ROCHESTER, N.Y., Sept. 23, 2015 /PRNewswire/ -- Home
Properties, Inc. (NYSE: HME) ("Home Properties" or the "Company")
today announced a cash dividend equal to $0.00844 per share of common stock for each day
elapsed from and including October 1,
2015 (or, if the Lone Star merger is approved by
stockholders on a later date, from and including such later date)
and ending on the day before the closing date of the previously
announced merger with affiliates of Lone Star Funds. The
dividend is payable on the merger closing date to stockholders of
record at the close of business on the second business day prior to
the merger closing date. To the extent any such dividends are
not paid before the merger closing date, then the payment will be
made as soon as practicable thereafter. The dividend will not
be paid if the merger agreement is terminated or the merger does
not close on or before December 31, 2015.
The dividend is permitted by the terms of the previously
announced Amendment Agreement, dated August
27, 2015, which amended the Merger Agreement, dated
June 22, 2015, by and among Home
Properties, Home Properties, L.P., affiliates of Lone Star
Funds and UDR, Inc. (NYSE: UDR).
About Home Properties
Home Properties is a publicly traded multifamily real estate
investment trust that owns, operates, acquires and repositions
apartment communities in suburbs of major metropolitan areas,
primarily along the East Coast of the
United States. An S&P 400 Company, Home Properties owns
and operates 121 communities containing 41,957 apartment units. For
more information, please visit the Company's website at
www.homeproperties.com.
Forward Looking Statements
This communication contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements generally can be
identified by use of statements that include phrases such as
"believe," "expect," "anticipate," "estimate," "intend," "plan,"
"will," "predicted," "likely," or other words or phrases of similar
import. Such statements involve known and unknown risks,
uncertainties, and other factors that may cause the actual results,
performance, or achievements of the Company to be materially
different from future results, performance or achievements
expressed or implied by such forward-looking statements. Such
factors include, but are not limited to, the ability of the Company
to obtain required stockholder approval required to consummate the
proposed merger; the satisfaction or waiver of other conditions in
the Merger Agreement; the outcome of any legal proceedings
that may be instituted against the Company and others related to
the Merger Agreement; the ability of third parties to fulfill their
obligations relating to the proposed transactions, including
providing financing under current financial market conditions; the
risk that the REIT merger, the operating partnership merger or the
other transactions contemplated by the Merger Agreement may not be
completed in the time frame expected by the parties or at all; the
ability of the Company to implement its operating strategy; changes
in economic cycles; and competition within the multifamily
residential real estate industry. Although the Company believes
that the assumptions underlying the forward-looking statements
contained herein are reasonable, any of the assumptions could be
inaccurate, and therefore there can be no assurance that such
statements included in this communication will prove to be
accurate. In light of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such
information should not be regarded as a representation by the
Company or any other person that the results or conditions
described in such statements or the objectives and plans of the
Company will be achieved. Certain factors that could cause actual
results to differ materially from these forward-looking statements
are listed from time to time in the Company's SEC reports,
including, but not limited to, in the section entitled "Item 1A.
Risk Factors" in the Annual Report on Form 10-K filed by the
Company with the SEC on February 24, 2015. Any forward-looking
statement speaks only as of the date of this communication and we
undertake no obligation to update or revise any forward-looking
statements, whether as a result of new developments or
otherwise.
Additional Information about the Proposed Transactions and
Where to Find It
In connection with the proposed transactions contemplated by the
Merger Agreement, the Company has filed with the SEC, and
mailed or otherwise disseminated to the Company's stockholders, the
definitive proxy statement. The Company may file other relevant
documents with the SEC regarding the proposed transactions.
INVESTORS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND
OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IF AND WHEN THEY BECOME
AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. You may
obtain a free copy of the definitive proxy statement and other
relevant documents filed by the Company with the SEC at the SEC's
website at www.sec.gov. Copies of the documents filed by the
Company will be available free of charge on its website at
www.homeproperties.com, or by directing a written request to Home
Properties, Inc. at 850 Clinton Square, Rochester, New York 14604, Attention:
Investor Relations.
The Company and its directors and executive officers may be
deemed to be participants in the solicitation of proxies in respect
of the proposed transactions. You can find information about the
Company's directors and executive officers in the Company's
definitive proxy statement filed with the SEC on March 27,
2015 in connection with its 2015 annual meeting of stockholders.
Additional information regarding the interests of such potential
participants is included in the definitive proxy statement and will
be included in other relevant documents filed with the SEC if and
when they become available. You may obtain free copies of these
documents from the Company using the sources indicated above.
Logo - http://photos.prnewswire.com/prnh/20150127/171750LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/home-properties-announces-contingent-dividend-in-connection-with-acquisition-by-lone-star-funds-300148053.html
SOURCE Home Properties
