Ashford Hospitality Trust, Inc. (NYSE:$AHT) announced a week ago that the company intends to redeem 379,036 shares of its 8.45% Series D Cumulative Preferred Stock. All shares of this stock will be redeemed in accordance with the applicable procedures of the Depository Trust Company. Further, these shares will be redeemed pro rata from the holders of record of such shares in proportion to the number of such shares held by such holders.
The exact redemption date will be on October 4th, 2017. The shares will be redeemed at the rate of $25.00 per share, in addition to accrued and unpaid dividends from July 1, 2017 through the redemption date, equal to $0.551598 per share, for the total redemption price of $25.551598 per share. This will be payable by cash, without interest. Further, dividends on shares of Redeemed Stocked will cease to accrue on the day prior to october 4th, the shares will no longer be deemed outstanding all rights of the holders in respect of such shares will terminate.
The payment of the applicable redemption price will result from the Redeemed Stock being debited from the holder’s book-entry account with the Company’s transfer agent.
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