AGM/EGMAug 7, 2026, 03:09 PM
Ares Real Estate Income Trust Annual Meeting Adjourned; No Quorum
AI Summary
Ares Real Estate Income Trust Inc. reconvened its 2026 Annual Meeting of Stockholders, but it was permanently adjourned due to a lack of quorum, preventing the election of directors and ratification of auditors. The company also issued $23.88 million in unregistered Class S-PR and Class I-PR shares. Additionally, the board amended its share redemption program to eliminate the Early Redemption Deduction for failure to maintain a minimum account balance.
Key Highlights
- Annual Meeting of Stockholders adjourned due to lack of 50% quorum.
- Incumbent directors will continue to serve as "holdover" directors.
- KPMG LLP will serve as auditor at the audit committee's direction.
- Issued 1,168,737 Class S-PR Shares for $9,678,265 in unregistered sales.
- Issued 1,727,341 Class I-PR Shares for $14,203,748 in unregistered sales.
- Total gross proceeds from unregistered share sales amounted to $23,882,013.
- Amended Share Redemption Program to eliminate Early Redemption Deduction.
- Deduction previously applied for failure to maintain a $2,000 minimum account balance.
Price Impact
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