Orlando, FL (PRWEB) June 27, 2013
CNL Life style Properties, Inc. (the Business) announced that at its 2013 Annual Meeting of Stockholders held earlier nowadays (the Annual Meeting), the stockholders voted to approve the re-election of the Companys Board of Directors (the Board), the ratification of the Companys independent public accountants, and an amendment to the Companys bylaws (the Bylaws) conferring authority on the Board to amend the Bylaws. The stockholders also authorized a quantity of amendments to the Companys articles of organization (the Charter) relating to any future dissolution of the Organization, the election of directors, extraordinary transactions, the removal of specific limitations below the Statement of Policy Concerning True Estate Investment Trusts as revised and adopted by the membership of the North American Securities Administrators Association on May possibly 7, 2007, opting out of the Maryland Enterprise Combination Act and the Maryland Control Share Acquisition Act, and numerous conforming and ministerial modifications.

In addition, the stockholders voted to adjourn the Annual Meeting to enable additional time for the vote on a number of further amendments to the Companys Charter (the Remaining Proposals). The Annual Meeting will reconvene at 1:00 p.m., Eastern Daylight Savings Time, on Friday, July 26, 2013, at the Companys offices positioned at CNL Center at City Commons, 450 South Orange Avenue, 12th Floor, Orlando, Florida 32801 (the Adjourned Meeting).

The affirmative vote of the holders of two-thirds of the outstanding shares of frequent stock entitled to vote at the Annual Meeting is required for the passage of each of the Remaining Proposals, which is a larger voting normal than that which was needed to approve the proposals that have been passed by stockholders at the Annual Meeting right now. The Board believes the Remaining Proposals are critical to the Companys future and give consistency with state law and other REITs. The Remaining Proposals consist of additional amendments to the Charter regarding (i) the number of directors of the Business (ii) any future termination of the Companys status as a real estate investment trust for federal revenue tax purposes (iii) amendments to the Bylaws (iv) amendments to the Charter and (v) mergers, reorganizations, and so forth., all as a lot more completely described in the Companys proxy statement for its 2013 Annual Meeting, which was filed with the Securities and Exchange Commission (the SEC) on April 29, 2013. The adoption by the Organization of the Bylaw amendment authorized by the stockholders at the Annual Meeting these days remains subject to the stockholders approval at the Adjourned Meeting of the proposal relating to an amendment to the Charter with regards to Bylaw amendments. Stockholders are urged to read the proxy statement and other relevant Organization documents filed with the SEC.

During the period of the adjournment, the Business will continue to solicit proxies from its stockholders. Stockholders who have already voted need not take any action, even though they may possibly adjust their vote by executing a new proxy, revoking a previously provided proxy, or attending the 2013 Annual Meeting when it reconvenes on Friday, July 26, 2013 and voting in person. Stockholders who have not yet voted or want to adjust their votes, may vote by phone or through the Internet employing the instructions provided in their voting instruction kind or proxy card. Stockholders could also contact Broadridge Investor Communications Options, Inc., the Companys proxy solicitor (Broadridge), toll free of charge at (877) 780-4190 if they want help with voting.

About CNL Way of life Properties

CNL Life style Properties, Inc. is a real estate investment trust that owns a portfolio of 176 properties in the United States and Canada in the life style sectors. Headquartered in Orlando, Fla., CNL Way of life Properties specializes in the acquisition of ski and mountain life style, attractions, golf, marinas, senior housing and added way of life properties. For far more info, pay a visit to http://www.CNLLifestyleREIT.com.

About CNL Financial Group

CNL Monetary Group (CNL) is a leading private investment management firm offering worldwide real estate and alternative investments. Given that inception in 1973, CNL and/or its affiliates have formed or acquired firms with far more than $ 26 billion in assets. CNL is headquartered in Orlando, Florida. For far more data, go to http://www.cnl.com.

Caution Concerning Forward-Searching Statements

Particular data above might constitute forward-looking statements within the which means of the Federal Private Securities Litigation Reform Act of 1995. The Business intends that such forward-hunting statements be topic to the secure harbors produced by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-seeking statements are statements that do not relate strictly to historical or current details, but reflect management’s current understandings, intentions, beliefs, plans, expectations, assumptions and/or predictions concerning the future of the Company’s business and its performance, the economy, and other future circumstances and forecasts of future events, and circumstances. The Companys forward-looking statements are not guarantees of future efficiency, and actual outcomes could differ materially from those set forth in the forward-hunting statements due to and a assortment of risks, uncertainties and other variables, several of which are beyond the Companys capability to control or accurately predict. Given these uncertainties, the Company cautions you not to place undue reliance on such statements.

For additional info regarding risks and uncertainties linked with the Companys business, and crucial factors that could result in the Company’s actual final results to differ materially from those expressed or implied in its forward-hunting statements, please refer to the variables listed and described under Managements Discussion and Analysis of Monetary Condition and Final results of Operations and the Danger Aspects sections of the Companys documents filed from time to time with the U.S. Securities and Exchange Commission, including, but not restricted to, the Companys quarterly reports on Type ten-Q and the Companys annual report on Kind ten-K, copies of which could be obtained from the Companys web site at http://www.CNLLifestyleREIT.com. Forward-searching statements speak only as of the date on which they are made the Organization undertakes no obligation to, and expressly disclaims any obligation to, update or revise its forward-looking statements to reflect new details, changed assumptions, the occurrence of subsequent events, or adjustments to future operating results over time unless otherwise required by law.





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