DALLAS, July 8, 2016 /PRNewswire/ -- Ashford
Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the
"Company") announced today that it intends to redeem all of its
issued and outstanding shares of 9.00% Series E Cumulative
Preferred Stock (the "Series E Preferred Stock") (CUSIP No. 044103
505). All shares of Series E Preferred Stock will be redeemed
in accordance with the applicable procedures of the Depository
Trust Company. The redemption of the Series E Preferred Stock
is conditioned upon the closing by the Company of its previously
announced offering of Series F Cumulative Preferred Stock.
The redemption date will be August
8, 2016. The shares of Series E Preferred Stock will
be redeemed at a redemption price of $25.00 per share, plus accrued and unpaid
dividends to, but not including, the redemption date, in an amount
equal to $0.23125 per share, for a
total redemption price of $25.23125
per share. The redemption price for the Series E Preferred
Stock will be payable in cash, without interest, as soon as
practicable after the redemption date. Dividends on shares of
Series E Preferred Stock will cease to accrue on the day prior to
the redemption date, such shares shall no longer be deemed
outstanding and all rights of the holders in respect of such shares
will terminate, except for the right to receive the redemption
price, without interest thereon. Because the redemption of the
Series E Preferred Stock is a redemption in full, trading of the
Series E Preferred Stock on the NYSE will cease after the
redemption date.
As specified in the notice of redemption, payment of the
applicable redemption price will result from the Series E Preferred
Stock being debited from such holder's book-entry account with the
Company's transfer agent and pursuant to applicable procedures of
the Depository Trust Company on or after the redemption date. The
Company's transfer agent is Computershare Trust Company, N.A.,
attention: Corporate Actions, at 250 Royall Street, Canton, MA 02021. Questions regarding the
redemption of the Series E Preferred Stock, or the procedures
therefore, may be directed to Computershare Trust Company, N.A. at
800.546.5141.
Ashford Hospitality Trust is a real estate investment trust
(REIT) focused on investing opportunistically in the hospitality
industry in upper upscale, full-service hotels.
Follow Chairman and CEO Monty
Bennett on Twitter at www.twitter.com/MBennettAshford or
@MBennettAshford.
Ashford has created an Ashford App for the hospitality REIT
investor community. The Ashford App is available for free download
at Apple's App Store and the Google
Play Store by searching "Ashford."
Certain statements and assumptions in this press release
contain or are based upon "forward-looking" information and are
being made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and
uncertainties. When we use the words "will likely result,"
"may," "anticipate," "estimate," "should," "expect," "believe,"
"intend," or similar expressions, we intend to identify
forward-looking statements. Such statements are subject to
numerous assumptions and uncertainties, many of which are outside
Ashford Trust's control.
These forward-looking statements are subject to known and
unknown risks and uncertainties, which could cause actual results
to differ materially from those anticipated, including, without
limitation: general volatility of the capital markets and the
market price of our common stock; changes in our business or
investment strategy; availability, terms and deployment of capital;
availability of qualified personnel; changes in our industry and
the market in which we operate, interest rates or the general
economy; and the degree and nature of our competition. These
and other risk factors are more fully discussed in Ashford Trust's
filings with the Securities and Exchange Commission.
The forward-looking statements included in this press release
are only made as of the date of this press release. Investors
should not place undue reliance on these forward-looking
statements. We are not obligated to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or circumstances, changes in
expectations or otherwise.
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SOURCE Ashford Hospitality Trust, Inc.