DALLAS, July 30, 1999 (PRIMEZONE) -- Transcontinental Realty Investors, Inc. (NYSE:TCI) Friday announced that the special shareholder meeting to vote approval of the merger of TCI and Continental Mortgage and Equity Trust (NASDAQ: CMETS) was adjourned on July 29, 1999 and new meeting dates were set for shareholders of both REITs.
The new special meetings dates were set for 10 a.m. Central Time, Tuesday, September 28, 1999, at the companies' headquarters in Dallas. Transcontinental and Continental shareholders of record as of August 9,1999, will be eligible to vote on the proposed merger.
In a previous announcement, Transcontinental Realty Investors set August 31, 1999, as the date for its annual shareholders meeting. Shareholders of record as of July 26, 1999, will be eligible to vote to approve directors and to renew the advisory agreement with Basic Capital Management, Inc. The meeting will be held at 11 a.m. Central Time at the company's headquarters.
Transcontinental Realty Investors, Inc. and Continental Mortgage and Equity Trust are Dallas-based real estate investment trusts that operate nationwide.