AshfordHospitality Trust Inc. plans to redeem all of its issued andoutstanding shares of 9.00% series E cumulative preferred stock, the companysaid.
The redemption is conditioned upon the closing of thecompany's offering ofseries F preferred stock.
The shares are to be redeemed on Aug. 8 at a price of $25.00per share, plus accrued and unpaid dividends to, but not including, theredemption date, in an amount equal to 23.125 cents per share, for a totalredemption price of $25.23125 per share.
The redemption price will be payable in cash, withoutinterest, as soon as practicable after the redemption date. Dividends on thestock will cease to accrue on the day prior to the redemption date, and tradingin the stock on the NYSE will end after the redemption date.