ACRE REALTY INVESTORS INC. (NYSEMKT:AIII) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07. Submission of Matters to a Vote of Security Holders.
At the annual meeting of shareholders of ACRE Realty Investors
Inc. (the Company) held on December 14, 2016 (the Annual
Meeting), the shareholders voted on the following matters: (i)
the re-election of three nominated directors, Bruce D. Frank,
Robert L. Loverd and Charles S. Roberts, to serve for a term
expiring at the 2019 annual meeting of shareholders and until a
successor shall be elected and shall qualify and (ii) the
ratification of the appointment of Deloitte Touche LLP as the
Companys independent registered public accounting firm for the
year ending December 31, 2016. As of October 25, 2016, the record
date for the Annual Meeting, there were 20,464,187 shares of
common stock outstanding and entitled to vote.
The full results of the matters voted on at the Annual Meeting
are set forth below:
Proposal 1 Election of Directors. The following nominees were
re-elected to our Board to serve for a term expiring at the 2019
annual meeting of shareholders and until a successor shall be
elected and shall qualify: Bruce D. Frank, Robert L. Loverd and
Charles S. Roberts.
| Nominee for Director | For | Withheld | Broker Non-Votes | |||||||||
| Bruce D. Frank | 14,376,691 | 82,266 | 4,188,904 | |||||||||
| Robert L. Loverd | 14,376,691 | 82,266 | 4,188,904 | |||||||||
| Charles S. Roberts | 14,388,710 | 70,247 | 4,188,904 | |||||||||
Proposal 2 Ratification of Appointment of Independent Registered
Public Accounting Firm. This proposal was ratified upon the
following vote.
| For | Against | Abstain | Broker Non-Votes | |||
| 18,561,129 | 39,415 | 47,317 | * |
| * |
No broker non-votes arose in connection with Proposal 2 due to the fact that the matter was considered routine under New York Stock Exchange rules. |
About ACRE REALTY INVESTORS INC. (NYSEMKT:AIII)
ACRE Realty Investors Inc., formerly Roberts Realty Investors, Inc., is a commercial real estate investment and operating company. The Company is focused on commercial real estate investments. The Company operates through the land segment, which consists of a single tract of land, including cash and cash equivalents, other assets and general and administrative expenses. The Company may invest in multifamily, office, mixed-use office, retail, industrial, healthcare or lodging properties, as well as preferred equity or debt instruments secured by mortgages on these types of properties, mezzanine loans secured by pledges of equity interests in entities that own these types of properties or other forms of subordinate debt in connection with these types of properties. The Company conducts all of its operations and owns all of its assets in and through ACRE Realty LP, formerly Roberts Properties Residential, L.P. (Operating Partnership). ACRE REALTY INVESTORS INC. (NYSEMKT:AIII) Recent Trading Information
ACRE REALTY INVESTORS INC. (NYSEMKT:AIII) closed its last trading session 00.00 at 1.07 with 0 shares trading hands.
