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Elme Communities Announces Suspended NYSE Trading; Anticipates Trading Will Begin OTC Effective October 26, 2026

ELME
  • The NYSE exercised discretionary authority to delist Elme Communities' common shares due to abnormally low selling price levels & immediately suspended trading.
  • Elme does not intend to appeal the delisting decision & expects shares to cease trading on the NYSE.
  • Common shares are anticipated to commence over-the-counter trading on Monday, October 26, 2026, under the symbol "ELMES".
  • The company intends to terminate its existence by voluntary dissolution effective November 6, 2026, following the NYSE delisting.
  • Share transfer books will close at the close of business on November 5, 2026.
  • Prior to dissolution, all remaining assets & liabilities will be transferred to a Maryland liquidating trust.
  • Existing shareholders will automatically receive Beneficial Interests in the liquidating trust corresponding to their prior ownership percentage.
  • Beneficial Interests in the liquidating trust will not be transferable, tradable, or represented by certificates after the asset transfer.
  • All outstanding common shares & related certificates will be automatically cancelled upon the dissolution of the company.
  • FTI Consulting, Inc. is expected to be retained to serve as the liquidating trustee & assist with the wind-down process.
  • The liquidating trust is expected to file only annual reports on Form 10-K & current reports on Form 8-K using the company's existing SEC file number.
  • Forward-looking statements in the release involve risks including potential delays, market volatility, & unknown liabilities that could affect the liquidation timeline or distributions.