Printer Friendly

LINCOLN N.C. REALTY FUND INC. SHAREHOLDERS APPROVE SALE OF LINCOLN RANCHO BERNARDO PROPERTY

 LINCOLN N.C. REALTY FUND INC. SHAREHOLDERS APPROVE SALE
 OF LINCOLN RANCHO BERNARDO PROPERTY
 PALO ALTO, Calif., March 2 /PRNewswire/ -- Lincoln N.C. Realty Fund Inc. (AMEX: LRF) announced today the results of the proxy vote taken at a Special Meeting of Stockholders held on Feb. 28, 1992. As previously announced, the purpose of the Special Meeting was to consider the sale of the company's Lincoln Rancho Bernardo property and to seek stockholder approval and ratification for certain amendments to the Employment Agreement and Non-Qualified Stock Option Agreement of William F. Garlock, the company's president.
 The company's shareholders have approved the sale of Rancho Bernardo Property to BB&K/Bernardo Hills Inc. for $16,250,000. The company's shareholders have also approved and ratified Amendments to the Employment Agreement and Stock Option Agreement of William F. Garlock.
 The company also announced that its board of directors has voted to postpone the dividend for the first quarter of 1992 in anticipation of the close of the sale of the Rancho Bernardo Property. The company expects to declare a special dividend of the net cash proceeds (less contingency fund) of the Rancho Bernardo sale within 60 days of the close.
 The company is a real estate investment trust. Its securities are listed on the American and Pacific Stock Exchanges. The company's principal executive offices are located at 698 Emerson St., Palo Alto, Calif. 94301, and its telephone number is 415-329-8867.
 -0-
 /CONTACT: William F. Garlock of Lincoln N.C. Realty Fund Inc., 415-329-8867/
 (LRF) CO: Lincoln N.C. Realty Fund Inc. ST: California IN: FIN SU:


RF -- SJ008 -- 4211 03/02/92 17:44 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 2, 1992
Words:273
Previous Article:NILES, MICH., MAN AWARDED $311,000 FOR LOSS OF THREE FINGERS
Next Article:SANTA FE ENERGY RESOURCES AND ADOBE RESOURCES MAIL MERGER PROXY
Topics:


Related Articles
LINCOLN N.C. REALTY ANNOUNCES THE RESTRUCTURING OF THE PROPOSED DISPOSITION OF ITS RANCHO BERNARDO PROPERTY
LINCOLN N.C. REALTY CLOSES SALE OF LINCOLN RANCHO BERNARDO PROPERTY
LINCOLN N.C. REALTY FUND ANNOUNCES DIVIDEND
GOLDEN CORRAL REALTY CORPORATION SHAREHOLDERS APPROVE PROPERTY ACQUISITION, NAME CHANGE, CORPORATE CHANGES
LINCOLN N.C. REALTY FUND DECLARES RESULTS OF STOCKHOLDERS MEETING
SCHNITZER/MARTIN ANNOUNCE AGREEMENT REGARDING TENDER OFFER FOR LINCOLN R.E.I.T. SHARES
LINCOLN N.C. REALTY FUND TENDER ANNOUNCEMENT
CROCKER REALTY TRUST FORMED IN MERGER OF CROCKER REALTY INVESTORS AND APOLLO AFFILIATE
FIRST INDUSTRIAL ENTERS INDIANAPOLIS, CINCINNATI & COLUMBUS MARKETS; COMPANY CLOSES THREE MILLION SQUARE FOOT UPREIT TRANSACTION

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters