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• SECOND: That the trustees of iRT, by resolution duly ~
adopted at a meeting held March 5, 1979, approved an Agree-
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• ment and-Plan of Merger (the "Merger Plan"), a copy of
which is attached hereto and incorporated herein by refer-
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ence, pursuant to which IRT and Summit would merge with and
into IRT Property Company, with IRT Property Company being
the surviving corporation. .
THIRD: That the trustees of Summit, by r-esolution f
duly adopted at a meeting held March 21, 1979, approved the -
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Merger Plan pursuant to which Summit and IRT would merge
with and into IRT Property Company, with IRT Property
Company being the surviving corporation.
FOURTH: That the Merger Plan and the merger con-
templated thereby was consented to and approved by the
.holders of at least two-thirds (2/3) of the outstanding
shares of beneficial interest of IRT at a meeting duly
called and held on May 18, ,1979 after at least 20 days'
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notice of the purpose of the meeting having been mailed to
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each shareholder of IRT at his address as it appeared in
the records of the trust.
Pursuant to Section 13.2 of IRT's Amended and Restated
Declaration of Trust, as most recently amended, the affirma-
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tive vote of the holders of two-thirds (2/3) of IRT's
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shares of beneficial interest then outstanding is required y
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to approve and consent to the merger of IRT with another
trust or corporation. On May 18, 1979, IRT had 1,478,627.
shares of beneficial interest issued and outstanding (exclu-
2 X314 r~1fl12
e,