-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MYNkQ+TuW76kckBVFL8faxNfvmFZVqmXx6ka4KG1IWsEOMtr6qa5cicLmC4jie7c drCtMxa8hVdNkxN/c6bkaQ== 0001193125-07-090560.txt : 20070426 0001193125-07-090560.hdr.sgml : 20070426 20070425210157 ACCESSION NUMBER: 0001193125-07-090560 CONFORMED SUBMISSION TYPE: DEFA14A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20070426 DATE AS OF CHANGE: 20070425 EFFECTIVENESS DATE: 20070426 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUBLIC STORAGE INC /CA CENTRAL INDEX KEY: 0000318380 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 953551121 STATE OF INCORPORATION: CA FISCAL YEAR END: 0307 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-08389 FILM NUMBER: 07788984 BUSINESS ADDRESS: STREET 1: 701 WESTERN AVE STREET 2: STE 200 CITY: GLENDALE STATE: CA ZIP: 91201-2349 BUSINESS PHONE: (818) 244-8080 MAIL ADDRESS: STREET 1: 701 WESTERN AVE STREET 2: SUITE 200 CITY: GLENDALE STATE: CA ZIP: 91201 FORMER COMPANY: FORMER CONFORMED NAME: STORAGE EQUITIES INC DATE OF NAME CHANGE: 19920703 DEFA14A 1 ddefa14a.htm DEFINITIVE ADDITIONAL MATERIALS Definitive additional materials

United States Securities and Exchange Commission

Washington, D.C. 20549

 

SCHEDULE 14A

Proxy Statement Pursuant To Section 14(A) of

the Securities Exchange Act of 1934

 

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 Rule 14a-11(c) or Rule 14a-12

 

 

PUBLIC STORAGE, INC.


(Name of Registrant as Specified in Its Charter)

 

 


(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

 

Payment of filing fee (Check the appropriate box):

 

x No fee required.

 

¨ Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.

 

  (1) Title of each class of securities to which transaction applies:

 

 
  (2) Aggregate number of securities to which transaction applies:

 

 
  (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined).

 

 
  (4) Proposed maximum aggregate value of transaction:

 

 
  (5) Total fee paid:

 

 

 

¨ Fee paid previously with preliminary materials.

 

¨ Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing.

 

  (1) Amount previously paid:

 

 
  (2) Form, schedule or registration statement no.:

 

 
  (3) Filing party:

 

 
  (4) Date filed:

 

 

 


LOGO®  

PUBLIC STORAGE, INC.

 

   

701 Western Avenue                                                                                                         Tel: (818) 244-8080

Glendale, CA 91201-2349                                                                                                 Fax: (818) 548-9288

YOUR VOTE AT OUR MAY 3, 2007 ANNUAL MEETING IS EXTREMELY IMPORTANT!

PLEASE VOTE YOUR SHARES TODAY!

April 25, 2007

Dear Fellow Public Storage Stockholder:

Your Company is holding a very important meeting of stockholders on May 3, 2007. Along with other matters, we are urging you to vote FOR a proposal that would allow us to reorganize from a California corporation to a Maryland real estate investment trust. We are writing to ask all stockholders – no matter how few or how many shares you may own- to vote FOR the reorganization proposal today!

Your Board of Directors has unanimously determined that the reorganization into a Maryland corporation is in the best interests of our Company and all of its stockholders and recommends that you vote FOR the proposal.

In reaching its conclusion, your Board recognized that Maryland law provides greater certainty and predictability that could benefit your investment as our Company continues to grow. Since many of our competitors already are organized under Maryland law, we also concluded that our status as a California corporation effectively places our Company at a competitive disadvantage.

WE BELIEVE THAT REORGANIZING INTO A MARYLAND REIT WILL BENEFIT YOUR

COMPANY AND YOUR INVESTMENT

Your Board believes that Public Storage will benefit in several ways by reorganizing into a Maryland REIT:

 

   

We will be governed by the Maryland REIT law, which contains provisions favorable to REITs.

   

We will join the other two-thirds of the S&P 500 REITs and NAREIT members already organized in Maryland, allowing us the same benefits already enjoyed by our competitors.

   

Maryland law offers additional protections in the event of an unsolicited takeover attempt that we believe better protect stockholder interests.

   

We expect to realize cost savings by reorganizing into a trust.

 


One of the thresholds we must pass before converting into a Maryland REIT is to obtain the affirmative approval of a majority of our outstanding common stock. As a result, your failure to vote would have the same effect as a vote against the proposal. Please take a moment now to vote FOR the reorganization proposal and, if you have any questions or need assistance in voting your shares, please call our proxy solicitors, The Altman Group, toll-free at 800-246-5216, or MacKenzie Partners, Inc., toll-free at 800-322-2885.

Sincerely,

/s/ Ronald L. Havner, Jr.

Ronald L. Havner, Jr.

President and Chief Executive Officer

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