SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
December
2, 2008
Date of
Report
(Date of
earliest
event
reported)
CONSOLIDATED-TOMOKA LAND
CO.
(exact
name of registrant as specified in its charter)
FLORIDA
0-5556 59-048370
(State or
other jurisdiction of (Commission
File
Number)
(IRS Employer Identification No.)
incorporation)
1530
Cornerstone Boulevard, Suite 100
60;
Daytona Beach,
Florida
32117
(Address of principal executive
offices)
(Zip Code)
Registrant's
telephone number, including area code: (386)274-2202
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 (see General Instruction A.2. below):
[ ]
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))
FORM 8-K,
December 2, 2008
CONSOLIDATED-TOMOKA
LAND CO.
COMMISSION
FILE NO. 0-5556
EMPLOYER
ID NO. 59-0483700
Item
5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On
November 26, 2008, Linda Loomis Shelley was named by the Board of Directors of
Consolidated-Tomoka Land Co. to fill the unexpired term of Bob D. Allen, which
was created by his retirement on April 23, 2008. Ms. Shelley was
appointed as a Class I director and will stand for reelection at the Company’s
April 22, 2009 annual meeting of shareholders. The Board of
Directors has determined that Ms. Shelley qualifies as independent under the
independence standards set forth in the NYSE Alternet US Corporate Governance
Listing Standards. There are and have been no transactions, either since
the beginning of the Company’s last fiscal year or that are currently proposed,
regarding Ms. Shelley that are required to be disclosed pursuant to Item 404(a)
of Regulation S-K. No arrangement exists between Ms. Shelley and any other
person or persons pursuant to which Ms. Shelley was elected to the Board of
Directors. Ms. Shelly's compensation for her services as a director will
be consistent with that of the Company's other non-employee directors, as
described in the Company's definitive proxy statement filed with the Securities
and Exchange Commission on March 21, 2008.
Ms.
Shelley is a shareholder in the law firm of Fowler White Boggs PA
where she specializes in environmental and land use issues and chairs the firm’s
business department.
Attached
hereto as exhibit 99.1 is a copy of the press release issued December 1, 2008
announcing Ms. Shelley’s appointment to the board.
Item
9.01. Financial Statements and Exhibits.
|
(d)
|
Exhibits
|
99.1
Press Release Issued December 1, 2008
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.
CONSOLIDATED-TOMOKA LAND CO.
| Date: December 2, 2008 By: | /s/ William H. McMunn |
|
William
H. McMunn
Presdient and Chief Executive
Officer
|
For
Immediate Release
Consolidated-Tomoka
Land Co.
|
Date:
|
December
1, 2008
|
|
Contact:
|
Bruce
W. Teeters, Sr. Vice President
|
|
Phone:
|
(386)
274-2202
|
|
Facsimile:
|
(386)
274-1223
|
Consolidated-Tomoka Land Co. Names Linda Shelley to
the
Company’s Board of Directors
DAYTONA
BEACH (December 1, 2008) – Consolidated-Tomoka Land Co. (NYSE Alternext US–CTO)
announced today that it has named Linda Loomis Shelley to the Company’s Board of
Directors. Ms. Shelley, who qualifies as an independent director,
fills a vacancy on the Board created by the retirement of Bob
Allen. She will stand for election at the Company’s 2009 Annual
Meeting and serve in the class of Directors with terms expiring in
2010.
William
H. McMunn, Chairman and CEO of Consolidated-Tomoka stated, “Linda Shelley is an
accomplished professional whose background and broad experience are uniquely
relevant to our Company’s business. Linda is well known and respected
across the State of Florida and has extensive knowledge of growth management,
environmental issues, land planning, and the legislative and regulatory
process. We are very pleased to welcome Linda as a new independent
member of the Board and look forward to her contributions.”
Ms.
Shelley is a shareholder in the law firm of Fowler White Boggs PA,
where she specializes in environmental and land use issues and chairs the firm’s
business department. She has extensive experience in Florida state
government, having served in numerous key positions, including as General
Counsel to Governor Bob Graham and as Chief of Staff to Governor Lawton
Chiles. She also served as the Secretary of the Department of Community
Affairs (“DCA”). DCA is the state’s land planning and community
development agency, which ensures that new growth complies with Florida’s growth
management laws.
In
addition to other professional roles and accomplishments, Ms. Shelley is a
member or trustee of several community and professional
associations. Ms. Shelley earned her J.D. from the University of
Florida, Levin College of Law and her B.A. from the University of
Florida. She is a resident of Tallahassee,
Florida.
About Consolidated-Tomoka Land Co.
Consolidated-Tomoka
Land Co. is a Florida-based company primarily engaged in converting Company
owned agricultural lands into a portfolio of net lease income properties
strategically located in the Southeast, through the efficient utilization of
1031 tax-deferred exchanges. The Company has low long-term debt ($6.6
million) and generates over $9 million in annual before tax cash flow from its
real estate portfolio. The Company also engages in selective
self-development of targeted income properties. The Company’s adopted strategy
is designed to provide the financial strength and cash flow to weather difficult
real estate cycles. Visit our website at www.ctlc.com.