UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 30, 2005
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ONE LIBERTY PROPERTIES, INC.
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(Exact name of Registrant as specified in charter)
Maryland 001-09279 13-3147497
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(State or other (Commission file No.) (IRS Employer
jurisdiction of I.D. No.)
incorporation)
60 Cutter Mill Road, Suite 303, Great Neck, New York 11021
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code 516-466-3100
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
On September 30, 2005, the Board of Directors of the registrant elected Patrick
J. Callan, Jr. as its President effective January 3, 2006. The commencement date
of Mr. Callan's employment with the registrant may be accelerated in the event
his current responsibilities permit an accelerated effective date. Mr. Callan,
43, has served as a member of the Board of Directors of the registrant since
June 2002.
From March 2004 to the present, Mr. Callan has been a Senior Vice President of
First Washington Realty, a privately owned real estate investment, advisory and
management company. For approximately 17 years prior to joining First
Washington, Mr. Callan was employed by Kimco Realty Corporation, a publicly
traded real estate investment trust, where he served in various capacities,
including Director of Real Estate and Vice President.
There is no arrangement or understanding pursuant to which Mr. Callan was
appointed to his position as President of the registrant, and there are no
transactions pending or proposed to which the registrant or its affiliates are a
party and which Mr. Callan will have a direct or indirect material interest. Mr.
Callan does not have a family relationship with any director or executive
officer of the registrant. The registrant and Mr. Callan have not entered into
an employment agreement.
Item 9.01. Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired. Not applicable.
(b) Pro Forma Financial Information. Not applicable.
(c) Exhibits.
99.1 Press Release, dated October 3, 2005, announcing the
election of Patrick Callan, Jr. as President.
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ONE LIBERTY PROPERTIES, INC.
Date: October 3, 2005 By: /s/ Simeon Brinberg
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Simeon Brinberg
Senior Vice President
ONE LIBERTY PROPERTIES, INC.
60 Cutter Mill Road - Suite 303
Great Neck, New York 11021
www.onelibertyproperties.com
Telephone 516.466.3100
Telecopier 516.466.3132
ONE LIBERTY PROPERTIES ELECTS NEW PRESIDENT
Great Neck, New York - October 3, 2005 - One Liberty Properties, Inc. (NYSE:OLP)
announced that on September 30, 2005, One Liberty's Board of Directors elected
Patrick J. Callan, Jr. as its President effective January 3, 2006. The
commencement date of Mr. Callan's employment with One Liberty may be accelerated
in the event his current responsibilities permit an accelerated effective date.
Mr. Callan has served as a member of One Liberty's Board of Directors since June
2002.
From March 2004 to the present, Mr. Callan has been a Senior Vice President of
First Washington Realty, a privately owned real estate investment, advisory and
management company. For approximately 17 years prior to joining First
Washington, Mr. Callan was employed by Kimco Realty Corporation, a publicly
traded real estate investment trust, where he served in various capacities,
including Director of Real Estate and Vice President.
Fredric H. Gould, Chairman of the Board of One Liberty, stated, "We are very
pleased that Patrick J. Callan, Jr. will be joining One Liberty as its
President. With more than 18 years of in-depth real estate experience and with
the knowledge of our Company that he has acquired as a director, Patrick will
continue to be a great asset to One Liberty and a wonderful addition to our
executive team."
Fredric H. Gould will continue to serve as Chief Executive Officer and Chairman
of the Board of One Liberty.
One Liberty is a New York-based REIT that specializes in the acquisition and
ownership of a diverse portfolio of real estate properties under long term net
leases. For more information on One Liberty, please visit our website at
www.onelibertyproperties.com.
Materials included in this filing may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that could cause actual results to be materially different from
historical results or from any future results expressed or implied by such
forward-looking statements. Statements that include the words "may," "will,"
"would," "could," "should," "believes," "estimates," "projects," "potential,"
"expects," "plans," "anticipates," "intends," "continues," "forecast,"
"designed," "goal," or the negative of those words or other comparable words
should be considered uncertain and forward-looking.
Contact: Simeon Brinberg - 516.466.3100