Denver–(business wire)–Apartment Investment and Management Company (NYSE: AIV) (“Aimco” or the “Company”) today announced that Institutional Shareholder Services Inc. (“ISS”) issued in connection with Aimco’s 2022 Annual Meeting of Stockholders commented on the report (“Annual Meeting”), to be held on December 16, 2022.
ISS encourages shareholders to vote for Jay Paul Leupp and Dary Stone at the company’s next annual shareholder meeting. However, while ISS acknowledges the strength and independence of its board of director nominees and the company’s relative TSR outperformance, ISS believes that shareholders favor James He Sullivan over Michael Stein. I respectfully disagree with the recommendation. Although Mr. Sullivan is an experienced real estate analyst, he does not have board or operational management experience with publicly traded companies and does not offer expertise not currently represented on Aimco’s board of directors.
We believe Michael Stein’s successor will deprive the company of unique skills and expertise critical to advancing Aimco’s strategy and driving continued value creation. Mike has a deep understanding of his Aimco and has overseen strategic corporate deals that drive shareholder value, as evidenced by his work at Marriott International, ICOS Corporation and Getty Images, Inc. New strategic direction. Mike has intimate knowledge of the company’s assets and uses his experience to oversee the Board’s ongoing evaluation of options for increasing value.
Importantly, Glass Lewis & Co. (“Glass Lewis”), a leading proxy advisory firm, has the right board and the right strategy to keep Aimco increasing value for shareholders is aware of that. In a December 1, 2022 report, Glass Lewis told Aimco shareholders that each of his three director nominees for Aimco (Jay Paul Leupp, Michael A. Stein, and R. Dary Stone) was WHITE. We encourage you to vote with a proxy card.
Aimco’s Board of Directors is committed to acting in the best interest of our shareholders and will continue to act as an agent for change in the interests of all Aimco shareholders. Aimco’s Board of Directors has urged shareholders to vote “yes” to run for re-election to Aimco’s three outstanding directors, Jay Paul Leupp, Michael A. Stein and R. Dary Stone. increase. white proxy card.
If you have any questions or need assistance with voting your shares, please contact our proxy attorneys listed below.
Mackenzie Partners Co., Ltd.
1407 Broadway, 27th Floor
New York, New York 10018
Collect Call: (212) 929-5500
Toll free (800) 322-2885
Aimco is a diversified real estate company focused primarily on value-added, opportunistic and alternative investments, serving the multifamily sector in the United States. Aimco’s mission is to make real estate investments that improve results through human capital so that real value is created for investors, teammates, and the communities in which we operate. Aimco trades on the New York Stock Exchange as his AIV. For more information about Aimco, please visit his website at www.aimco.com.
This document contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements include all statements that are not statements of historical fact and statements regarding our intentions, beliefs or expectations. This includes, but is not limited to, statements in this document regarding future funding plans, including our anticipated leverage and capital structure. business strategy, prospects, projected operating and financial results (including earnings); This includes the facts associated with it, such as expected costs. Future share buybacks. Anticipated Investment Opportunities; 2022 Pipeline Investments and Projects. Investors are cautioned not to place undue reliance on these forward-looking statements.
“anticipate”, “expect”, “intend”, “plan”, “believe”, “plan”, “may”, “will, would, could, should, seek(s), forecast (s), and similar expressions, or the negative form of these terms, are intended to identify such forward-looking statements, which do not predict future performance, conditions or results. It is not a warranty and is subject to many known and unknown risks, uncertainties, assumptions and other important factors, especially those that could affect our actual results or results. , including but not limited to: (i) the risk that the 2023 interim plans and targets may not be completed in a timely manner or at all; (ii) into the pipeline; (iii) as a result of changes in general economic conditions and the COVID-19 pandemic, including: the basis for forward-looking statements based on management’s expectations and estimates; Although we consider our assumptions to be reasonable, there is no guarantee that our expectations will be met.
Risks and uncertainties that could cause actual results to differ materially from our expectations include, but are not limited to: real estate and business risks, including fluctuations in real estate prices, general economic conditions in the markets in which we operate, and resident competition in such markets; National and regional economic conditions, such as the pace of job growth and unemployment rates. Quantity, location and quality of competitive new housing supply. timing and impact of acquisitions, disposals, redevelopments and developments; Changes in operating costs, including energy costs. deteriorating economic conditions in the regions in which we operate; Loss of key personnel. our ability to maintain current occupancy rates or meet projected occupancy rates, rental rates and property operating results; Our ability to meet budgeted costs and timelines and, where applicable, achieve budgeted rents related to redevelopment and development investments. expectations regarding the sale of condominiums and the use of their proceeds; Insurance costs, insurance risks such as natural disasters and severe weather such as hurricanes. Funding risks, including availability and cost of funding. The risk that cash flows from operating activities may be insufficient to meet required principal and interest payments. the risk that earnings may not be sufficient to maintain compliance with covenants, including financial coverage; legal and regulatory risks, including costs and adverse consequences associated with prosecuting or defending claims; the provisions of laws and government regulations that affect us and the interpretation of those laws and regulations; potential environmental liability, including costs, fines or penalties that may be incurred for the necessary remediation of contamination in apartment communities currently or previously owned by us; activities by shareholder activists, including proxy contests; risks relating to the timing of our shareholder value enhancement reviews and the risk that we may not identify value enhancement options or be unable to successfully execute or achieve the potential benefits of such options;
In addition, the Company’s current and continuing status as a real estate investment trust involves the application of highly technical and complex provisions of the Internal Revenue Code and, through its actual operation, meets the various requirements imposed by the Internal Revenue Code. depends on our ability to meet. Diversity of outcomes, distribution levels, and shareholdings. READERS CAREFULLY REVIEW THE COMPANY’S FINANCIAL STATEMENTS AND THE NOTES THEREOF, AND THE SECTION ENTITLED “RISK FACTORS” IN SECTION 1A OF THE COMPANY’S ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2021. need to do it. The Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022, and September 30, 2022, and other documents the Company files with the SEC from time to time. These filings identify and address important risks and uncertainties that could cause actual events or results to differ materially from those contained in the forward-looking statements.
These forward-looking statements reflect management’s current judgment and we undertake no obligation to revise or update them to reflect future events or circumstances (nor shall not be held responsible).
We make no representations or warranties as to the accuracy of any projections, estimates, targets, statements or information contained in this document. Such projections, estimates, targets, statements and information should not be regarded as facts and are subject to material business, financial, economic, operational, competitive and other risks, uncertainties and contingencies. understood and agreed. We cannot guarantee that any particular financial projections or goals will be achieved, that actual results may differ from projected results and that such differences may be material. All financial projections, estimates and targets are necessarily speculative, but the further a forecast, estimate or target is from the date it was created, the greater the level of uncertainty involved in the preparation of future financial information. thinking about. The assumptions and estimates underlying any projections, expectations or target results are inherently uncertain and could cause actual results to differ materially from those contained in the financial projections, estimates and targets. We are subject to a variety of material business, economic and competitive risks and uncertainties. target. The inclusion of financial projections, estimates and targets in this presentation indicates that the Company or its representatives believes or considers the financial projections, estimates and targets to be reliable predictions of future events. should not be taken as an indication that