Consolidated-Tomoka Land Co. (NYSE MKT:CTO) (the “Company”) today
announced that William H. Davison informed the Company of his intentions
to not stand for re-election to the Board of Directors at the end of his
term at the annual meeting of shareholders to be held in April 2014.
Jeffry B. Fuqua, Chairman of the Board, stated, “Mr. Davison has
provided valuable leadership and has made significant contributions to
the Company during his tenure as a Director.” Mr. Fuqua also noted that
“Early in 2012 the Board determined that it intended to reduce the size
of the Board to seven by 2014 to bring the Company’s Board size to a
more appropriate level. With Mr. Davison’s decision to not stand for
re-election, the number of directors will be seven following the annual
meeting. The Board and the staff of the Company wish Mr. Davison the
very best.”
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, as well as over 10,000 acres
of land in the Daytona Beach area. Visit 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. The words
“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. Forward-looking statements are made based
upon management’s expectations and beliefs concerning future
developments and their potential effect upon the Company. 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.
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