DRA CRT Acquisition Corp., formerly CRT Properties Inc., Declares Quarterly Dividend for Preferred Shareholders.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- The Board of Directors of DRA DRA Delta Regional Authority DRA Developmental Reading Assessment (educational test) DRA Division of Ratepayer Advocates (California) DRA Data Research Associates DRA Directory and Resource Administrator CRT (1) (C RunTime) See runtime library. (2) (Cathode Ray Tube) A vacuum tube used as a display screen in a computer monitor or TV. The viewing end of the tube is coated with phosphors, which emit light when struck by electrons. Acquisition Corp.(PINK SHEETS:DCAQP) (the "Company", formerly CRT Properties Inc.), declared a regular quarterly cash dividend payment of $0.53125 per share on its 8.5% Series A Cumulative Redeemable Preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. to be paid on December 15, 2005 to shareholders of record on December 1, 2005. The Company's 8.5% Series A Cumulative Redeemable Preferred Stock has been listed on the Pink Sheets, a centralized quotation service that collects and publishes market maker quotes for certain securities. The Pink Sheets trading symbol Trading symbol See: Ticker symbol for the Company's 8.5% Series A Cumulative Redeemable Preferred Stock is DCAQP. On September 27, 2005, the merger of CRT Properties, Inc. ("CRT Properties") with and into the Company, an investment fund managed by DRA Advisors LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("DRA"), was completed. Upon the completion of the merger, CRT Properties' 8.5% Series A Cumulative Redeemable Preferred Stock was automatically converted on a 1:1 basis into shares of 8.5% Series A Cumulative Redeemable Preferred Stock of the Company and was de-listed from the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . The Company no longer files periodic and other reports with the Securities and Exchange Commission. The Company's 8.5% Series A Cumulative Redeemable Preferred Stock is not redeemable prior to September 10, 2008. However, the Company will investigate alternatives for an earlier redemption during the second half of 2006 including, but not limited to, a possible offer to purchase the preferred stock from the holders thereof, subject to the availability of acceptable financing. Additional information regarding the Company's 8.5% Series A Cumulative Redeemable Preferred Stock will be provided by DRA as it becomes available and is available on DRA's website at www.draadvisors.com. About DRA Advisors LLC DRA Advisors LLC is a New York-based registered investment advisor Registered Investment Advisor (RIA) is a designation obtainable in the United States by an individual who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or multiple States in some cases) in specializing in real estate investment management services for institutional and private investors, including pension funds, university endowments, foundations and insurance companies. Founded in 1986, the firm currently manages approximately $5 billion in assets. Additional information about DRA can be found on the company's web site at www.draadvisors.com. "Safe Harbor" Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward looking statements. Factors that impact such forward looking statements include, among others, real estate conditions and markets; performance of affiliates or companies in which we have made investments; changes in operating costs; legislative or regulatory decisions; our ability to continue to maintain our status as a REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). for federal income tax purposes; the cost and availability of new debt financings; volatility of interest rates or capital market conditions; effect of any terrorist activity; or other factors affecting the real estate industry generally. Except as otherwise required by the federal securities laws, the Company assumes no liability to update the information in this press release. |
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