![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
NexPoint Diversified Real Estate Trust | NYSE:NXDT | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
DALLAS, June 20, 2024 /PRNewswire/ -- NexPoint Real Estate Opportunities, LLC (together with its affiliates "NexPoint"), a major shareholder of United Development Funding IV ("UDF IV" or the "Company"), a real estate investment trust ("REIT"), today announced its nomination of four highly qualified, independent candidates for election to the UDF IV Board of Trustees at the Company's upcoming Annual Meeting of Shareholders.
Following years of holding no UDF IV shareholder meetings prior to December 2023, or elections of independent trustees, the Circuit Court for Baltimore City, Maryland has ordered UDF IV to conduct an election for four independent Trustees at an Annual Meeting that must be held on or before December 31, 2024.
NexPoint has delivered to UDF IV its nomination of the following four highly qualified and independent trustee candidates:
NexPoint is nominating Edward N. Constantino and Julie E. Silcock as Class II trustees with three-year terms eligible for re-election in 2027, and Paul S. Broaddus and John A. Good as Class III trustees with one-year terms eligible for re-election in 2025.
As UDF IV's largest shareholder, NexPoint has been working for over four years to establish proper oversight and accountability at UDF IV. In making its nominations, NexPoint provided the following comment:
"Now that four of UDF IV's incumbent trustees must stand for election following a court order, shareholders finally have the chance to take action to address the company's corporate governance failures and dramatic multi-year diminution of shareholder value. With our proposed Trustees, shareholders can elect a Board that will represent shareholders' interests and find opportunities to provide a path to value recapture/creation and, ultimately, liquidity. Our nominees have decades of REIT and asset management experience and a strong track record of upholding their fiduciary duties. If elected, we believe they will restore integrity, accountability, and transparency at UDF IV while working to recover lost value.
"Our efforts have already delivered significant victories for shareholders, including securing this upcoming 2024 Annual Meeting, and our trustee nominees will work to enact further positive changes. After years of opaque accounting and financial reporting, stagnant real estate developments, and the misuse of shareholder funds, shareholders should seize this moment to reclaim their rightful ownership of UDF IV and support these highly qualified nominees."
NexPoint believes that UDF IV's incumbent trustees have entrenched themselves through a systematic disenfranchisement of voters and have stifled any attempt by shareholders to drive meaningful change. Despite the convictions and subsequent incarcerations of several of UDF IV's founders and former management team, the trustees have continued to resist shareholder calls for transparency, accountability, and reform. NexPoint believes there are numerous examples of governance abuses at UDF IV, including:
NexPoint encourages shareholders to visit udfaccountability.com and complete the contact form to receive ongoing updates about the Company and the upcoming Annual Meeting, including about the meeting date once it has been set by the Company. Shareholders can also contact NexPoint via email at udfinvestors@nexpoint.com.
Additional information about NexPoint's nominees can be found at udfaccountability.com/nominees.
About NexPoint
NexPoint Real Estate Opportunities, LLC is a wholly owned subsidiary of NexPoint Diversified Real Estate Trust, Inc. (NYSE: NXDT), an affiliate of NexPoint Advisors, L.P.
NexPoint Advisors, L.P. is an SEC-registered adviser on the NexPoint alternative investment platform. It serves as the adviser to a suite of funds and investment vehicles, including a closed-end fund, interval fund, business development company, and various real estate vehicles. For more information visit www.nexpoint.com.
IMPORTANT INFORMATION
NexPoint Real Estate Opportunities, LLC ("NexPoint") intends to deliver a proxy statement with respect to its solicitation of proxies for nominees to be elected to the United Development Funding IV ("UDF IV") Board of Trustees at the Annual Meeting of Shareholders of UDF IV. The date for the Annual Meeting has not yet been set and NexPoint is not soliciting proxies at this time. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE NEXPOINT PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) WHEN AVAILABLE IN ITS ENTIRETY BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION. Copies of the documents will be made available free of charge from NexPoint by accessing the website www.udfaccountability.com.
NexPoint, its affiliates, their directors and executive officers and other members of management and employees may be participants (collectively "Participants") in the solicitation of proxies by NexPoint. Information about NexPoint's nominees to the UDF IV Board of Trustees and information regarding the direct or indirect interests in UDF IV, by security holdings or otherwise, of NexPoint, the other Participants and NexPoint's nominees will be available in the proxy statement. NexPoint's disclosure of any security holdings will be based on information made available to NexPoint by such Participants and nominees. UDF IV is no longer subject to the reporting requirements of the Securities Exchange Act of 1934, as amended. Consequently, NexPoint's knowledge of significant security holders of UDF IV and as to UDF IV itself is limited.
CONTACT INFORMATION
For Information/Updates on UDF IV
Website: www.udfaccountability.com
Email: udfinvestors@nexpoint.com
Investor Contacts
Chuck Garske / Jeremy Provost / Theo Caminiti (Okapi Partners):
Email: info@okapipartners.com
Phone: (212) 297-0720
Media Contacts
Lucy Bannon (NexPoint): lbannon@nexpoint.com
Paul Caminiti/Pamela Greene (Reevemark): nexpointteam@reevemark.com
NexPoint Investor Relations
Kristen Thomas: ir@nexpoint.com
View original content:https://www.prnewswire.com/news-releases/nexpoint-nominates-four-independent-trustees-to-united-development-funding-udf-iv-board-of-trustees-302178493.html
SOURCE NexPoint Advisors, L.P.
Copyright 2024 PR Newswire
1 Year NexPoint Diversified Rea... Chart |
1 Month NexPoint Diversified Rea... Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions