Feldman Mall Properties, Inc. Announces Stock Repurchase Program
12 Novembro 2007 - 7:10PM
PR Newswire (US)
GREAT NECK, N.Y., Nov. 12 /PRNewswire-FirstCall/ -- Feldman Mall
Properties, Inc. (the "Company") (NYSE:FMP) announced today that
its Board of Directors has authorized the repurchase of up to
3,000,000 shares of the Company's issued and outstanding common
stock, par value $0.01 per share. The shares are expected to be
acquired from time to time at prevailing prices through open-market
transactions or through negotiated block purchases, which will be
subject to restrictions related to volume, price, timing, market
conditions and applicable Securities and Exchange Commission rules.
The repurchase program does not require the Company to repurchase
any specific number of shares and may be modified, suspended or
terminated by the Board of Directors at any time without prior
notice. The Company intends to finance repurchases through
available cash, working capital and/or credit facilities. About
Feldman Mall Properties Feldman Mall Properties, Inc. acquires,
renovates and repositions enclosed regional shopping malls. Feldman
Mall Properties Inc.'s investment strategy is to opportunistically
acquire underperforming malls and transform them into physically
attractive and profitable Class A malls through comprehensive
renovation and re-tenanting efforts aimed at increasing shopper
traffic and tenant sales. For more information on Feldman Mall
Properties Inc., visit the Company's website at
http://www.feldmanmall.com/. The Company's portfolio, including
non-owned anchor tenants, consists of seven regional malls
aggregating approximately 7.0 million square feet of which the
Company owns approximately 4.1 million square feet. To receive the
Company's latest news release and other corporate documents, please
contact the Company at (516) 684-1239. All releases and
supplemental data can also be downloaded directly from the Feldman
Mall Properties website at: http://www.feldmanmall.com/.
Forward-looking Information This press release contains
forward-looking statements that involve risks and uncertainties
regarding various matters, including, without limitation, the
success of our business strategy, including our acquisition,
renovation and repositioning plans; our ability to close pending
acquisitions and the timing of those acquisitions; our ability to
obtain required financing; our understanding of our competition;
market trends; our ability to implement our repositioning plans on
time and within our budgets; projected capital and renovation
expenditures; demand for shop space and the success of our lease-up
plans; availability and creditworthiness of current and prospective
tenants; and lease rates and terms. The forward-looking statements
are based on our assumptions and current expectations of future
performance. These assumptions and expectations may be inaccurate
or may change as a result of many possible events or factors, not
all of which are known to us. If there is any inaccuracy or change,
actual results may vary materially from our forward-looking
statements. DATASOURCE: Feldman Mall Properties, Inc. CONTACT:
Thomas E. Wirth, President & Chief Financial Officer, or Larry
Feldman, Chairman, +1-516-684-1239, both of Feldman Mall
Properties, Inc.; or Scott Eckstein of Financial Relations Board,
+1-212-827-3766, , for Feldman Mall Properties, Inc. Web site:
http://www.feldmanmall.com/
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