Spirit Finance Corporation Stockholders Approve the Merger with Macquarie-Led Consortium
Spirit Finance Corporation (NYSE: SFC) (the “Company” or “Spirit Finance”) today announced that at the Company’s 2007 Annual Meeting of Stockholders, the Company’s stockholders approved the acquisition of Spirit Finance by a consortium of investors including Macquarie Bank Limited, Kaupthing Bank hf. and other independent equity participants (collectively, the “Consortium”) through a merger of the Company with Redford MergerCo. The merger transaction remains subject to the satisfaction of additional closing conditions, including the receipt of consents to the merger from certain of the Company’s lenders, which is expected to occur within the next 60 days.
Separately, the Company has declared a cash dividend of $0.22 per common share for the second quarter ended June 30, 2007. The dividend is payable July 25, 2007 to stockholders of record on July 15, 2007. A prorated dividend for the period beginning July 1, 2007 through the effective date of the merger is expected to be declared in connection with completion of the merger.
About Spirit Finance Corporation
Spirit Finance Corporation provides customized, flexible sale/leaseback financing solutions for single tenant, operationally essential real estate assets that are vital to the operations of retail, service and distribution companies. The Company’s core markets include free-standing automotive dealers, parts and service facilities, drugstores, educational facilities, movie theaters, restaurants, supermarkets, and other retail, distribution and service businesses. Additional information about Spirit Finance Corporation is available on its website at www.spiritfinance.com.
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