CAPITAL PROPERTIES, INC. (OTCMKTS:CPTP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02(b).
Resignation and Appointment of President
On July 31, 2018, P. Scott Conti, President of Capital Properties, Inc. (the “Company”) resigned as President of the Company, effective October31, 2018. The Board of Directors accepted his resignation with regret and elected the Company’s Chairman and Chief Executive Officer, Robert H. Eder, as Chairman, President and Chief Executive Officer, effective October 31, 2018.
About CAPITAL PROPERTIES, INC. (OTCMKTS:CPTP)
Capital Properties, Inc., through its subsidiaries, operates in two segments: leasing and petroleum storage. The Company’s subsidiaries include Tri-State Displays, Inc., Capital Terminal Company and Dunellen, LLC. The leasing segment leases Company-owned land in the Capital Center area (Capital Center) in downtown Providence, Rhode Island under long-term ground leases. The petroleum storage segment includes Terminal and Pier Facility. The Company owns approximately 20 acres in the Capital Center consisting of over 10 individual parcels. It leases Parcels 3E, 3W, 4E and 4W in the Capital Center area for public parking purposes on a short-term basis. The Company leases a parcel of land adjacent to the Capital Center for public parking purposes on a short-term basis. The Company, through Dunellen, LLC, owns a petroleum storage terminal containing approximately 1,004,000 shell barrels (the Terminal) and the Wilkesbarre Pier (the Pier).
