DAYTONA BEACH, Fla.--(BUSINESS WIRE)--The Annual Meeting of Shareholders of Consolidated-Tomoka Land Co. (NYSE Amex:CTO) was held today at LPGA International in Daytona Beach, Florida. The Company announced that shareholders of the Company had elected Directors John J. Allen and William L. Olivari for a one-year term; and John P. Albright as a Class II Classified Director serving the remainder of a two-year term. Other continuing Directors are: William H. Davison, Jeffry B. Fuqua, Howard C. Serkin, Linda Loomis Shelley, A. Chester Skinner, III, and Thomas P. Warlow, III.
Shareholders also ratified the appointment of Grant Thornton LLP as the Company’s independent public auditors for fiscal year 2012, and approved executive compensation, which was disclosed in the Company’s Proxy Statement dated March 23, 2012.
At the annual Board of Directors’ meeting following the shareholders’ meeting, Jeffry B. Fuqua, President of Amick Holding, Inc., a highway construction and land development company located in Orlando, Florida, was re-elected Chairman of the Board. The following officers were also elected: John P. Albright, President and Chief Executive Officer; Mark E. Patten, Sr. Vice President and Chief Financial Officer; Bruce W. Teeters, Sr. Vice President-Real Estate Operations; Linda Crisp, Vice President and Corporate Secretary; and Gary Moothart, Vice President and Controller.
Mr. Fuqua stated, "We are very pleased with the progress achieved in repositioning the Company for growth and increasing shareholder value."
About Consolidated-Tomoka Land Co.
Consolidated-Tomoka Land Co. is a Florida-based publicly traded real estate company, which owns over 11,000 acres in the Daytona Beach area as well as a portfolio of income properties in diversified markets throughout the United States. Visit our website at www.ctlc.com.
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.