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) November 19, 2003
-----------------
ONE LIBERTY PROPERTIES, INC.
----------------------------
(Exact name of Registrant as specified in charter)
Maryland 0-11083 13-3147497
-----------------------------------------------------------------------------
(State or other (Commission file No.) (IRS Employer
jurisdiction of I.D. No.)
incorporation)
60 Cutter Mill Road, Suite 303, Great Neck, New York 11021
--------------------------------------------------------------
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code 516-466-3100
------------
Item 9. Regulation FD Disclosure.
Attached hereto as Exhibit 99.1 is a copy of a Press Release issued by
the registrant on November 20, 2003, correcting and restating a press release
issued on November 19, 2003, with respect to the redemption of the registrant's
$16.50 cumulative convertible preferred stock.
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ONE LIBERTY PROPERTIES, INC.
Date: November 21, 2003 By: /s/ David W. Kalish
-----------------------------------
David W. Kalish
Senior Vice President
EXHIBIT INDEX
Exhibit 99.1 Press release issued on November 20, 2003, correcting and
restating a press release issued on November 19, 2003, with
respect to the redemption of the registrant's $16.50
cumulative convertible preferred stock.
Exhibit 99.1
ONE LIBERTY PROPERTIES, INC.
60 CUTTER MILL ROAD - SUITE 303
GREAT NECK, NY 11021
Telephone 516-466-3100
Telecopier 516-466-3132
www.onelibertyproperties.com
ONE LIBERTY PROPERTIES
RESTATES RELEASE ISSUED ON NOVEMBER 19, 2003
Great Neck, New York - November 20, 2003 - This release is to correct a release
issued on November 19, 2003 by One Liberty Properties, Inc. The release stated
that the closing price of the One Liberty Common Stock on November 19, 2003 was
$18.90. The closing price of the common stock on November 19, 2003 was $18.95
per share. The release, restated in its entirety with the correct price,
follows:
One Liberty Properties, Inc. (ASE: OLP; OLP Pr) today announced that its Board
of Directors has authorized the redemption of all of its 648,058 outstanding
shares of $16.50 cumulative convertible preferred stock on December 30, 2003. In
accordance with the provisions of the Company's Articles of Incorporation,
holders of the preferred stock will be entitled to receive the redemption price
of $16.50 per share plus accrued dividends at the quarterly rate of $.40 per
share of preferred stock after October 1, 2003, the most recent dividend payment
date, through the redemption date. From and after December 30, 2003 all
preferred stock shall no longer be deemed outstanding and all rights of the
holders of preferred stock shall cease and terminate, except the right to
receive the amount set forth above upon surrender of certificates representing
shares of preferred stock and satisfactory completion of materials to be sent to
preferred stockholders on or about November 26, 2003.
The preferred stock is convertible into common stock of the Company at the
option of the holder at any time prior to the close of business on December 30,
2003. The conversion rate is 0.825 of a share of common stock for each one share
of preferred stock converted. On November 19, 2003, the closing price of the
common stock on the American Stock Exchange was $18.95 and the last trade of the
preferred stock on the American Stock Exchange was at $18.75 on November 18,
2003.
The Notice of Redemption and related materials will be mailed to preferred
stockholders on or about November 26, 2003.
One Liberty Properties is a real estate investment trust and invests primarily
in improved commercial real estate under long term net lease.
Certain information contained herein is forward looking. Information regarding
certain important factors that could cause actual outcomes or other events to
differ materially from any such forward looking statements appear in the
Company's Form 10-K for the year ended December 31, 2002.
Contact: Simeon Brinberg
(516) 466-3100