Connect with us

BUSINESS

Griffin Realty Trust Postpones 2022 Annual Meeting of Stockholders to November 30, 2022

Published

on

[ad_1]

GRT Board of Directors Unanimously Recommends Shareholders Vote FOR All Proposals

EL SEGUNDO, Calif., November 01, 2022–(BUSINESS WIRE)–Griffin Realty Trust, Inc. (“GRT” or the “Company”) today announced the postponement of its 2022 annual meeting of shareholders (“Annual Meeting”) from November 2, 2022 to November 30, November 2022 to allow additional time for shareholder voting and proxy solicitation.

The annual meeting will be held on November 30, 2022 at 9:30 a.m. PT at GRT’s offices located at 1520 E. Grand Avenue, El Segundo, California 90245. There were no changes to the proposals put to the vote at the Annual Meeting.

Among other things, the board is asking shareholders of the company to consider and vote on a proposal to approve the company’s conversion from a Maryland corporation to a Maryland real estate investment trust, to allow the board to pursue a path of liquidity and maximizing value that it considers to be in the best interests of shareholders in a manner that does not result in material adverse tax consequences for shareholders.

Approval of this proposal requires the affirmative vote of a majority of the Company’s outstanding shares. Based on preliminary estimates of the vote count, significantly more shares were voted in favor of the conversion than against. However, at the present time, the number of votes cast in favor of the conversion proposal is not sufficient to approve the conversion. The company has postponed the annual meeting to allow more shareholders to vote for their shares “FOR” the conversion proposal.

The record date for determining shareholders entitled to receive notice and vote at the annual meeting will remain August 25, 2022. Previously submitted proxies will be voted on at the adjourned annual meeting, unless duly revoked, and shareholders who have already submitted a proxy or otherwise voted do not need to take any action at this time.

GRT’s Board of Directors unanimously recommends
shareholders vote “FOR” all proposals put to the vote at the annual meeting.

About Griffin Realty Trust, Inc.

Griffin Realty Trust, Inc. – America’s Blue-Chip Landlord™ – is an unlisted, internally managed, publicly registered REIT. The Company owns and operates a geographically diverse portfolio of strategically located, high quality office and industrial properties that are primarily net leased to single tenants that the Company has determined are creditworthy. The Company’s portfolio, as of November 1, 2022, includes 79 wholly-owned office and industrial properties (89 properties), totaling 21.1 million leasable square feet, located in 24 states, as well as an interest in a joint venture that owns 41 office buildings.

Additional information is available at www.grtreit.com.

Additional information and where to find it

In connection with the Annual Meeting, GRT filed a definitive proxy statement on Schedule 14A on August 29, 2022 with the Securities and Exchange Commission (the “SEC”). The definitive proxy statement was first mailed to GRT shareholders entitled to vote at the annual meeting on or about August 29, 2022. ANNUAL MEETING MATERIALS GRT FILES WITH THE SEC WHEN AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS TO BE CONDUCTED AT THE ANNUAL MEETING. The definitive proxy statement and any other documents filed by GRT with the SEC may be obtained free of charge from the SEC’s website at www.sec.gov or from the “Investors” section of our website at www.grtreit.com or by writing to Griffin Realty Trust, Inc., Attention: Secretary, 1520 E. Grand Avenue, El Segundo, California 90245. GRT and its directors, officers and certain employees may be considered participants the solicitation of proxies from GRT shareholders with respect to the Annual Meeting. Information about the directors and officers of GRT and their ownership of GRT securities is set forth in GRT’s definitive proxy statement for the annual meeting on Schedule 14A filed with the SEC on August 29, 2022. You can obtain free copies of the definitive proxy statement as described in the preceding paragraph.

Caution Regarding Forward-Looking Statements

This press release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as as amended (the “Foreign Exchange Act”). The Company intends that all such forward-looking statements be covered by the safe harbor provisions applicable to forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions regarding matters that are not historical facts. In some cases, you can identify the forward-looking statements using forward-looking words such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, ” believes”, “estimates”, “predicts” or “potential” or the negative form of such words and phrases or similar words or phrases which are predictions or indicate future events or trends and which do not relate solely to matters historical. You can also identify forward-looking statements by discussions of strategy, plans or intentions. The forward-looking statements contained in this press release reflect the Company’s current views regarding future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause the Company’s actual results differ materially from those expressed in any forward-looking statements.

The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: general economic and financial conditions; Market volatility; inflation; any potential recession or threat of recession; interest rate; the impact of the COVID-19 pandemic and resulting economic disruptions on the markets in which we operate and on work-from-home trends, occupancy, rent deferrals and the financial condition of the Company’s tenants ; whether an easing of the pandemic or other factors will impact the attractiveness of industrial and/or office assets; whether we will be successful in renewing the leases when they expire; future financial and operating results, plans, objectives, expectations and intentions; the expected sources of funding and the availability and attractiveness of the terms of such funding; legislative and regulatory changes that could adversely affect our business; whether we will continue to publish our net asset value on an annual basis, more frequently or not at all; our future capital expenditures, operating expenses, net income, operating income, cash flow and real estate industry developments and trends; whether the strategic monetization process will maximize shareholder value; whether the spin-off will be completed on schedule or not at all; whether we will be able to liquidate our remaining assets after the spin-off; whether we will implement the strategic monetization process at a time and in a manner that maximizes value for the Company’s shareholders; when shareholders will receive any net proceeds from the disposal of our remaining assets after the spin-off; whether we will succeed in achieving our investment objectives; whether the combination of the net proceeds from the final sale of your shares of the spin-off company and the distribution of the net proceeds by the Company from the sale of the remaining assets will equal our current net asset value; our ability to find buyers for the remaining assets on terms that our Board of Directors determines are in the best interests of our shareholders; unforeseen difficulties or expenses related to the strategic monetization process or the continued sale of our remaining assets; the response of shareholders, tenants, business partners and competitors to the announcement of the strategic monetization process; legal actions that may be brought against us and others related to the strategic monetization process; risks associated with our reliance on key personnel whose continued service is not guaranteed; risks relating to the disruption of management’s attention to ongoing business operations due to the continued strategic monetization process; other factors, including the risks disclosed in Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” from the Company’s most recent Annual Report on Form 10-K and Part I, Item 2. “Management’s Discussion and Analysis of Financial Statement and Results of Operations” and Part II, Item 1A. “Risk Factors” of the Company’s Quarterly Reports on Form 10-Q filed with the United States Securities and Exchange Commission. The Company cautions investors not to place undue reliance on these forward-looking statements and urges you to carefully review the information provided regarding the risks. Although forward-looking statements reflect the company’s good faith beliefs, assumptions and expectations, they are not guarantees of future performance. Forward-looking statements speak only as of the date of this press release. Further, the Company disclaims any obligation to publicly update or revise any forward-looking statements to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20221101006048/en/

contacts

Joele Frank, Wilkinson Brimmer Katcher
Meaghan Repko / Kara Sperry
212.355.4449

[ad_2]

Trending