Medalist Diversified board backs stock transfer restrictions to preserve tax benefits
MDRR•Medalist Diversified's board unanimously backed a charter amendment that would generally restrict transfers creating or increasing ownership stakes of 4.9% or more, aiming to preserve tax losses. Stockholders will vote on November 23, 2026, and management, which holds approximately 55.9% of voting securities, intends to support it.
1. Proposed charter amendment
The board adopted resolutions on October 19, 2026, to advance the amendment, subject to stockholder approval. It would generally block transfers that create shareholders owning 4.9% or more or increase existing holders' stakes, and remove existing transfer restrictions designed to preserve real estate investment trust status. Stockholders will vote November 23, 2026; management, holding approximately 55.9% of voting securities, intends to support the amendment.
