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Stock impact report

BRIEF-Acre Realty Investors announces board approval of dissolution [Reuters]

ACRE REALTY INVESTORS INC (AIII) 
Company Research Source: Reuters
BRIEF-Acre Realty Investors announces board approval of dissolutionJune 27 Acre Realty Investors Inc:* Acre Realty Investors Inc announces board approval ofdissolution* Company's dissolution was unanimously approved by board ofdirectors but is subject to shareholder approval* If approved by company's shareholders, company intends tofile notice of intent to dissolve with Georgia Secretary ofState* Intends to liquidate assets, make adequate provision forall of existing and foreseeable debts, liabilities andobligations* Board determined it is in best interests of co'sshareholders for co to dissolve, liquidate, distribute toshareholders available assets* As of June 27 had one remaining land asset known asHighway 20 property which is under contract to be sold for $4.7million?* Company will file prescribed proxy materials withsecurities and exchange commission in advance of special meeting* Intends to present the proposal to its shareholders at aspecial meeting of shareholders* Company expe Show less Read more
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