AMREP CORPORATION (NYSE:AXR) Files An 8-K Results of Operations and Financial Condition

AMREP CORPORATION (NYSE:AXR) Files An 8-K Results of Operations and Financial Condition
Item 2.02

On September 9, 2020, AMREP Corporation issued a press release that reported its results of operations for the three month period ended July 31, 2020.  The press release is being furnished with this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

The information in this Item 2.02 of this Form 8-K and exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

On September 4, 2020, Theodore J. Gaasche resigned as a director of AMREP Corporation (the “Company”) and withdrew as a director nominee for consideration at the Annual Meeting of Shareholders of the Company to be held on September 10, 2020, and at any continuation or adjournment thereof. There were no disagreements between the Company and Mr. Gaasche relative to his resignation. In connection with such resignation, Mr. Gaasche will be issued 12,411 shares of common stock of the Company within 30 days after October 1, 2020 to an equivalent number of deferred common share units previously issued to Mr. Gaasche.

Prior to September 8, 2020, the Board of Directors (the “Board”) of the Company was a classified board divided into three classes, namely, Class I, Class II and Class III; Class I and II each consisted of one director and Class III consisted of two directors. On September 8, 2020, the Board reduced the size of the Board from four members to three members, reduced the number of Class III directors from two directors to one director and amended Section 1(a) of Article III of the By-Laws of the Company to provide that the Board consists of three directors.

(d) Exhibits.

3.1 By-laws, as amended.
99.1 Press Release, dated September 9, 2020, issued by AMREP Corporation.

  


AMREP CORP. Exhibit
EX-3.1 2 tm2030000d3_ex3-1.htm EXHIBIT 3.1   Exhibit 3.1   As amended through September 8,…
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About AMREP CORPORATION (NYSE:AXR)

Amrep Corporation is a holding company. The Company, through its subsidiaries, operates through two segments: real estate operations and fulfillment services. The Company conducts its real estate business through AMREP Southwest Inc. (AMREP Southwest) and its subsidiaries, with its activities occurring primarily in the City of Rio Rancho and certain adjoining areas of Sandoval County, New Mexico. The real estate operations include land sales and lease activities. Its fulfillment services is offered through its subsidiary Palm Coast Data LLC (Palm Coast) and its affiliates. Its fulfillment services business performs fulfillment and contact center services, including subscriber list and database management, payment and order processing and accounting, subscriber mailing services, customer service and contact center management, data processing and business intelligence solutions, print and digital marketing solutions, and product fulfillment warehousing, processing and distribution.

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