DENVER-The board of AmeriVest voted to continue the suspension of its common dividend for the second quarter. This allows the company to conserve cash, while it charts its future.
Since December, the company has been actively exploring and evaluating various strategic options for the company. Possibilities include identifying an institutional capital partner or partners to assist in the company's growth, a sale or recapitalization of all or a portion of the company's properties, and the potential sale or merger of the company.
The company has met with a number of potential investors and has received proposals for a broad range of possible transactions. The board is actively evaluating these proposals with a view towards completing the process in the near term, according to a statement released this week. The board reiterated that the company will consider all of its options, and there can be no assurance of any particular outcome from this review.
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