Cygnus Capital Issues Statement Regarding the Right of Holders of Preferred Shares of Pennsylvania Real Estate Investment Trust to Elect Two Board Trustees at the Recently Adjourned 2022 Annual Meeting of Shareholders

Details Voting Intentions and Reasons Why There Is Urgency to Add Two Independent Preferred Stock Trustees to the Board ATLANTA , July 7, 2022 /PRNewswire/ -- Cygnus Capital, Inc. (together with its affiliates, "Cygnus"), a significant and long-term shareholder of beneficial interests and preferred shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI ) ("PEI" or the "Trust"), today issued a statement regarding Cygnus' voting intentions with respect to the 2022 Annual Meeting of Shareholders, originally held on June 2, 2022 , and adjourned to 11:00 a.m. Eastern Time on August 2, 2022 (the "Annual Meeting"). Holders of record as of the close of business on April 11, 2022 , the record date for the Annual Meeting, of PEI's 7.375% Series B Cumulative Redeemable Perpetual Preferred Shares, 7.20% Series C Cumulative Redeemable Perpetual Preferred Shares and 6.875% Series D Cumulative Redeemable Perpetual Preferred Shares (collectively, the "Preferred Shares") have the right to elect two trustees (the "Preferred Trustees") to PEI's Board of Trustees (the "Board") since the Trust has not paid cash dividends on its outstanding preferred shares for six quarters. The only item on the agenda for the ... Full story available on Benzinga.com