Winston Postpones 2007 Annual Meeting
APRIL 30, 2007. Winston Hotels, Inc. (NYSE: WXH), a real estate investment trust and owner of premium limited-service, upscale extended-stay and full-service hotels, today announced that, as a result of its pending merger with Inland American Real Estate Trust, Inc. and in anticipation of a special meeting of shareholders relating to the merger, the 2007 Annual Meeting of Shareholders, previously scheduled for May 4, 2007, has been postponed indefinitely. The date of the special meeting of shareholders relating to the merger has not yet been set. Winston will announce the date, time and place of the special meeting once a final determination has been made. Winston's 2007 annual meeting of shareholders will only be held in the event the merger is not approved or otherwise does not occur, in which case a new date for the annual meeting will be announced.
The company also announced the recent sale of the 129-room Hampton Inn in Brunswick, GA for net cash proceeds totaling approximately $6.1 million, resulting in a gain on sale of approximately $2.2 million.
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