UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 1, 2017

 

Consolidated-Tomoka Land Co.

(Exact name of registrant as specified in its charter)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

   

 

   

 

 

 

 

 

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On March 1, 2017 Mr. Casey Wold was appointed to the Board of Directors (the “Board”) of Consolidated-Tomoka Land Co. (the “Company”). Subsequent to his appointment, the Board named Mr. Wold to the Governance Committee of the Board. There are and have been no transactions, either since the beginning of the Company’s last fiscal year or that are currently proposed, regarding Mr. Wold that are required to be disclosed pursuant to Item 404(a) of Regulation S-K. 

 

Mr. Wold founded and is Managing Partner and Chief Executive Officer of Vanderbilt Office Properties (“Vanderbilt”) and has over 35 years of institutional real estate experience. From 2004 to 2014, Mr. Wold served as Senior Managing Director at Tishman Speyer (“Tishman”) where he was a member of Tishman’s investment and management committees, and was responsible for the Midwest, Atlanta, Boston and Washington D.C. regions. Prior to that, Mr. Wold served as President of TrizecHahn Office Properties, spearheading the investment strategy and growth of its office portfolio. Mr. Wold served as Chief Investment Officer and Chief Operating Officer of Trizec Office Properties when the U.S. subsidiary went public as a real estate investment trust in 2002. Mr. Wold has served on the boards of Trizec Office Properties and Captivate Networks, Inc.

A copy of the press release announcing this appointment is furnished as an exhibit to this Form 8-K as Exhibit 99.1.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

99.1 Press Release dated March 3, 2017

 

 

 

 

 

 

 

 

 

 

 

 

   

 

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: March 3, 2017

 

 

 

By: /s/Mark E. Patten

Mark E. Patten

Senior Vice President and Chief Financial Officer

Consolidated-Tomoka Land Co.

 

 

Press       

Release

 

 

 

DAYTONA BEACH, Fla. – March 3, 2017 – Consolidated-Tomoka Land Co. (NYSE MKT: CTO) (the “Company”) today announced the appointment of Casey R. Wold to the Company’s Board of Directors (the “Board”). Mr. Wold founded and is Managing Partner and Chief Executive Officer of Vanderbilt Office Properties (“Vanderbilt”) and has over 35 years of institutional real estate experience. Vanderbilt has invested approximately $2.0 billion in office properties in growth markets in the Eastern half of the U.S. representing over 11 million square feet. From 2004 to 2014, Mr. Wold served as Senior Managing Director at Tishman Speyer (“Tishman”) where he was a member of Tishman’s investment and management committees, and was responsible for the Midwest, Atlanta, Boston and Washington D.C. regions, completing over $5.0 billion of real estate acquisitions and developments during his tenure. Prior to that, Mr. Wold served as President of TrizecHahn Office Properties, spearheading the investment strategy and growth of its office portfolio which totaled $5.0 billion in assets and 50 million square feet. Mr. Wold served as Chief Investment Officer and Chief Operating Officer of Trizec Office Properties when the U.S. subsidiary went public as a real estate investment trust (REIT) in 2002. Mr. Wold has served on the boards of Trizec Office Properties and Captivate Networks, Inc. Mr. Wold received his Bachelor of Science degree in Finance from the University of Illinois and a M.S. in Real Estate from Southern Methodist University.

Jeffry B. Fuqua, Chairman of the Board of the Company stated, “We are very pleased to welcome Casey to the Company’s Board, and we’re very fortunate to have someone of Casey’s background and experience join our Board.” Mr. Fuqua continued, “Casey’s knowledge and experience from over three decades in the real estate industry, including with public companies and REITs,  align exceptionally well with the criteria established by the Board for directors.” Mr. Fuqua also noted, “With Casey’s appointment, the Company has added the two director appointments we intended to make,  and we expect this increase in the size of our Board to nine will be temporary  as both Chip Skinner and I will not be standing for re-election and the Board intends to only nominate seven directors for election at our 2017 annual meeting of shareholders.”

 

 

 

About Consolidated-Tomoka Land Co.

 

Consolidated-Tomoka Land Co. is a Florida-based publicly traded real estate company, which owns a portfolio of income investments in diversified markets in the United States including approximately 1.7 million square feet of income properties, as well as approximately 8,200 acres of land in the Daytona Beach area. Visit our website at www.ctlc.com.

 

We encourage you to review our most recent investor presentations for year end 2016 pertaining to the results for the quarter and year ended December  31, 2016, available on our website at www.ctlc.com.  

 

SAFE HARBOR

 

Certain statements contained in this press release (other than statements of historical fact) are forward-looking statements. Words such as “believe,” “estimate,” “expect,” “intend,” “anticipate,” “will,” “could,” “may,” “should,” “plan,” “potential,” “predict,” “forecast,” “project,” and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made.  Although forward-looking statements are made based upon management’s expectations and beliefs concerning future developments and their potential effect upon the Company, a number of factors could cause the Company’s actual results to differ materially from those set forth in the forward-looking statements.  Such factors may include the completion of 1031 exchange transactions, the availability of investment properties that meet the Company’s investment goals and criteria, the modification of terms of certain land sales agreements, uncertainties associated with obtaining required governmental permits and satisfying other closing conditions, as well as the uncertainties and risk factors discussed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 as filed with the Securities and Exchange Commission.  There can be no assurance that future developments will be in accordance with management’s expectations or that the effect of future developments on the Company will be those anticipated by management.