CCG Issues Statement in Response to Clinton Group and Campus Evolution Villages
CHARLOTTE, N.C., Feb. 17, 2015 /PRNewswire/ -- Campus Crest Communities, Inc. (NYSE: CCG) (the "Company" or "Campus Crest"), an owner and manager of high-quality student housing properties, today issued the following statement in response to a press release from Clinton Group, Inc. ("Clinton") and Campus Evolution Villages, LLC ("Campus Evolution Villages" or "CEV"):
The Campus Crest Board of Directors and management team are committed to acting in the best interests of all Campus Crest shareholders. We maintain open, constructive communication with our shareholders and value their input towards enhancing value.
To ensure that we are maximizing shareholder value, and as previously announced, Campus Crest is conducting a comprehensive and thorough analysis of all potential financial and strategic alternatives. In fact, members of the Campus Crest Board and management team have held discussions with representatives of both Clinton and CEV and encourage them to participate in this ongoing process.
We remain committed to driving value for shareholders and will continue to execute upon our strategic repositioning while proactively reviewing the highly qualified inquiries we are receiving. We look forward to continuing our dialogue with our shareholders as we execute on our plans in the exciting year ahead.
Moelis & Company LLC is acting as financial advisor to the Company and Kilpatrick Townsend & Stockton LLP is acting as legal counsel.
About Campus Crest Communities, Inc.
Campus Crest Communities, Inc. is a leading owner and manager of high-quality student housing properties located close to college campuses in targeted markets. It has ownership interests in 86 student housing properties with over 46,000 beds across North America. Additional information can be found on the Company's website at http://www.campuscrest.com.
Forward-Looking Statements
Forward-looking statements involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements. Please refer to the documents filed by Campus Crest Communities, Inc. with the SEC, specifically the most recent reports on Forms 10-K and 10-Q, which identify important risk factors which could cause actual results to differ from those contained in the forward-looking statements.
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SOURCE Campus Crest Communities, Inc.
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