Equity Commonwealth Calls 7.25% Series E Preferred Shares for Redemption
12 Abril 2016 - 5:15PM
Business Wire
Equity Commonwealth (NYSE: EQC) today announced that its Board
of Trustees has called for redemption, on May 15, 2016 (the
“Redemption Date”), all $275 million of its outstanding 7.25%
Series E Cumulative Redeemable Preferred Shares (the “Series E
Preferred Shares”). The Series E Preferred Shares will be redeemed
at a price of $25 per share, plus any accrued and unpaid dividends
(the “Redemption Price”), on May 16, 2016, the first business day
after the Redemption Date.
From the Redemption Date forward, dividends will no longer
accrue and holders will have no rights other than the right to
receive the Redemption Price, without interest, upon surrender of
the Series E Preferred Shares. Upon redemption, the Series E
Preferred Shares will no longer be outstanding and will be delisted
from trading on the New York Stock Exchange on the Redemption
Date.
All Series E Preferred Shares are held in book-entry form
through the Depository Trust Company (“DTC”) and will be redeemed
in accordance with the procedures of DTC. Payment to DTC for the
Series E Preferred Shares will be made by Wells Fargo Shareowner
Services, as redemption agent. The address for the redemption agent
is as follows:
Wells Fargo Shareowner Services1110 Centre Pointe Curve, Suite
101Mendota Heights, MN 55120-41001-855-235-0840
About Equity Commonwealth
Equity Commonwealth (NYSE: EQC) is a Chicago based, internally
managed and self-advised real estate investment trust (REIT) with
commercial office properties throughout the United States. As of
February 17, 2016, EQC’s same-property portfolio comprised 64
properties and 23.5 million square feet.
Forward-Looking Statements
This press release may contain forward-looking statements and
information within the meaning of the federal securities laws,
including with respect to the redemption of the Series E Preferred
Shares. These statements are based on current expectations,
estimates, projections and assumptions made by management. While
Equity Commonwealth management believes the assumptions underlying
its forward-looking statements are reasonable, such information is
inherently subject to uncertainties and may involve certain risks.
Other risks and uncertainties are described under the heading “Risk
Factors” in our Annual Report on Form 10-K and subsequent periodic
reports filed with the Securities and Exchange Commission (SEC) and
available on our website, www.eqcre.com. Many of these
uncertainties and risks are difficult to predict and beyond
management’s control. Forward-looking statements are not guarantees
of future performance, results or events. Equity Commonwealth
assumes no obligation to update or supplement forward-looking
statements that become untrue because of subsequent events.
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Equity CommonwealthSarah Byrnes, (312) 646-2801
Equity Commonwealth (NYSE:EQC)
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