Key Developments: AMREP Corp (AXR)
8.01USD
18 Jun 2013
$-0.74 (-8.46%)
$8.75
$8.57
$8.73
$7.84
6,738
10,780
$15.77
$4.80
Latest Key Developments (Source: Significant Developments)
Amrep Corp Commences Rights Offering
Amrep Corp announced its commencement of a rights offering, which is being extended to all holders of record of the Company's common stock at the close of business on May 31, 2013. The Rights Offering will be carried out through the distribution of non-transferable subscription rights to subscribe for and purchase shares of Common Stock, as described in the Company's Prospectus, dated May 31, 2013. Record holders of Common Stock as of the Record Date will receive one Right for every share of Common Stock owned of record as of the close of business on the Record Date. Each Right allows a Record Holder to subscribe for 0.200 of a share of Common Stock at the cash price of $6.25 per whole share. Full Article
Amrep Corp Announces Rights Offering
Amrep Corp announced that it expects to distribute to the holders of its common stock, non-transferable subscription rights (the "Rights") that will enable its shareholders to purchase an aggregate of 1,199,242 shares of its common stock. The Rights will be distributed to the holders of record of its common stock as of the close of business on May 31, 2013 (the "Record Date") on the basis of one Right for each share of its common stock. Each Right can be exercised to purchase two-tenths (0.2) of a share for each share of its common stock (the "Rights Offering"). The price per whole share at which shareholders may exercise the Rights (the "Subscription Price"), which will be determined shortly before the Rights Offering is made, is expected to be less than the then-existing market price of the Company's common stock when that price is set. Full Article
Amrep Corp Announces Officer And Director Changes
Amrep Corp announced that Nicholas G. Karabots, a member of the Company's Board of Directors and Vice Chairman of the Board and its Executive Committee, and Theodore J. Gaasche, the Company's President and Chief Executive Officer, effective at the close of business January 22, 2013, resigned from their positions with the Company. Effective at the same time, Mr. Gaasche was appointed by the Board as a director of the Company to fill the vacancy created by Mr. Karabots' resignation, and was also elected Vice Chairman of the Board's Executive Committee. No replacement for Mr. Gaasche as an officer has been selected and, in the absence of a Chief Executive Officer, the Executive Committee is charged with the oversight of the Company's business between Board meetings.Mr. Gaasche resigned as an officer in order to return to a more active role with Spartan. Full Article
Amrep Corp's Subsidiary Acquires Certain Assets Of FulCircle, Inc
Amrep Corp announced that, through a newly-formed subsidiary, it has acquired certain assets of FulCircle, Inc., a Denver, Colorado -based, privately-held company engaged in the marketing strategy, call center service, product distribution and operational solutions businesses. This acquisition will allow AMREP's Media Services business to move further into non-publishing relationships and will allow FulCircle clients to utilize many of the current technologies and operations provided by the Media Services business in its call center, product fulfillment and direct mail services activities. Full Article
AMREP Corporation Appoints Theodore J. Gaasche As President And Chief Executive Officer
AMREP Corporation announced two senior executive appointments. Theodore J. Gaasche will become President and Chief Executive Officer (CEO) of the Company effective August 1, 2011. Mr. Gaasche has served as AMREP's Vice President of Corporate Development since February 2011. Full Article
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