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SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 (Amendment No. )
Filed by the Registrant [X]
Filed by a Party other than the Registrant [_]
Check the appropriate box:
[_] Preliminary Proxy Statement
[_] Confidential, for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
[_] Definitive Proxy Statement
[X] Definitive Additional Materials
[_] Soliciting Material Pursuant to Section 240.14a-11(c) or Section 240.14a-12
TIS MORTGAGE INVESTMENT COMPANY
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(Name of Registrant as Specified In Its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
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(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which
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[_] Fee paid previously with preliminary materials.
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was paid previously. Identify the previous filing by registration statement
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TIS Mortgage Investment Company
NEWS RELEASE
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FOR RELEASE: Immediately
DATE: June 29, 1999
CONTACT: John E. Castello
(415) 393-8000
TIS POSTPONES ITS JULY 2, 1999 ANNUAL MEETING OF STOCKHOLDERS TO JULY 15, 1999
SAN FRANCISCO, June 29, 1999 - TIS Mortgage Investment Company (Pacific
Exchange: TIS) today announced that it would postpone its July 2, 1999 annual
meeting of stockholders to July 15, 1999 pursuant to an order of the court in a
pending action relating to the company's annual meeting. The court recently
denied a motion in the same action to hold the company in contempt for alleged
violation of an earlier order.
The meeting was convened on June 11, 1999 and was adjourned to July 2, 1999
because the number of shares of common stock present in person and represented
by proxy was not sufficient to establish a quorum. Pursuant to the court order
to convene the meeting on July 15, 1999, the company will not reconvene the
annual meeting on July 2, 1999 as previously announced.
The meeting will reconvene on July 15, 1999, at 9 a.m., at the Park Hyatt Hotel,
located at 333 Battery Street, San Francisco, California. At the reconvened
meeting, the stockholders will be asked to elect six directors, and conduct any
other business that may properly come before the meeting.
At the June 29, 1999 hearing in the court action, the company offered to
stipulate to an order to waive its right to challenge the nominations to be made
by Frederick G. Tobin. The company had previously stated that it intended to
challenge the validity of Mr. Tobin's nominations. The court accepted the
company's offer and, therefore, pursuant to the stipulated order, the company
will accept the nominations as valid if they are made. The stipulated order
applies only to nominations by Mr. Tobin and only with respect to the 1999
annual meeting.
The Board of Directors continues to believe that Mr. Tobin's nominees do not
merit election as directors of the company and is strongly opposing their
election.
TIS Mortgage Investment Company is a San Francisco-based real estate investment
trust (REIT) that owns and operates apartment communities, located in
California's Central Valley, and shopping centers in San Francisco's North Bay
Sonoma County area, and also owns mortgage related assets.
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