SOURCE: Tarragon Corporation

February 21, 2008 18:58 ET

Tarragon Announces Date for Annual Meeting of Stockholders

NEW YORK, NY--(Marketwire - February 21, 2008) - Tarragon Corporation (NASDAQ: TARR) today announced that it will hold its Annual Meeting of Stockholders on Thursday, May 1, 2008 at 4:00 p.m. EDT, at its corporate headquarters located at 423 West 55th Street, 12th Floor, New York, New York, 10019. The record date for stockholders entitled to notice of and to vote at the Annual Meeting will be March 10, 2008.

To be considered for inclusion in the Company's proxy materials for the Annual Meeting, stockholder proposals must be received by the Company in writing at 3100 Monticello Ave., Suite 200, Dallas, Texas 75205 by the close of business on March 10, 2008, and otherwise comply with all requirements of the Securities and Exchange Commission for stockholder proposals. All proposals should be addressed to the Company's corporate secretary at the foregoing address.

On January 4, 2008 the Company received a notice of noncompliance from the staff of NASDAQ Stock Market LLC ("NASDAQ"), pursuant to NASDAQ Marketplace Rule 4350(e) and (g), due to the Company's failure to hold its 2007 Annual Meeting of Stockholders by December 31, 2007. This notice indicated that, due to such noncompliance, the Company's common stock would be delisted from NASDAQ unless the Company requested a hearing before the NASDAQ Listing Qualifications Panel (the "Panel").

At a hearing before the Panel, held on February 21, 2008, the Company requested that NASDAQ grant an exception to the Marketplace Rules to allow the Company to solicit proxies and to convene a joint 2007/2008 Annual Meeting of Stockholders according to the schedule described above, at which time the Company expects that it will have returned to full compliance with all applicable Marketplace Rules. There can be no assurance that the Panel will grant the Company's request. Pending the issuance of a decision by the Panel, the Company's common stock will continue to be listed on NASDAQ.

About Tarragon Corporation

Tarragon Corporation is a leading developer of multifamily housing for rent and for sale. Tarragon's operations are concentrated in the Northeast, Florida, Texas and Tennessee. To learn more about Tarragon Corporation, visit: www.tarragoncorp.com.

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Contact Information

  • Contacts:

    Broadgate Consultants, LLC
    Alan H. Oshiki
    (212) 232-2222
    Email Contact

    Tarragon Corporation
    William S. Friedman
    (212) 949-5000
    Email Contact