James Sprow | Blue Vault |
The annual meeting of stockholders of Inland Real Estate Income Trust, Inc. was convened on November 2, 2021, and has been adjourned to December 2, 2021 at 11:00 a.m. (central time) when the meeting will be reconvened at the Company’s principal executive offices at 2901 Butterfield Road, Oak Brook, Illinois 60523. During the period of the adjournment, the Company will continue to solicit proxies from its stockholders with respect to the proposals set forth in the Company’s proxy statement. Proxies previously submitted in respect of the annual meeting will be voted at the adjourned meeting unless properly revoked.
In a letter to stockholders on October 13, Mitchell Sabshon, CEO, explained the purpose of the proxy solicitation:
“Fellow Stockholder, On behalf of Inland Real Estate Income Trust (“Inland Income Trust”), I thank you for taking the time to submit your proxy for our 2021 Annual Meeting of Stockholders. As we have not yet received sufficient votes to approve important charter amendment proposals up for consideration, our Annual Meeting may need to be adjourned to solicit additional affirmative votes.
As described further in our proxy materials, the strategic plan of Inland Income Trust includes an intent to provide stockholders with a liquidity event, most likely through a listing of our stock for public trading on a national securities exchange. To prepare for a potential listing, Inland Income Trust is asking stockholders to approve amendments to our corporate Charter that would make our Charter consistent with those of real estate investment trusts (“REITs”) whose shares are listed and publicly traded on an exchange. We believe that approving these Charter amendments would enhance the Company’s ability to successfully list its stock and compete with other publicly traded REITs. As a result, our Board of Directors, including all of our independent directors, recommends that you vote FOR all of the proposed Charter amendments.
To reduce the risk of significant additional expenses associated with a meeting adjournment and additional vote solicitations, we encourage you to recast your vote FOR all of the proposed charter amendment proposals. Recasting your vote promptly using any of the methods described below will help us meet shareholder approval requirements before the November 2nd meeting date, thereby reducing the risks of meeting adjournment, additional solicitation costs, and delays to the execution of Inland Income Trust’s strategic plan.”
Source: SEC
