Equity Commonwealth Sets 2017 Annual Meeting of Shareholders and Increases Share Buyback Authorization
March 15 2017 - 4:15PM
Business Wire
Equity Commonwealth (NYSE: EQC) today announced that its Annual
Meeting of Shareholders will be held on Tuesday, June 20, 2017 at
1:00 p.m. Central Time in Chicago, Illinois. Shareholders of record
at the close of business on April 12, 2017 will be entitled to vote
at the meeting.
The company also announced that its Board of Trustees authorized
the repurchase of an additional $150 million of its outstanding
common shares over the next 12 months. The prior authorization will
expire on March 17, 2017. Since the share repurchase program began
in 2015, the company has repurchased 5,901,975 shares of its common
stock totaling $156.9 million.
Purchases made pursuant to the program will be made from time to
time in the open market, in privately negotiated transactions or in
other manners as permitted by federal securities laws and other
legal requirements. The timing, manner, price and amount of any
repurchases will be determined by the company in its discretion and
will be subject to economic and market conditions, stock price,
applicable legal requirements and other factors. The program may be
suspended or discontinued at any time.
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 15, 2017, EQC’s portfolio comprised 32 properties and 15.5
million square feet.
Forward-Looking Statements
Some of the statements contained in this press release
constitute forward-looking statements within the meaning of the
federal securities laws, including, but not limited to, statements
regarding our plans and expectations with respect to our share
repurchase program. Any forward-looking statements contained in
this press release are intended to be made pursuant to the safe
harbor provisions of Section 21E of the Securities Exchange Act of
1934. Forward-looking statements relate to expectations, beliefs,
projections, future plans and strategies, anticipated events or
trends and similar expressions concerning matters that are not
historical facts. In some cases, you can identify forward-looking
statements by the use of forward-looking terminology such as “may,”
“will,” “should,” “expects,” “intends,” “plans,” “anticipates,”
“believes,” “estimates,” “predicts,” or “potential” or the negative
of these words and phrases or similar words or phrases which are
predictions of or indicate future events or trends and which do not
relate solely to historical matters. 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 about 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 to differ significantly from those
expressed in any forward-looking statement. We do not guarantee
that the transactions and events described will happen as described
(or that they will happen at all).
While forward-looking statements reflect the company’s good
faith beliefs, they are not guarantees of future performance. We
disclaim any obligation to publicly update or revise any
forward-looking statement to reflect changes in underlying
assumptions or factors, of new information, data or methods, future
events or other changes. For a further discussion of these and
other factors that could cause the company’s future results to
differ materially from any forward-looking statements, see the
section entitled “Risk Factors” in the company’s most recent Annual
Report on Form 10-K and in the company’s Quarterly Reports on Form
10-Q for subsequent quarters.
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Investor and Media ContactEquity CommonwealthSarah
Byrnes, (312) 646-2801
Equity Commonwealth (NYSE:EQC)
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