Glass Lewis Joins ISS in Recommending Ashford Hospitality Trust Shareholders Vote “FOR” Both Proposals
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DALLAS, Sept. 30, 2020 /PRNewswire via COMTEX/ —
DALLAS, Sept. 30, 2020 /PRNewswire/ — Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust” or the “Company”) today announced that Glass Lewis & Co. (“Glass Lewis”), a leading independent proxy advisory firm, has recommended that Ashford Trust shareholders vote “FOR” both proposals at the October 6th Special Meeting. Glass Lewis’ recommendation follows Institutional Shareholder Services’ (“ISS”) recommendation earlier this week that shareholders also vote “FOR” both proposals.
As Glass Lewis stated in its independent report: “…we ultimately consider it reasonable that the Trust has elected to pursue an alternative which stands to reduce cash burdens, eliminate a major liquidation preference, simplify the capital structure and prospectively enhance pro forma market access. While certainly not unfettered by steep dilution to common shareholders, these benefits may be expected to contribute favorably