Trinity Place Holdings Inc. Sets Annual Meeting of Stockholders and Provides Update on Annual Filings

NEW YORK--(BUSINESS WIRE)-- Trinity Place Holdings Inc. (NYSE American: TPHS) (the “Company”) announced that its annual meeting of stockholders will be held at 77 Greenwich Street, New York, New York on Wednesday, June 21, 2023 beginning at 10:00 a.m. local time. Further details regarding the Annual Meeting have been made available to stockholders in the Company’s proxy statement filed with the Securities and Exchange Commission (the “SEC”) today.

The Company also advises that its audited consolidated financial statements for the fiscal year ended December 31, 2022, included in the Company’s annual report on Form 10-K filed with the SEC, contained an audit report from its independent registered public accounting firm with a going concern uncertainty paragraph due to the Company’s pending debt maturities during the next 12 months, the refinancing or extension of which had not yet been secured as of the date of their opinion. Announcement of this information is required by Section 610(b) of the NYSE American Company Guide. It does not represent any change or amendment to any of the Company’s filings for the fiscal year ended December 31, 2022.

ABOUT TRINITY PLACE HOLDINGS

Trinity Place Holdings Inc. is a real estate holding, investment, development and asset management company. The Company’s largest asset is a property located at 77 Greenwich Street in Lower Manhattan, which is nearing completion as a mixed-use project consisting of a 90-unit residential condominium tower, retail space and a New York City elementary school. The Company also own a 105-unit, 12-story multi-family property located at 237 11^th Street in Brooklyn, New York as well as a property occupied by a retail tenant in Paramus, New Jersey. In addition to its real estate portfolio, the Company also controls a variety of intellectual property assets focused on the consumer sector, a legacy of its predecessor, Syms Corp. The Company also had approximately $275.8 million of federal net operating loss carry forwards at December 31, 2022, which can be used to reduce the Company’s future taxable income and capital gains.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations and projections about future events and are not guarantees of future performance or results and involve risks and uncertainties that cannot be predicted or quantified, and, consequently, the actual performance of the Company may differ materially from those expressed or implied by such forward-looking statements. For a more complete description of these and other possible risks and uncertainties, please refer to our Annual Report on Form 10-K for the year ended December 31, 2022, as well as to our subsequent filings with the SEC. The forward-looking statements contained herein speak only as of the date hereof, and we assume no obligation to update any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.

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Linda Flynn, (212) 235-2191

Linda.Flynn@tphs.com

Source: Trinity Place Holdings Inc.