DALLAS, Nov. 8, 2017 /PRNewswire/ -- Ashford
Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the
"Company") announced today that it intends to redeem 5,135,924
shares of its 8.45% Series D Cumulative Preferred Stock (CUSIP No.
044103406) (the "Redeemed Stock"). All shares of Redeemed
Stock will be redeemed in accordance with the applicable procedures
of the Depository Trust Company. The shares of Series D
Preferred Stock will be redeemed pro rata from the holders of
record of such shares in proportion to the number of such shares
held by such holders. The redemption of the Redeemed Stock is
conditioned upon the closing by the Company of its previously
announced offering of Series I Cumulative Preferred Stock.
The redemption date will be December
8, 2017. The shares of Series D Preferred Stock will
be redeemed at a redemption price of $25.00 per share, plus accrued and unpaid
dividends from October 1, 2017
through the redemption date, in an amount equal to $0.399028 per share, for a total redemption price
of $25.399028 per share. The
redemption price for the Redeemed Stock will be payable in cash,
without interest, as soon as practicable after the redemption
date. Dividends on shares of Redeemed Stock will cease to
accrue on 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.
As specified in the notice of redemption, payment of the
applicable redemption price will result from the Redeemed 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 Redeemed 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.
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. Forward looking
statements in this press release include, among others, statements
about the Company's strategy and future plans. 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 securities; 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/Remington Hotel Corp.