Land & Buildings has nominated two highly-qualified and experienced candidates, Donna Brandin and Jonathan Litt, for election to the LXP Board of Trustees at the upcoming 2022 Annual Meeting of Shareholders.
It is clear to us that neither this management team nor Board have the track record or a plan for the shares to trade at the private market value of the real estate, which is substantially higher than the current share price. We believe the addition of truly independent, highly qualified candidates to the Board is essential to help close the gap to NAV and to ensure shareholders’ interests remain paramount in the boardroom.
We have repeatedly attempted to work collaboratively with the Board to find a way forward that helps close the value gap between the Company’s trading price and its assets. These efforts have been uniformly rejected. This is why we have nominated two highly-qualified trustee candidates, who, if elected, we believe could help begin to reverse LXP’s track record of undervaluation and its culture of insularity.
These nominees stand ready to work with the other trustees in the boardroom to objectively evaluate the right pathway for LXP and all its shareholders.
Former Chief Financial Officer of Equity Residential (NYSE: EQR), the largest public owner and operator of apartments in the United States.
Former Chief Financial Officer of The Lightstone Group, LLC, a privately held real estate investment company.
Founder and Chief Investment Officer of Land & Buildings Investment Management.
Former Managing Director and Senior Global Real Estate Analyst at Citigroup.
Land & Buildings Nominates Donna Brandin and Jonathan Litt for Election to the Board of LXP Industrial Trust
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Land & Buildings Issues Presentation Detailing Why Shareholder Accountability is Needed at LXP Industrial Trust
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