Item 8.01 Other Events.
Refer to the current report on Form 8-K of AMREP Corporation (the "Company"),
dated September 11, 2020, which was filed with the Securities and Exchange
Commission on September 11, 2020, for detail regarding the Company's share
On November 6, 2020, the Company acquired 143,482 shares of common stock of the
Company, representing 1.9% of the Company's then outstanding shares, at a price
of $6.18 per share in a privately negotiated transaction. As of the date of the
repurchase, the repurchased shares were retired and returned to the status of
authorized but unissued shares of common stock. The share repurchase was not
completed pursuant to the Company's share repurchase program.
On November 6, 2020, the Company's previously announced share repurchase program
was terminated. In transactions pursuant and not pursuant to the Company's share
repurchase program, the Company repurchased a total of 830,945 shares from
August 25, 2020 through November 6, 2020, representing 10.2% of the Company's
outstanding shares as of August 25, 2020, for an aggregate purchase price of
$5,115,100. Immediately following the share repurchase on November 6, 2020, the
Company had 7,323,370 shares of common stock outstanding.
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