WHLR Real Estate Investment Trust Announces Governance Changes
28 February 2020 - 1:24AM
Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR,
WHLRP, WHLRD) (“Wheeler” or the “Company”) today announced
that its Board of Directors (the “Board”) has designated Stefani
Carter as Chairman-Elect and appointed Daniel Khoshaba to the
Executive Committee.
Ms. Carter has been elected by the Board to
serve as Chairman as of the conclusion of the upcoming annual
meeting of shareholders.
Mr. Khoshaba has been appointed to the Board and
the Executive Committee, effective immediately. Mr. Khoshaba
and Joe Stilwell will constitute the Executive Committee.
“The commercial real estate industry, including
retail, remains important for the U.S. economy,” said Ms.
Carter. “As Chairman-Elect, I look forward to working
closely with Daniel, Joe, and the other directors of Wheeler and
its management to turn the Company around and maximize shareholder
value.”
“As one of the Company’s largest shareholders, I
am delighted to be able to take an active role with the
Company. I look forward to working closely with Joe and the
other directors of Wheeler and its management to improve the
Company’s operations,” said Mr. Khoshaba.
“I look forward to working with Stefani, Daniel
and my fellow board members as we begin to rebuild shareholder
value,” said Mr. Stilwell.
ABOUT WHEELER REAL ESTATE INVESTMENT TRUST,
INC.
Headquartered in Virginia Beach, VA, Wheeler
Real Estate Investment Trust, Inc. is a fully integrated,
self-managed commercial real estate investment company focused on
owning and operating income-producing retail properties with a
primary focus on grocery-anchored centers. Please visit:
www.whlr.us.
Cadwalader, Wickersham & Taft LLP is serving
as legal advisor to the Company.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking”
statements as defined in the Private Securities Litigation Reform
Act of 1995. When the Company uses words such as “may,”
“will,” “intend,” “should,” “believe,” “expect,” “anticipate,”
“project,” “estimate” or similar expressions that do not relate
solely to historical matters, it is making forward-looking
statements. Forward-looking statements are not guarantees of
future performance and involve risks and uncertainties that may
cause the actual results to differ materially from the Company’s
expectations discussed in the forward-looking statements. The
Company’s expected results may not be achieved, and actual results
may differ materially from expectations. Specifically, the
Company’s statements regarding its ability to further reduce the
outstanding balance on the KeyBank line of credit, and creating a
solid, flexible balance sheet are forward looking statements.
These statements are not guarantees of future performance and are
subject to risks, uncertainties and other factors, some of which
are beyond our control, are difficult to predict and could cause
actual results to differ materially from those expressed or
forecasted in the forward-looking statements. For these
reasons, among others, investors are cautioned not to place undue
reliance upon any forward-looking statements in this press
release. Additional factors are discussed in the Company's
filings with the U.S. Securities and Exchange Commission, which are
available for review at www.sec.gov. The Company undertakes no
obligation to publicly revise these forward looking statements to
reflect events or circumstances that arise after the date
hereof.
CONTACT: Mary JensenInvestor
Relations(757) 627-9088mjensen@whlr.us
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