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Ramco-Gershenson Increase Share Count

FARMINGTON HILLS, MI-In light of the company's outstanding shares and the number of shares reserved for issuance upon the exercise or conversion of options, Ramco-Gershenson is increasing its number of common stock shares available.

By Dan Heaton | Updated on June 15, 2005

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FARMINGTON HILLS, MI-Ramco-Gershenson Properties Trust is increasing the number of stock shares available in the shopping center REIT. The company’s board approved an increase in the number of common shares from 30 million to 45 million.

“In light of the number of shares we have outstanding and the number of shares we have reserved for issuance upon the exercise or conversion of options or other securities, we believe it is prudent for us to have the flexibility provided by a larger number of authorized shares,” said Dennis Gershenson, pesident and CEO. “While we continually monitor conditions in the equity markets, we have no current plans to offer any additional shares in the short term.”

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