HOUSTON, July 18,
2023 /PRNewswire/ -- As previously announced by
the Company on July 17, 2023, the
Board of Directors of the Company has authorized the Company to
proceed with the implementation of a holding company
reorganization, which will involve the incorporation of a new
holding company that will become the new parent company of the
Company and will replace the Company as the public company trading
on the New York Stock Exchange. The Company has determined
that the name of the above-referenced holding company will be
"Howard Hughes Holdings Inc." The Company will continue to
trade under the symbol "HHC" until and on the effective date of the
reorganization, which is Friday, August
11, 2023. Commencing on Monday,
August 14, 2023, the new holding company will trade under
the ticker symbol "HHH".
About The Howard Hughes Corporation®
The
Howard Hughes Corporation owns, manages, and develops commercial,
residential, and mixed-use real estate throughout the U.S. Its
award-winning assets include the country's preeminent portfolio of
master planned communities, as well as operating properties and
development opportunities including: the Seaport in New York City; Downtown Columbia®, Maryland; The
Woodlands®, Bridgeland® and The
Woodlands Hills® in the Greater Houston, Texas area;
Summerlin®, Las Vegas;
Ward Village® in
Honolulu, Hawaiʻi; and Teravalis™
in the Greater Phoenix, Arizona
area. The Howard Hughes Corporation's portfolio is strategically
positioned to meet and accelerate development based on market
demand, resulting in one of the strongest real estate platforms in
the country. Dedicated to innovative placemaking, the Company is
recognized for its ongoing commitment to design excellence and to
the cultural life of its communities. The Howard Hughes Corporation
is traded on the New York Stock Exchange as HHC. For additional
information visit www.howardhughes.com.
Safe Harbor Statement
Statements made in this press
release that are not historical facts, including statements
accompanied by words such as "will," "believe," "expect,"
"enables," "realize," "plan," "intend," "assume," "transform" and
other words of similar expression, are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are based on management's expectations,
estimates, assumptions, and projections as of the date of this
release and are not guarantees of future performance. Actual
results may differ materially from those expressed or implied in
these statements. Factors that could cause actual results to differ
materially are set forth as risk factors in The Howard Hughes
Corporation's filings with the Securities and Exchange Commission,
including its Quarterly and Annual Reports. The Howard Hughes
Corporation cautions you not to place undue reliance on the
forward-looking statements contained in this release. The Howard
Hughes Corporation does not undertake any obligation to publicly
update or revise any forward-looking statements to reflect future
events, information or circumstances that arise after the date of
this release.
Media Contact
Cristina
Carlson, 646-822-6910
SVP, Head of Corporate Communications
cristina.carlson@howardhughes.com
Investor Relations
Eric
Holcomb, 281-475-2144
SVP, Investor Relations
eric.holcomb@howardhughes.com
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SOURCE The Howard Hughes Corporation