Wintergreen Advisers Submits Director Nominations Notice to Consolidated-Tomoka
November 27, 2017 at 04:20 pm EST
Share
On November 27, 2017, Consolidated-Tomoka Land Co. announced that it had received from Wintergreen Advisers, LLC a shareholder proposal dated November 13, 2017, and a notice of intent to nominate 3 candidates for election to Company’s board of directors dated November 24, 2017. Wintergreen Advisers has requested that the shareholder proposal and the director nominations be submitted for consideration by Company’s shareholders at the Company’s 2018 annual meeting of shareholders. The shareholder proposal requests that the Board hire an independent adviser to maximize shareholder value by evaluating all options for the Company, including a sale or liquidation of the Company. The 3 director nominees identified by Wintergreen Advisors are David J. Winters, Elizabeth N. Cohernour, and Evan H. Ho.
CTO Realty Growth, Inc. is a real estate investment trust that owns and operates a portfolio of retail-based properties located primarily in higher growth markets in the United States. The Company operates in four primary business segments: management services, commercial loans and investments, real estate operations, and income properties. The management services segment is a fee-based management business that is engaged in managing Alpine Income Property Trust, Inc. (PINE). The commercial loans and investments segment includes a portfolio of three commercial loan investments and one preferred equity investment, which is classified as a commercial loan investment. The real estate operations segment includes a portfolio of subsurface mineral interests associated with approximately 352,000 surface acres in 19 counties in the State of Florida and an inventory of mitigation credits. The Companyâs business also includes its investment in PINE.