NEW YORK, Dec. 19, 2019 /PRNewswire/ -- The Stilwell
Group ("Stilwell"), the largest shareholder of Wheeler Real Estate
Investment Trust, Inc. ("Wheeler"
or the "Company")(NASDAQ:WHLR, WHLRP, WHLRD), today announced that
based on preliminary voting results from Wheeler's Annual Meeting of Shareholders held
today, Wheeler shareholders have
elected all three of Stilwell's director nominees, Joseph D. Stilwell, Paula J. Poskon and Kerry G. Campbell, to Wheeler's Board of Directors. The
results are expected to be certified in the coming days.
Stilwell also announced that it released the following remarks
made by Joe Stilwell during today's
Annual Meeting:
"When the results are certified in the coming days, the legacy
directors will likely have lost by a margin of better than 8-1 –
which they richly deserved given their dirty campaign and their
incompetence in discharging their duties.
Now that the board is largely cleaned-up, we'll work to clean up
management, straighten out the
organization, and rationalize the corporate capital structure.
Based on my discussions with the major shareholders, we all want to
see this company returned to health and continue as a viable REIT.
We're willing to provide the time and support necessary to
accomplish this goal.
My Group's nominees now no longer represent The Stilwell Group;
they represent the common
shareholders of WHLR. We will work with the other newly elected
directors and with Andy Jones to
take all appropriate actions with the greatest possible
dispatch.
Thank you."
Investor Contact:
The Stilwell Group
Megan Parisi
(917) 881-8076
mparisi@stilwellgroup.com
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content:http://www.prnewswire.com/news-releases/the-stilwell-group-receives-overwhelming-support-to-elect-all-three-of-its-nominees-to-wheelers-board-at-todays-annual-meeting-based-on-preliminary-voting-results-300977829.html
SOURCE The Stilwell Group