Humphrey Hospitality Trust Shareholders Elect Directors, Adjourn Meeting Until October 5

27th Sep 1999

At their annual meeting held Monday, September 27, 1999, shareholders of Humphrey Hospitality Trust, Inc. (Nasdaq: HUMP) elected six directors and ratified the selection of Reznick Fedder and Silverman as the company`s independent auditors for fiscal year 2000.

The meeting was then adjourned until Tuesday, October 5, 1999, when shareholders will vote on Humphrey Hospitality`s proposed merger with Supertel Hospitality, Inc.

James I. Humphrey, Jr., Chief Executive Officer and President of Humphrey Hospitality, said that as of the time of the September 27 meeting, shareholders who had submitted their proxies had voted overwhelmingly to approve the proposed Supertel merger, but the company had not yet received proxies on the merger from a substantial number of its shareholders.

“Virginia law and the company`s organizational documents require that the Supertel merger be approved by more than two-thirds of the outstanding Humphrey Hospitality shares. As of the time of the meeting, only about 60 percent of the company`s shares had voted on the merger, but more than 95 percent of those votes were for approval,” said Humphrey.

“The proposed merger with Supertel is a major transaction for Humphrey Hospitality, and we want to ensure that we have given our shareholders every opportunity to express their desire relative to the transaction ,” said Humphrey. “We hope that the shareholders who haven`t yet voted will take advantage of this adjournment to send in their proxy cards or attend the meeting next Tuesday.”


The shareholders` meeting will reconvene on Tuesday, October 5, 1999, at 10 a.m. at the Humphrey Hospitality corporate headquarters in Silver Spring, Maryland. Persons who owned shares of Humphrey Hospitality stock on August 2, 1999, are entitled to vote at the meeting.

At the meeting on Monday, Humphrey Hospitality shareholders re-elected Humphrey, Margaret Allen, Andrew Mayer, Leah Robinson, George Whittemore and Jeffrey Zwerdling to serve on the company`s Board of Directors. The directors will serve until the closing of Humphrey Hospitality`s proposed merger with Supertel or, if sooner, the 2000 meeting of the company`s shareholders.

Shareholders also voted to ratify the Board of Directors` appointment of Reznick Fedder and Silverman as Humphrey Hospitality`s independent auditors for fiscal year 2000. Reznick Fedder and Silverman has served as the company`s auditors since 1994.



Recommended for you

Follow Breaking Travel News

Travel Events Calendar

Media Partnerships

Global Restaurant Investment ForumThe Hospitality & Tourism SummitCATHIC
ITB AsiaChina Outbound Travel & Tourism MarketThe Travel Marketing Store
Serviced Apartment SummitWorld Travel MarketIMEX
AHICWTTCRoutes Online
UBM Aviation