Investors in our Series C Preferred Stock generally will have no voting rights but will have limited voting rights if we fail to pay dividends for six or more quarters and under certain other circumstances.
We may not redeem the Series C Preferred Stock before May 17, 2011, except in limited circumstances to preserve our status as a real estate investment trust, or REIT, or as described below. On or after May 17, 2011, we may, at our option, redeem the Series C Preferred Stock, in whole or in part, by paying $25.00 per share, plus any accrued and unpaid dividends to the redemption date. If at any time following a Ùchange of control,ˆ the Series C Preferred Stock is not listed on the New York Stock Exchange or the American Stock Exchange or quoted on NASDAQ, we will have the option to redeem the Series C Preferred Stock, in whole but not in part, within 90 days after the first date on which both the change of control has occurred and the Series C Preferred Stock is not so listed or quoted, for cash at $25.00 per share, plus accrued and unpaid dividends, if any, to the redemption date. Our Series C Preferred Stock has no stated maturity, will not be subject to any sinking fund or mandatory redemption and will not be convertible into any of our other securities.
Full Prospectus PDF », Secondary Prospectus PDF », BEE Page »
|
Strategic Hotels & Resorts operates as a self-administered and self-managed real estate investment trust. Co. conduct its operations through its direct and indirect subsidiaries including Strategic Hotel Funding, L.L.C. As of Feb 23 2015, Co.: wholly owned or leased 14 hotels, had 53.5% and 51.0% interests in affiliates that each own one hotel where Co. asset managed such hotels, own land held for development including: 50.7 acres of oceanfront land in Nayarit, Mexico; 13.8 acres of land in Scottsdale, AZ, entitled for development and residential usage; and a 20,000 sq. ft. oceanfront land parcel in Santa Monica, CA, entitled for development and residential units. Preferreds: BEE.PRB, BEE.PRC, BEE.PRA Open the BEE Information Page » |
|
|
Free Email Alerts: Get Dividend Alerts Get SEC Filing Alerts |
|