Wheeler Real Estate Investment Trust, Inc. Board of Directors Announces New Operating Committee
August 22 2017 - 8:05AM
The management and Board of Directors of Wheeler Real
Estate Investment Trust, Inc. (NASDAQ:WHLR) (“Wheeler” or
the “Company”), a fully-integrated, self-managed commercial real
estate investment company focused on acquiring and managing
income-producing retail properties with a primary focus on
grocery-anchored centers, announced today the formation of a new
committee of the Board of Directors designed to strengthen Board
oversight of the Company’s operations and increase interaction with
management. The Operating Committee will be comprised of three
independent directors and will expire on March 1, 2018. The
committee has authority to retain advisors with approval of the
full Board of Directors. John Sweet will chair the committee
and will be joined by, Jeffrey Zwerdling, the Company’s lead
independent director and John McAuliffe. Wheeler’s Board of
Directors, along with management, remains focused on increasing
shareholder value and believes that this new committee will allow
the Board to provide support in executing the Company’s growth
plan.
Jon S. Wheeler, Chairman and Chief Executive
Officer, stated, “Both management and the Board remain steadfast in
maximizing shareholder value and have continued to drive value
through portfolio operations. The current operating environment has
become increasingly more challenging, and the Board is taking a
proactive approach to ensure that operations are maximized. The
Operating Committee will provide additional tactical support and
increase interaction with management as we look to execute on the
Company’s growth strategy. Our commitment to protect our
shareholders remains at the forefront of that strategy as we look
to evaluate any and all alternatives to enhance long term
shareholder value.”
About Wheeler Real Estate Investment
Trust, Inc.Headquartered in Virginia Beach, VA, Wheeler
Real Estate Investment Trust, Inc. is a fully-integrated,
self-managed commercial real estate investment company focused on
acquiring and managing income-producing retail properties with a
primary focus on grocery-anchored centers. Wheeler’s portfolio
contains well-located, potentially dominant retail properties in
secondary and tertiary markets that generate attractive,
risk-adjusted returns, with a particular emphasis on
grocery-anchored retail centers.
Additional information about Wheeler Real Estate
Investment Trust, Inc. can be found at the Company’s corporate
website: www.whlr.us.
Forward-Looking StatementThis
press release may contain “forward-looking” statements as defined
in the Private Securities Litigation Reform Act of 1995. When the
Company uses words such as “may,” “will,” “intend,” “should,”
“believe,” “expect,” “anticipate,” “project,” “estimate” or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. Forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company’s expectations discussed in the
forward-looking statements. The Company’s expected results may not
be achieved, and actual results may differ materially from
expectations. Specifically, the Company’s statement regarding:
(i)the Company’s ability to implement its growth plan; and (ii) the
Company’s ability to maximize shareholder value are forward-looking
statements. These statements are not guarantees of future
performance and are subject to risks, uncertainties and other
factors, some of which are beyond our control, are difficult to
predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements.
For these reasons, among others, investors are cautioned not to
place undue reliance upon any forward-looking statements in this
press release. Additional factors are discussed in the
Company's filings with the U.S. Securities and Exchange Commission,
which are available for review at www.sec.gov. The Company
undertakes no obligation to publicly revise these forward‐looking
statements to reflect events or circumstances that arise after the
date hereof.
CONTACT:
Wheeler Real Estate Investment Trust, Inc.
Wilkes Graham
Chief Financial Officer
(757) 627-9088
wilkes@whlr.us
Laura Nguyen
Director of Investor Relations
(757) 627-9088
laura@whlr.us
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