AMREIT, INC. Message Board

  • sdavidross sdavidross Jul 30, 2012 8:11 PM Flag

    AMRE vs AMY

    Is this the same company that used to be AMY?

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    • AMY (later re-designated AMYRZ)) was the symbol for the class A shares of AmReit, Inc., back when these AmnReit shares were still listed and traded. These class A shares are no longer listed and traded, but they are still outstanding and have been receiving quarterly dividends of $0.10 per share.

      AMRE is a new class of B shares, which are listed and traded. Per the company's July 27, 2012 Form 8-K, each class B share has the same voting, distribution and liquidation rights as a class A share.

      I e-mailed AMREIT's investor relations department about the trading status of class A shares, and today they replied:

      "The Class A shares are not publicly traded; they will have an
      opportunity to exchange shares for Class B shares as explained in a
      letter being mailed to investors this week."

      If you own any class A shares, you should be aware that the company's Form 8-K also states that the class A shares have undergone a 1:2 reverse stock split. I take this to suggest that class A shareholders (like me) will be given the opportunity to obtain a number of class B shares equal to half the number of class A shares they had formerly owned.

 
AMRE
19.50-0.04(-0.20%)11:58 AMEDT