UMH Properties, Inc. Announces Share Repurchase Program
June 17 2008 - 10:20AM
PR Newswire (US)
FREEHOLD, N.J., June 17 /PRNewswire-FirstCall/ -- The Board of
Directors of UMH Properties, Inc. (AMEX:UMH) approved a share
repurchase program that authorizes the Company to purchase up to
$10 million in the aggregate of the Company's common stock. The
share repurchase program is intended to be implemented through
purchases made from time to time using a variety of methods, which
may include open market purchases, privately negotiated
transactions or block trades, or by any combination of such
methods, in accordance with applicable insider trading and other
securities laws and regulations. The size, scope and timing of any
purchases will be based on business, market and other conditions
and factors, including price, regulatory and contractual
requirements or consents, and capital availability. The repurchase
program does not require the Company to acquire any particular
amount of common stock, and the program may be suspended, modified
or discontinued at any time at the Company's discretion without
prior notice. Shares of stock repurchased under the program will be
held as treasury shares. UMH, a publicly-owned REIT, owns and
operates twenty-eight manufactured home communities located in New
Jersey, New York, Pennsylvania, Ohio and Tennessee. In addition,
the Company owns a portfolio of REIT securities. DATASOURCE: UMH
Properties, Inc. CONTACT: Rosemarie Faccone or Susan Jordan, both
of UMH Properties, Inc., +1-732-577-9996
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