Shurgard Storage Ctr (NYSE:SHU)
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From Jul 2019 to Jul 2024
Shurgard Storage Centers, Inc. (NYSE:SHU), a leading
self-storage real estate investment trust (REIT) in the United States
and Europe, today announced that its Board of Directors has authorized
management and the Company's financial advisors to explore strategic
alternatives to maximize shareholder value. These alternatives
include, but are not limited to, a sale of the company, formation of
asset joint ventures with strategic partners, a sale of certain of our
assets or operations, and continued implementation of Shurgard's
strategic business plan. Shurgard cautioned that there could be no
assurance that the exploration of strategic alternatives would result
in any definitive agreement or transaction.
Charles Barbo, Chairman of the Board and Chief Executive Officer
of Shurgard stated, "Our Board of Directors and management are
strongly committed to acting in the best interests of all of our
shareholders. Over the past several months, we have given much thought
to the bright prospects for our business and the possible options
available to us to create value. We have also spent considerable time
listening to our shareholders and believe that now is an opportune
time to explore all strategic alternatives available to Shurgard."
Citigroup Global Markets Inc. and Banc of America Securities LLC
are serving as financial advisors in connection with these matters,
and Willkie Farr & Gallagher LLP and Perkins Coie LLP are acting as
legal counsel.
About Shurgard Storage Centers, Inc.
Shurgard Storage Centers, Inc. is a real estate investment trust
headquartered in Seattle, Washington. Shurgard specializes in all
aspects of the self-storage industry and operates a network of over
640 operating storage centers located throughout the United States and
in Europe.
Forward Looking Statements
This press release contains statements that are not based on
historical fact and are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Statements in this release concerning the beliefs, expectations,
intentions, future events, future performance, business prospects and
business strategy in the United States and Europe, including
statements regarding projections for 2005 and beyond; are based on
several assumptions. If any of these assumptions are not satisfied or
prove to be incorrect, actual results could differ materially from
those indicated in the forward-looking statements, depending on a
variety of factors including, but not limited to, Shurgard's ability
to implement its business strategy, competition in the market, as well
as other risk factors as described more fully in Shurgard's Annual
Report on Form 10-K for the year ended December 31, 2004, filed with
the Securities and Exchange Commission on March 29, 2005, its report
on Form 10-Q for the quarter ended March 31, 2005, filed on May 10,
2005, its report on Form 10-Q for the quarter ended June 30, 2005,
filed on August 9, 2005, and its report on Form 10-K/A for the year
ended December 31, 2004, filed on October 14, 2005. The information
presented in this release reflects Shurgard's expectations as of the
date of this release. Except as required by law, Shurgard undertakes
no obligation to update or revise the information herein.