American Spectrum Realty, Houston, said its board of directors has determined that it is not in the best interests of the company to restructure as a real estate investment trust.As part of this decision, the company is seeking to eliminate from its Articles of Incorporation restrictive provisions on stock ownership. Those restrictions were put in to preserve American Spectrum's ability to elect to become a REIT. A vote to remove the restrictions will take place at its annual meeting in Houston on May 5.
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