NEW YORK, Nov. 14, 2017 /PRNewswire/ -- New York REIT,
Inc. (NYSE: NYRT) (the "Company" or "NYRT"), which is liquidating
and winding down pursuant to a plan of liquidation, today clarified
the date on which the Company's common stock, par value
$0.01 per share (the "Shares"), will
trade ex-dividend of the previously announced cash liquidating
distribution of $2.07 per
share. As previously announced, the cash liquidating
distribution will be payable on November 28,
2017 to shareholders of record on November 20, 2017.
Investors should note that the ex-dividend date is set by the
NYSE. Under the rules of the NYSE, when a distribution is
declared in a per share amount that exceeds 25% of a company's
stock price, the date on which that company's shares will begin to
trade without the dividend, or ex-dividend, is the first business
day following the payment date. Accordingly, the NYSE has
informed the Company that it has set an ex-dividend date for the
cash liquidating distribution of November
29, 2017. Consequently, if a shareholder as of the
record date sells shares at any time prior to the ex-dividend date
of November 29, 2017, they will not
receive the cash liquidating distribution.
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About NYRT
NYRT is a publicly traded real estate investment trust listed on
the NYSE that owns income-producing commercial real estate,
including office and retail properties, located in New York City. NYRT's shareholders recently
adopted a plan of liquidation pursuant to which NYRT is liquidating
and winding down and, in connection therewith, is seeking to sell
its assets in an orderly fashion to maximize shareholder value. For
more information, please visit our website
at www.nyrt.com.
Forward-Looking Statements
The statements in this release that are not historical facts may
be forward-looking statements. These forward-looking statements
involve substantial risks and uncertainties. Actual results or
events could differ materially from the plans, intentions and
expectations disclosed in the forward-looking statements the
Company makes. Forward-looking statements may include, but are not
limited to, statements regarding stockholder liquidity and
investment value and returns. The words "anticipates," "believes,"
"expects," "estimates," "projects," "plans," "intends," "may,"
"will," "would," and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Factors that
might cause such differences include, but are not limited to: the
purchaser consummating the transactions contemplated by the
purchase agreement; and other factors, many of which are beyond the
Company's control, including other factors included in the
Company's reports filed with the Securities and Exchange Commission
("SEC"), particularly in the "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" sections of the Company's latest Annual Report on Form
10-K for the year ended December 31,
2016, filed with the SEC on March 1,
2017 and the Company's Quarterly Report on Form 10-Q for the
quarter ended September 30, 2017
filed with the SEC on November 9,
2017, as such Risk Factors may be updated from time to time
in subsequent reports. The Company does not assume any obligation
to update any forward-looking statements, whether as a result of
new information, future events or otherwise, except as required by
law.
Contacts
Wendy Silverstein, Chief
Executive Officer
New York REIT, Inc.
wsilverstein@nyrt.com
(617) 570-4750
John Garilli, Chief Financial
Officer
New York REIT, Inc.
jgarilli@nyrt.com
(617) 570-4750
Jonathan
Keehner
Mahmoud
Siddig
Joele Frank, Wilkinson Brimmer
Katcher
jkeehner@joelefrank.com
msiddig@joelefrank.com
(212)
355-4449
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SOURCE New York REIT, Inc.