FREEHOLD, N.J., Feb. 08, 2022 (GLOBE NEWSWIRE) — UMH Properties, Inc. (NYSE: UMH), today announced that its common stock has been approved for listing on the Tel Aviv Stock Exchange (TASE). Trading on the TASE is expected to begin on or about Wednesday, February 9, 2022, under the symbol UMH.
UMH’s common stock will continue to be listed on the New York Stock Exchange (NYSE) and the Company will remain subject to the rules and regulations applicable to NYSE-listed companies. Investors should note that trading on the TASE takes place Sunday through Thursday from 9:30 a.m. to 5:30 p.m. Israel time, excluding TASE holidays. The TASE clearinghouse is electronically linked to the Depository Trust Company, a subsidiary of the Depository Trust & Clearing Corporation, to automate cross-border settlement of stocks listed on both the TASE and the NYSE. No new ordinary shares of the Company are issued in connection with the TASE listing.
Samuel A. Landy, President and CEO, said, “We are proud to be the first dual-listing NYSE listed REIT in Israel and the il.A+ rating we have received at the company of S&P Global Ratings Maalot Ltd. , an Israeli rating agency. We are excited to create an opportunity for the Israeli public to invest in our business and the prefab home industry. The additional liquidity of our common stock and the Company’s increased access to capital should benefit our shareholders.
ABOUT UMH PROPERTIES, INC.
UMH Properties, Inc., which was incorporated in 1968, is a public REIT that owns and operates 127 manufactured home communities with approximately 24,000 developed residential sites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, and South Carolina. UMH also owns and operates a community in Florida, containing 219 locations, through its joint venture with Nuveen Real Estate.
This press release may contain statements that are not historical facts and may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and the Section 21E of the Securities Exchange Act. of 1934, as amended (the “Exchange Act”). Forward-looking statements provide our current expectations or predictions of future events. Forward-looking statements include statements about the Company’s expectations, beliefs, intentions, plans, objectives, goals, strategies, future events, performance and underlying assumptions and other statements that do not are not historical facts. Forward-looking statements can be identified by their use of forward-looking words, such as “may”, “will”, “anticipate”, “expect”, “believe”, “intend”, “plan”, “should”, “seek” or comparable terms, or the negative use of such words, but the absence of such words does not necessarily mean that a statement is not forward-looking.
Forward-looking statements are based on our beliefs, assumptions and expectations about our future performance, taking into account all information currently available to us. Forward-looking statements are not predictions of future events. These beliefs, assumptions and expectations may change due to many possible events or factors, not all of which are known to us. Any forward-looking statement speaks only as of the date on which it is made. New risks and uncertainties arise over time, and it is not possible for us to predict these events or how they may affect us. Except as required by law, we are under no obligation and do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Nelli Madden
# # # # #