CRT Properties Announces Shareholder Approval of Merger Agreement with DRA
September 23 2005 - 1:06PM
Business Wire
CRT Properties, Inc. (NYSE:CRO), today announced that at a special
meeting of its shareholders held in New York City, shareholders
approved the Company's previously announced merger agreement with a
subsidiary of DRA Advisors, LLC. "We are extremely pleased with
this transaction for our shareholders," stated Victor A. Hughes,
Jr., Chairman of the Board. "Tom Crocker, our chief executive
officer, his management team and all our employees are to be
congratulated." The Company and DRA anticipate closing the merger
transaction on or about Tuesday, September 27, 2005. About CRT
Properties, Inc. CRT Properties, Inc. owns 137 office buildings,
containing approximately 11.7 million rentable square feet, located
in more than twenty five office projects in twelve metropolitan
areas in the Southeastern United States, Texas and Maryland. For
more information about CRT Properties, Inc., contact its website at
http://www.crtproperties.com or Investor Relations, 225 NE Mizner
Boulevard, Suite 200, Boca Raton, Florida 33432-3945, or call
1-800-850-2037. Private Securities Litigation Reform Act of 1995.
The Private Securities Litigation Reform Act of 1995 provides a
"safe harbor" for certain forward-looking statements. The
forward-looking statements contained in this release, including
those that refer to management's plans and expectations for future
operations, prospects and financial condition, are subject to
certain risks and uncertainties. Actual results could differ
materially from current expectations. The words "believe,"
"expect," "anticipate," "intend," "estimate" and other expressions
which are predictions of or indicate future events and trends and
which do not relate to historical matters identify forward-looking
statements. Reliance should not be placed on these statements
because, by their nature, they are subject to known and unknown
risks and can be affected by factors that are beyond the control of
CRT Properties, Inc. Among the factors that could affect the
Company's actual results are changes in general economic
conditions, including changes in the economic conditions affecting
industries in which its principal tenants compete; its ability to
timely lease or re-lease space at current or anticipated rents to
creditworthy tenants; changes in interest rates; future demand for
its debt and equity securities; and its ability to complete current
and future development projects on schedule and on budget. A more
detailed discussion of these and other factors is set forth in the
"Risk Factors" section of the Company's SEC reports and filings,
including its Annual Report on Form 10-K for the year ended
December 31, 2004. For forward-looking statements contained or
incorporated by reference herein, the Company claims the protection
of the safe harbor for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995. The Company
assumes no obligation to update or supplement forward-looking
statements that become untrue because of subsequent events.
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