– USA, TX – Stratus Properties Inc. (NASDAQ: STRS) announced today that it has entered into an agreement with Oasis Management Company Ltd. and its affiliates, pursuant to which Ella Gendel has been appointed to Stratus’ Board of Directors effective immediately. Ms. Gendel will serve as a Class III director with a term expiring at Stratus’ 2019 annual meeting of stockholders. She will serve as a member of the Compensation Committee. After the appointment of Ms. Gendel, Stratus’ Board is comprised of seven directors, including six independent directors.
Oasis, a private investment management firm headquartered in Hong Kong and with U.S. headquarters in Austin, Texas, previously disclosed that it beneficially owns approximately 1.1 million shares of Stratus’ common stock, which represents approximately 13.4% of Stratus’ issued and outstanding shares of common stock. Prior to joining Oasis in 2013, Ms. Gendel worked at GAM, a global asset management firm, from 2009 to 2013 where she helped oversee U.S. equity-hedged and event-driven investments. From 2008 to 2009, she was an investment banker at Greenhill & Co., specializing in mergers and acquisitions and restructuring. Ms. Gendel graduated with highest honors with a B.B.A. in finance from The McCombs School of Business at The University of Texas at Austin.
William H. Armstrong III, Chairman of the Board, President and Chief Executive Officer of Stratus, commented, “We welcome Ella as a new independent director and look forward to benefitting from her perspective as we continue to collaborate with Oasis to enhance value for all stockholders.”
“We appreciate the constructive engagement we have had with the Stratus Board and the productive discussions offered by all parties,” said Oasis’ U.S. portfolio manager Alexander Shoghi. “We look forward to working together with the Stratus directors and management team toward our mutual goal of positioning Stratus for continued success.”
About Stratus Properties
Stratus is a diversified real estate company engaged primarily in the acquisition, entitlement, development, management, operation and sale of commercial, hotel, entertainment, and multi- and single-family residential real estate properties, primarily located in the Austin, Texas area, but including projects in certain other select markets in Texas.
For more information : http://stratusproperties.com
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