Feldman Mall Properties, Inc. and James W. Sight Reach Agreement Regarding Board Nomination
06 Mai 2008 - 1:42AM
PR Newswire (US)
GREAT NECK, N.Y. and SHAWNEE MISSION, Kan., May 5
/PRNewswire-FirstCall/ -- - Feldman Mall Properties, Inc.
(NYSE:FMP) and James W. Sight today announced that they have
reached an agreement relating to the Feldman Mall Properties 2008
Annual Meeting of Stockholders. Mr. Sight beneficially owns 880,500
shares of FMP common stock, representing approximately 6.8% of
FMP's outstanding shares. Under the terms of the agreement, which
will be filed as an exhibit to a report on Form 8-K to be filed by
Feldman Mall Properties, Mr. Sight has withdrawn his purported
nomination of three persons for election to the Feldman Mall
Properties' Board of Directors and will not solicit proxies in
connection with FMP's 2008 Annual Meeting. In addition, Mr. Sight
has agreed to vote his shares in support of all of the candidates
nominated by the Board of Feldman Mall Properties for election as
directors at the 2008 Annual Meeting. Mr. Sight also has agreed to
comply with certain standstill provisions for a period commencing
on the date of the agreement and ending on the date that is 150
days before the first anniversary of the date of the proxy
statement mailed to the stockholders of Feldman Mall Properties in
connection with its 2008 Annual Meeting of Stockholders, subject to
the express understanding that these provisions will not restrict
him from soliciting proxies or taking other actions in respect of
the 2009 annual meeting of stockholders. Feldman Mall Properties
has agreed that its Board will nominate Mr. Sight for election as a
director at the 2008 Annual Meeting of Stockholders. Feldman Mall
Properties, Inc. (the "Company") plans to file with the SEC and
mail to its stockholders a definitive proxy statement (the "2008
Proxy Statement") relating to its 2008 annual meeting of
stockholders, which is currently scheduled for May 28, 2008. The
Company, its directors and certain of its officers may be deemed,
under the SEC's rules, to be participants in a solicitation of
proxies from its stockholders in connection with the 2008 annual
meeting of stockholders. Information regarding those directors and
officers and their respective interests will be provided in the
2008 Proxy Statement. Investors should read the 2008 Proxy
Statement when it becomes available because it will contain
important information. Investors will be able to obtain the 2008
Proxy Statement, after it's filed, for free at the SEC's website at
http://www.sec.gov/. 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 6.8
million square feet. For more information on Feldman Mall
Properties Inc., visit the Company's website at
http://www.feldmanmall.com/. DATASOURCE: Feldman Mall Properties,
Inc. CONTACT: Thomas Wirth, President and Chief Executive Officer
of Feldman Mall Properties, Inc., +1-516-684-1239; or for James W.
Sight, +1-913-362-9133 Web site: http://www.feldmanmall.com/
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