GREENSBORO, N.C., Nov. 10, 2010 (GLOBE NEWSWIRE) -- Tanger Factory Outlet Centers, Inc. (NYSE:SKT) (the "Company") today announced that it will call for redemption of all its outstanding Class C Preferred Shares (the "Preferred Shares"). The Company has set December 9, 2010 as the redemption date on which all outstanding Preferred Shares will be redeemed. The redemption price will be $25.00 per Preferred Share, plus all accrued and unpaid dividends up to and including the redemption date, without interest. From the redemption date forward, dividends on the Preferred Shares will no longer accrue, and holders of the Preferred Shares will have no rights as holders of such shares other than the right to receive the $25.198 redemption price.
As of November 10, 2010, 3,000,000 shares of Preferred Shares were outstanding. The notice of redemption and related materials will be mailed to registered holders of the Preferred Shares on November 10, 2010. Certificates representing the Preferred Shares are to be surrendered to Computershare Trust Company, N.A. as redemption agent at:
By Mail: By Overnight Courier:
Computershare Trust Company, N.A. Computershare Trust Company, N.A.
P.O. Box 43011 Attn: Corporate Actions
Providence, RI 02940-3011 250 Royall Street
Canton, MA 02021
Questions relating to, and requests for additional copies of, the notice of redemption and the related materials should be directed to the redemption agent at (800) 546-5141. If you hold shares with a broker (in "street name"), you should contact your broker for further information about receiving payment for your Preferred Shares.
Tanger's common shares trade on the New York Stock Exchange under the symbol "SKT", and Tanger's Preferred Shares trade on the New York Stock Exchange under the symbol "SKT-PC".
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