Wheeler Real Estate Investment Trust, Inc. Responds to Cedar Realty Trust, Inc.
November 27 2017 - 12:33PM
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 its
response to a public announcement by Cedar Realty Trust, Inc.
(“Cedar”) relating to recent correspondence between Wheeler and
Cedar. On November 22, 2017, Wheeler sent a letter to Cedar’s
Board of Directors suggesting that representatives of Wheeler and
Cedar meet to discuss possible methods to enhance shareholder value
in both companies. On November 27, 2017, Cedar responded to
Wheeler’s correspondence by publicly releasing incorrect
information suggesting that Wheeler offered to purchase
Cedar. In fact, the letter from Wheeler to Cedar’s Board of
Directors was simply a request for a meeting to discuss methods to
enhance shareholder value, including possible acquisition
opportunities. Wheeler’s correspondence did not include an
offer.
As part of its normal operations, both Wheeler
management and its Board of Directors will continue to review
opportunities and strategies designed to increase 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. Specifically, the Company’s statements
regarding opportunities to further enhance shareholder value,
including any related to Cedar, 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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