Medalist Diversified REIT, Inc. Announces Board Changes
July 24, 2019 at 10:25 pm
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On July 18, 2019, the Board of Directors of Medalist Diversified REIT, Inc. increased its size from five to seven directors and appointed Ms. Dianna Raedle and Mr. Mark Mullinix to the Board effective immediately to serve until the next annual meeting of stockholders of the Company and until their respective successors are duly elected and qualified. The Board determined that Ms. Dianna Raedle and Mr. Mark Mullinix are independent directors under the listing standards established by the Securities and Exchange Commission and Nasdaq. There is no arrangement or understanding between Ms. Dianna Raedle or Mr. Mark Mullinix and any other persons pursuant to which Ms. Dianna Raedle or Mr. Mark Mullinix were selected as a director, and there are no transactions involving Ms. Dianna Raedle or Mr. Mark Mullinix requiring disclosure under Item 404(a) of Regulation S-K. In connection with the appointment of Ms. Dianna Raedle and Mr. Mark Mullinix to the Board, the Company expects to enter into a director agreement and an indemnification agreement with each of Ms. Dianna Raedle and Mr. Mark Mullinix in substantially the forms, subject to further adjustment in compensation, entered into by the Company with its other independent directors.
Medalist Diversified REIT, Inc. is a real estate investment trust. The Company is engaged in acquiring, repositioning, renovating, leasing, and managing income-producing properties, with a primary focus on commercial properties, including flex-industrial and retail properties, multifamily residential properties and hotel properties. The Company's segments are retail center properties and flex center properties. Retail center properties, consisting of the Franklin Square Property, have an undivided 84% tenant-in-common interest in the Hanover Square Property, the Ashley Plaza Property, the Lancer Center Property and the Salisbury Marketplace Property. Flex center properties, consisting of the Brookfield Center Property, the Greenbrier Business Center Property and an undivided 82% tenant-in-common interest in the Parkway Property. It invests in properties in the southeastern part of the United States, with a focus in Virginia, North Carolina, South Carolina, Georgia, Florida and Alabama.
MEDALIST DIVERSIFIED REIT, INC. 
