AAR’s board of directors has adopted a limited duration stockholder rights plan and declared a non-cash dividend distribution of one preferred share purchase right for each share of AAR’s common stock outstanding as of April 9, 2020, the record date, the company announced on Monday.

The plan has intended to protect the interests of the company and its stockholders by reducing the likelihood that any person or group gains control of AAR through open market accumulation or other tactics without paying an appropriate control premium.

The board has noted that in light of COVID-19, the closing price of AAR’s common stock is around 60 percent below the price in February. The board commented that the adoption of the rights plan has enabled the board to have sufficient time to make informed judgments and decisions that are in the best long-term interests of QTS and its stockholders.

The rights will become available when a person or group acquires 10 percent, or 20 percent in the case of passive investors who are eligible to, and do, report their holdings on Schedule 13G, or more of the outstanding common stock of AAR without board approval.

In the event the rights become exercisable, each right will entitle stockholders to buy one one-thousandth of a share of a new Series A junior participating preferred stock at an exercise price of $100.00.

Additional details regarding the Rights Plan will be contained in a Form 8-K to be filed by the Company with the U.S. Securities and Exchange Commission on March 30, 2020. The Rights Plan will expire, without any further action required by the Board of Directors, on February 28, 2021.

About AAR

AAR is a global aerospace and defense aftermarket solutions Company that employs more than 6,000 people in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include parts supply; OEM solutions; integrated solutions; maintenance, repair, overhaul; and engineering. AAR’s Expeditionary Services include mobility systems and composite manufacturing operations.

QTS Realty Trust has announced new initiatives to further support its local communities, employees and customers during the COVID-19 pandemic, the company reported on Monday.

As COVID-19 pandemic has closed schools, creates job disruptions and health risks, Americans may need to turn to food banks for much-needed support. The food banks are currently under stress to fulfill missions.

QTS will make an additional cash donation to eleven food banks in local communities. The company has established a program in partnership with several leading financial institutions to assist current and prospective customers, who have experienced disruption in their business as a result of the COVID-19 pandemic.

The program will seek to help customers with the application and other information needed to potentially qualify for a Small Business Association (SBA) loan, as part of the recently enacted Coronavirus Aid, Relief and Economic Security (CARES) Act.

QTS will also continue to support customers during the COVID-19 pandemic by providing software-defined orchestration capability to remotely access, monitor and manage their data center infrastructure through QTS’ Service Delivery Platform.

QTS has published its COVID-19 response plan for customers, employees and partners. The Company has prepared to provide employees with additional relief such as extended time off for managing illness and financial assistance for employee family hardship.

“QTS recognizes the serious impact of this pandemic,” said Chad Williams, QTS CEO. “I have been entrusted with the stewardship of our people, customers and communities. Coming off a year of record volunteerism at QTS in 2019, we believe it is our obligation to step up where we can and provide additional resources to those in need within our local communities.”

About QTS 

QTS Realty Trust, Inc. (NYSE: QTS) is a leading provider of data center solutions across a diverse footprint spanning more than 7 million square feet of owned mega scale data center space within North America and Europe. Through its software-defined technology platform, QTS is able to deliver secure, compliant infrastructure solutions, robust connectivity and premium customer service to leading hyperscale technology companies, enterprises, and government entities.

The U.S. Air Force’s 89th Airlift Wing accepted delivery of a new twin-engine turbofan aircraft Wednesday at Joint Base Andrews in Maryland from the AF Life Cycle Management Center one week ahead of time.

AFLCMC said Friday its presidential and executive airlift division delivered the C-37B plane, which is built to transport high-ranking U.S. government and defense officials, one week ahead of time.

C-37B is derived from the Gulfstream 550 airframe and designed to travel at a distance of 7,768 miles. The aircraft can accommodate up to 12 passengers.

Gulfstream, a subsidiary of General Dynamics, secured a $127M contract in January to build two airlifters.

The service branch expects to receive the additional C-37Bs by the end of the government’s 2021 fiscal year. Delivery of the two planes will bring the fleet size to 16 aircraft.