Feldman Mall Properties, Inc. Announces Move to OTC Market
June 30 2008 - 8:36AM
PR Newswire (US)
GREAT NECK, N.Y., June 30 /PRNewswire-FirstCall/ -- Feldman Mall
Properties, Inc. (NYSE:FMP) announced today that it intends to
commence trading on the Over the Counter Market (OTC Bulletin
Board) effective July 7, 2008 at beginning of market trading that
day and at that time no longer will trade on the New York Stock
Exchange. The Company will obtain and announce a trading symbol
shortly. The OTC Bulletin Board (OTCBB) is a regulated quotation
service that transmits, on an electronic basis, real-time quote,
price and volume information on more than 3,300 domestic and
foreign securities. The OTCBB includes more than 230 participating
Market Makers. About Feldman Mall Properties, Inc. Feldman Mall
Properties, Inc. acquires, renovates and repositions enclosed
regional shopping malls. Feldman Mall Properties Inc.'s investment
strategy is to opportunistically acquire underperforming malls and
transform them into physically attractive and profitable Class A or
near Class A malls through comprehensive renovation and
re-tenanting efforts aimed at increasing shopper traffic and tenant
sales. The Company's portfolio, including non-owned anchor tenants,
consists of seven regional malls aggregating approximately 7.0
million square feet of which the Company owns approximately 4.1
million square feet. For more information on Feldman Mall
Properties Inc., visit the Company's website at
http://www.feldmanmall.com/. Forward-looking Information This press
release contains forward-looking statements that involve risks and
uncertainties regarding various matters, including, without
limitation, the success of our business strategy, including our
acquisition, renovation and repositioning plans; our ability to
close pending acquisitions and the timing of those acquisitions;
our ability to obtain required financing; our understanding of our
competition; market trends; our ability to implement our
repositioning plans on time and within our budgets; projected
capital and renovation expenditures; demand for shop space and the
success of our lease-up plans; availability and creditworthiness of
current and prospective tenants; and lease rates and terms. The
forward-looking statements are based on our assumptions and current
expectations of future performance. These assumptions and
expectations may be inaccurate or may change as a result of many
possible events or factors, not all of which are known to us. If
there is any inaccuracy or change, actual results may vary
materially from our forward-looking statements. DATASOURCE: Feldman
Mall Properties, Inc. CONTACT: Thomas E. Wirth, President &
Chief Financial Officer of Feldman Mall Properties, Inc.,
+1-516-684-1239, or Scott Eckstein of Financial Relations Board,
+1-212-827-3766, , for Feldman Mall Properties, Inc. Web site:
http://www.feldmanmall.com/
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