ELS Announces Redemption of All of the Outstanding Shares of Its 8.034% Series a Cumulative Redeemable Perpetual Preferred Stock
Equity LifeStyle Properties (NYSE: ELS) today announced that, on September 18, 2012, it will give notice to holders of its 8.034% Series A Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Stock") (NYSE: ELSPrA, CUSIP No. 29472R 207) that it will redeem all of the outstanding shares of the Series A Preferred Stock on October 18, 2012 (the “Redemption Date”). The Series A Preferred Stock will be redeemed at the redemption price of $25.00 per share of Series A Preferred Stock plus $0.094846 in accumulated and unpaid distributions per share, whether or not declared, to, but not including the Redemption Date (the "Aggregate Redemption Price"). Distributions will cease to accrue on the Series A Preferred Stock as of the Redemption Date. From and after the Redemption Date, the only remaining rights of the holders of shares of the Series A Preferred Stock called for redemption will be to receive payment of the Aggregate Redemption Price.
A notice of redemption and related materials will be mailed on September 18, 2012 to holders of record of shares of the Series A Preferred Stock. All of the shares of the Series A Preferred Stock being called for redemption are held of record by Cede & Co., as nominee of The Depositary Trust Company (“DTC”). Accordingly, the shares of the Series A Preferred Stock will be redeemed in accordance with the applicable procedures of DTC. Questions relating to the notice of redemption and related materials should be directed to American Stock Transfer & Trust Company, LLC, the Company's transfer agent and the paying agent for the redemption of the Series A Preferred Stock (the “Paying Agent”), at (877) 248-6417 or (718) 921-8317. The address of the Paying Agent is American Stock Transfer & Trust Company, LLC, Attn: Reorganization Department, 6201-15th Avenue, Brooklyn, New York 11219.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.