Woodbridge Holdings Corporation Anticipates a Listing Change
13 November 2008 - 11:41PM
Marketwired
Woodbridge Holdings Corporation (NYSE: WDG) announced today that,
reflecting the unprecedented decline in the trading prices of
shares of companies engaged in real estate related activities,
Woodbridge's Class A Common Stock has fallen below the New York
Stock Exchange's requirements for continued listing. Accordingly,
Woodbridge anticipates that its Class A Common Stock will move off
the New York Stock Exchange and instead be quoted on the OTCQX.
Information on the OTCQX can be accessed via the OTCQX's internet
website at www.OTCQX.com.
About Woodbridge Holdings Corporation
Woodbridge Holdings Corporation, directly and through its wholly
owned subsidiaries, seeks to invest opportunistically within and
outside the real estate industry. Historically, the Company's
operations were primarily within the real estate industry; however,
the Company's current business strategy includes the pursuit of
opportunistic investments and acquisitions within or outside of the
real estate industry, as well as the continued development of
master-planned communities. Under this business strategy, the
Company may not generate a constant earnings stream and the
composition of the Company's revenues may vary widely due to
factors inherent in a particular investment, including the maturity
of the business, market conditions and cyclicality. Net investment
gains and other income that may occur are to be driven by the
Company's strategic initiatives as well as overall market
conditions.
Core Communities, a wholly owned subsidiary, develops
master-planned total-living community environments throughout the
Southeastern United States, including its original and best known,
St. Lucie West. The company's 8,200-acre Tradition(TM) Florida
community is home to more than 1,700 families, vibrant commercial
areas and a 4.5-mile-long employment corridor. The community is
also home to the Florida Center for Innovation at Tradition (FCI)
Research Park, in which The Torrey Pines Institute for Molecular
Studies, Mann Research Center, Martin Memorial Health Systems and
Oregon Health & Science University's Vaccine and Gene Therapy
Institute have all announced plans to locate. Core is also
expanding its Tradition(TM) brand with Tradition(TM) Hilton Head,
an approximate 5,400-acre community planned to include 9,500
residences and 1.5 million square feet of commercial space, which
features a variety of neighborhoods and housing styles, shopping
and dining in Village Square, a Fitness Center & Spa and the
Tommy Fazio-designed Tradition National Golf Course.
Cypress Creek Capital Holdings, LLC, a wholly owned subsidiary,
is a real estate investment banking company. Cypress Creek
Capital's acquisition program focuses on existing commercial income
producing properties in Florida's growth markets. The company
targets office, retail and industrial real estate.
Snapper Creek Equity Management, LLC is a wholly-owned
subsidiary of Woodbridge Holdings Corporation focused on activities
related to investing in and acquiring mid-market diverse operating
businesses.
For further information, please visit our websites:
www.WoodbridgeHoldings.com
www.CoreCommunities.com
www.CypressCreekCapital.com
www.SnapperCreek.com
*To receive future Woodbridge Holdings Corporation news releases
or announcements directly via Email, please click on the Email
Broadcast Sign Up button on our website:
www.WoodbridgeHoldings.com.
Some of the statements contained herein include forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, that involve substantial risks and
uncertainties. Some of the forward-looking statements can be
identified by the use of words such as "anticipate," "believe,"
"estimate," "may," "intend," "expect," "will," "should," "seek" or
other similar expressions. Forward-looking statements are based
largely on management's expectations and involve inherent risks and
uncertainties, including, without limitation, the risk that
Woodbridge's Class A Common Stock may not be quoted on the OTCQX
when expected, if at all. In addition to the risks and
uncertainties set forth above, investors should also consider the
risks and uncertainties discussed in Woodbridge's filings with the
Securities and Exchange Commission, including, without limitation,
the risks and uncertainties discussed under the heading "Risk
Factors" in such filings.
Woodbridge Holdings Corporation Contact Information: Investor
Relations: Leo Hinkley SVP, Investor Relations Officer Phone: (954)
940-4995 Fax: (954) 940-5320 Email: Email Contact
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