PHOENIX, Jan. 30, 2014 /PRNewswire/ -- Cole Real
Estate Investments, Inc. ("Cole") (NYSE: COLE) confirmed today that
its common stock is not currently being quoted "ex" contingent
dividend on the New York Stock Exchange.
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As previously announced, on October 22,
2013, American Realty Capital Properties, Inc. ("ARCP") and
Cole entered into a definitive merger agreement under which Cole
will merge with and into a wholly owned subsidiary of ARCP (the
"merger"). Also as previously announced, on November 1, 2013, Cole's board of directors
authorized the declaration and payment of a cash dividend on a
monthly basis, in the amount of $0.06
per share of common stock (a monthly rate that is equivalent to an
annual rate of $0.72 per common
share) for stockholders of record as of January 31, 2014, subject to proration if the
merger is consummated on or before January
31, 2014.
Shares of Cole common stock will trade "ex" dividend in relation
to the January dividend beginning on February 3, 2014, unless the merger is
consummated on or before January 31,
2014.
Cole also announced today that on January
30, 2014, Cole's board of directors authorized the
declaration and payment of a cash dividend on a monthly basis, in
the amount of $0.06 per share of
common stock (a monthly rate that is equivalent to an annual rate
of $0.72 per common share) for
stockholders of record as of February 28,
2014, but only if the merger is not consummated on or before
January 31, 2014. The February
dividend, if any, will be subject to proration if the merger is
consummated on or before February 28,
2014 based on the number of days that have elapsed during
the month of February through and including the day prior to the
day on which the merger is consummated. The February
dividend, if any, will be paid on the last business day prior to
the closing of the merger to stockholders of record as of the close
of business on such day. In addition, shares of Cole common
stock will not trade "ex" dividend in relation to the February
dividend during the month of February.
About Cole
Cole is a market-leading net-lease REIT focused on the
acquisition, active management, leasing and financing of its
high-quality retail, office and industrial portfolio. Visit
www.ColeREIT.com to learn more about Cole's comprehensive
capabilities, best-in-class management platform, disciplined
investment strategy and high-quality real estate portfolio.
Forward-Looking Statements
Information set forth herein (including information included or
incorporated by reference herein) contains "forward-looking
statements" (as defined in Section 21E of the Securities Exchange
Act of 1934, as amended), which reflect Cole's expectations
regarding future events. The forward-looking statements involve a
number of risks, uncertainties and other factors that could cause
actual results to differ materially from those contained in the
forward-looking statements. Such forward-looking statements
include, but are not limited to, whether and when the transactions
contemplated by the merger agreement will be consummated, Cole's
plans, market and other expectations, objectives, intentions, as
well as any expectations or projections with respect to the
combined company, including regarding future dividends and market
valuations, and estimates of growth, including funds from
operations and adjusted funds from operations and other statements
that are not historical facts.
The following additional factors, among others, could cause
actual results to differ from those set forth in the
forward-looking statements: (1) the occurrence of any event, change
or other circumstances that could give rise to the termination of
the merger agreement; (2) the failure to obtain certain regulatory
approvals in connection with the closing of the merger; (3) risks
related to disruption of management's attention from the ongoing
business operations due to the proposed merger; (4) the effect of
the announcement of the proposed merger on ARCP's or Cole's
relationships with their respective customers, tenants, lenders,
operating results and businesses generally; (5) the outcome of any
legal proceedings relating to the merger or merger agreement; (6)
risks to consummation of the merger, including the risk that the
merger will not be consummated within the expected time period or
at all; (7) market volatility; (8) unexpected costs or unexpected
liabilities that may arise from the transaction; (9) the inability
to retain key personnel; (10) continuation or deterioration of
current market conditions; and (11) the business plans of the
tenants of Cole. Additional factors that may affect future results
are contained in Cole's filings with the SEC, which are available
at the SEC's website at www.sec.gov. Cole disclaims any obligation
to update and revise statements contained in these materials based
on new information or otherwise.
SOURCE Cole Real Estate Investments, Inc.