EL SEGUNDO, Calif., Feb. 01, 2019 (GLOBE NEWSWIRE) -- Landmark Infrastructure Partners LP (the “Partnership” or “Landmark”) (LMRK) today announced that it amended its Omnibus Agreement with Landmark Infrastructure Partners GP LLC and Landmark Dividend LLC (the “Sponsor”).
The amendment to the Omnibus Agreement, among other things, extends the period of time for which the Sponsor will reimburse a portion of the partnership’s general and administrative expenses. The cap for general and administrative reimbursement has been revised to 3% of the Partnership’s consolidated revenue during the current calendar quarter and will last until the earlier of: (i) the date on which the Partnership’s consolidated revenue for the immediately preceding four consecutive fiscal quarters (in the aggregate) exceeds $120,000,000 and (ii) November 19, 2021.
“We are pleased to announce the extension of the General & Administrative expense reimbursement arrangement. This extension is further evidence of the Sponsor’s ongoing support for the Partnership and will facilitate our continued growth,” said Tim Brazy, Chief Executive Officer of the Partnership’s general partner.
The foregoing description is not complete and is qualified in its entirety by reference to the full text of the Omnibus Agreement amendment, a copy of which is filed as an exhibit on Form 8-K with the Securities and Exchange Commission on February 1, 2019.
Cautionary Note Regarding Forward Looking Statements
This release contains forward-looking statements within the meaning of federal securities laws. These statements discuss future expectations, contain projections of results of operations or of financial condition or state other forward-looking information. You can identify forward-looking statements by words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “project,” “could,” “may,” “should,” “would,” “will” or other similar expressions that convey the uncertainty of future events or outcomes. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the Partnership’s control and are difficult to predict. These statements are often based upon various assumptions, many of which are based, in turn, upon further assumptions, including examination of historical operating trends made by the management of the Partnership. Although the Partnership believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties and contingencies, which are difficult or impossible to predict and are beyond its control, the Partnership cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements contained in the Partnership’s filings with the U.S. Securities and Exchange Commission (the “Commission”), including the Partnership’s annual report on Form 10-K for the year ended December 31, 2017 and Current Report on Form 8-K filed with the Commission on February 15, 2018. These risks could cause the Partnership’s actual results to differ materially from those contained in any forward-looking statement.
About Landmark Infrastructure Partners LP
The Partnership owns and manages a portfolio of real property interests and infrastructure assets that the Partnership leases to companies in the wireless communication, outdoor advertising and renewable power generation industries.
Vice President, Investor Relations