Capital Trust, Inc. Explores Strategic Alternatives
NEW YORK, May 15, 2012 /PRNewswire/ -- Capital Trust, Inc. (NYSE: CT) (the "Company") announced today that its Board of Directors (the "Board") has formed a Special Committee of the Board comprised of independent directors (the "Special Committee") to consider and explore strategic alternatives available to the Company in order to maximize shareholder value. The Special Committee intends to undertake a thorough exploration of the full range of alternatives, including a possible sale of the Company and has retained Evercore Partners to serve as its financial advisor.
No decision has been made to engage in a transaction or transactions resulting from the Special Committee's exploration of strategic alternatives. There can be no assurance that that the Special Committee or the Board will authorize the pursuit of any strategic alternative. Moreover, there can be no assurance with respect to the terms or the timing of any transaction, or whether a transaction will ultimately result at all.
As a matter of policy, the Company does not comment on or provide the market with updates as to the status of any informal expressions of interest or formal proposals or offers presented to the Company from time to time, or the course of discussions with any prospective counterparties, nor will it comment upon any rumors with regard to either of the foregoing or make a further announcement regarding the Special Committee's consideration of any proposal or other expressions of interest until such time, if ever, that it enters into a definitive agreement for a completed transaction or is otherwise required to make an announcement.
Forward-Looking StatementsThis news release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to future financial results and business prospects. The forward-looking statements contained in this news release are subject to certain risks and uncertainties including, but not limited to, the performance of the Company's investments, the timing of collections, its capability to repay indebtedness as it comes due, competition for servicing and investment management assignments, its ability to originate investments, the availability of capital and the Company's tax status, as well as other risks indicated from time to time in the Company's Form 10-K and Form 10-Q filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events or circumstances.
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