SOURCE: Lapis Investment Business Trust

Lapis Investment Business Trust

January 19, 2011 20:40 ET

Lapis Investment Business Trust Changes Depositary of Inland American Tender Offer

MORAGA, CA--(Marketwire - January 19, 2011) - Lapis Investment Business Trust has amended its tender offer for Inland American Real Estate Investment Trust to remove Prodigious, LLC as the Depositary and to clarify its involvement as follows. Mail may still be sent to Prodigious, and it will be promptly forwarded to Lapis and be processed by Lapis staff and/or its agents. Lapis recognizes that the manner in which this mailing was conducted may have made it appear as though Prodigious and its agents were to play a role in this tender offer that it was never going to play. Although Lapis intended for Prodigious to serve as the depositary for this tender offer, and as such, had return mail and any undeliverable mail directed to its offices, the appearance of their name and addresses on the envelopes made it appear they had some role in the making of the offer. To be clear, Prodigious had nothing to do with the decision to make this offer, has no economic interest in this offer, is not affiliated with Lapis, and was in no way involved in the offer other than to serve as the recipient and processor of the mail. This offer appeared different because the mail was directed directly to Prodigious.

Please notice the economic responsibility and all other aspects of this offer are the sole responsibility of Lapis. At no time was Prodigious made a party to this tender offer or would earn any economic benefit from the purchase of the shares in this tender offer other than for its services as transfer agent. Prodigious was not provided a copy of this tender offer prior to its dissemination, and was not a party at any time in its crafting.

Contact Information

  • Contact:
    Kjerstin Hatch
    Managing Principal
    (415) 376-6286