Gyrodyne Company of America Inc. announced on Tuesday that a special shareholders meeting, originally scheduled for Aug. 14 and rescheduled earlier this month for Aug. 27, has again been postponed.
The company expects to hold the special meeting at the same time as its annual shareholders meeting at a date and time to be announced later. Gyrodyne officials said the further postponement of the special meeting was necessary because the company has yet to receive either the majority needed for a quorum or the vote of two-thirds of the outstanding shares of the company’s common stock needed to authorize a previously-announced merger transaction.
Gyrodyne Company of America is seeking a vote of its shareholders to authorize a merger transaction under which the company and Gyrodyne Special Distribution L.L.C. will merge into Gyrodyne L.L.C.
Gyrodyne, a real estate investment trust, manages a diversified portfolio of real estate properties including a medical office building in Cortlandt Manor. The company is based in St. James, Suffolk County.
