities and Exchange Commission (�SEC�) and is first being
mailed to stockholders on February 24, 2009. As a result of the
consummation of the previously announced cash tender offer by Green
Courte Partners for shares of ANL�s common stock, Green Courte
Partners owns and has the right to vote a sufficient number of
outstanding shares such that approval of the merger at the special
meeting is assured without the affirmative vote of any other
stockholder. The merger is expected to close promptly following the
special meeting.
ANL also announced today that it has provided written notice to
the New York Stock Exchange (the �NYSE�) of its intent to
voluntarily delist its 7.75% Series A Cumulative Redeemable
Preferred Stock (the �Series A Preferred Stock�) from the NYSE,
effective March 16, 2009. ANL intends to effect the delisting by
filing a Form 25 with the SEC on or about March 6, 2009. ANL
intends to terminate its registration and reporting obligations
under the Securities Exchange Act of 1934, as amended (the
�Exchange Act�), by filing a Form 15 with the SEC promptly
following the completion of the merger to deregister and terminate
its reporting obligations with respect to its common stock and
Series A Preferred Stock under the Exchange Act.
About ANL
American Land Lease, Inc. is a Clearwater, Florida-based real
estate investment trust that owns, develops and manages residential
land lease communities primarily serving active adults. With over
10,000 home sites in 30 communities located primarily in Florida,
Arizona and Alabama, ANL is committed to providing affordable,
free-spirited retirement living for active adults. For more
information, visit www.americanlandlease.com.
Forward-looking statements
This press release includes certain forward-looking statements.
Any such forward-looking statements may involve risk and
uncertainties. These forward-looking statements appear throughout
the press release and include statements regarding the intent,
belief or current expectations of American Land Lease, Inc.,
including statements concerning American Land Lease, Inc.�s
expectation regarding the closing of the merger and its intent to
delist its preferred stock from the NYSE and deregister its common
stock and Series A Preferred Stock with the SEC. Such
forward-looking statements are not guarantees of future performance
or events and involve risks and uncertainties. Actual results may
differ materially from those described in such forward-looking
statements as a result of various factors. Many of the factors that
will determine the outcome of the subject matter of this press
release are beyond the ability of American Land Lease, Inc. to
control or predict. American Land Lease, Inc. has no obligation to
revise or update any forward-looking statements, or to make any
other forward-looking statements, whether as a result of new
information, future events or otherwise.
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