-----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, Oge9FGppBVL/7t7PpyE1dPoKhOKDE4DkLiBUSrLx2JeTMTE2oF/KExKVR7WgVVZ2 Z4H3a/rhGVSioPLTnWH1SA== 0000950123-09-016324.txt : 20090623 0000950123-09-016324.hdr.sgml : 20090623 20090623161923 ACCESSION NUMBER: 0000950123-09-016324 CONFORMED SUBMISSION TYPE: S-8 PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20090623 DATE AS OF CHANGE: 20090623 EFFECTIVENESS DATE: 20090623 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RAMCO GERSHENSON PROPERTIES TRUST CENTRAL INDEX KEY: 0000842183 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 136908486 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: S-8 SEC ACT: 1933 Act SEC FILE NUMBER: 333-160168 FILM NUMBER: 09905609 BUSINESS ADDRESS: STREET 1: 31500 NORTHWESTERN HWY STREET 2: SUITE 300 CITY: FARMINGTON HILLS STATE: MI ZIP: 48334 BUSINESS PHONE: 2483509900 MAIL ADDRESS: STREET 1: 31500 NORTHWESTERN HWY STREET 2: SUITE 300 CITY: FARMINGTON HILLS STATE: MI ZIP: 48334 FORMER COMPANY: FORMER CONFORMED NAME: RPS REALTY TRUST DATE OF NAME CHANGE: 19920703 S-8 1 k48013sv8.htm FORM S-8 FORM S-8
Table of Contents

Registration No. 333-     
As filed with the Securities and Exchange Commission on June 23, 2009
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
 
Ramco-Gershenson Properties Trust
(Exact name of registrant as specified in its charter)
     
Maryland   13-6908486
     
(State or other jurisdiction of   (I.R.S. Employer
incorporation or organization)   Identification No.)
     
31500 Northwestern Highway, Suite 300    
Farmington Hills, Michigan   48334
     
(Address of principal executive offices)   (Zip code)
Ramco-Gershenson Properties Trust
2008 Restricted Share Plan for Non-Employee Trustees
&

2009 Omnibus Long-Term Incentive Plan
(Full title of the plan)
Dennis E. Gershenson
Chairman, President and Chief Executive Officer
Ramco-Gershenson Properties Trust
31500 Northwestern Highway, Suite 300
Farmington Hills, Michigan 48334

(Name and address of agent for service)
(248) 350-9900
(Telephone number, including area code, of agent for service)
Copy to:
Donald J. Kunz, Esq.
Honigman Miller Schwartz and Cohn LLP
2290 First National Building
660 Woodward Ave.
Detroit, Michigan 48226-3506
(313) 465-7454 (telephone)
(313) 465-7455 (facsimile)
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
             
Large accelerated filer o   Accelerated Filer þ   Non-accelerated filer o   Smaller reporting company o
        (Do not check if a smaller reporting company)    
CALCULATION OF REGISTRATION FEE
 
  Title of           Proposed     Proposed        
  securities     Amount     maximum     maximum     Amount of  
  to be     to be     offering price     aggregate     registration  
  registered (1)     registered (2)     per share     offering price     fee  
 
Common Shares of Beneficial Interest
    151,000     $9.12(3)     $1,377,120     $76.84  
 
Common Shares of Beneficial Interest
    900,000     $9.12(3)     $8,208,000     $458.01  
 
(1)   Registered herein are (i) 151,000 common shares of beneficial interest of Ramco-Gershenson Properties Trust (the “Registrant”) par value $0.01 per share that may be issued pursuant to the Registrant’s 2008 Restricted Share Plan for Non-Employee Trustees and (ii) 900,000 common shares of beneficial interest of the Registrant par value $0.01 per share that may be issued pursuant to the Registrant’s 2009 Omnibus Long-Term Incentive Plan (collectively, the “Common Shares”).
 
(2)   Pursuant to Rule 416 under the Securities Act of 1933, as amended, this Registration Statement shall also cover any additional Common Shares in respect of the securities identified in the above table by reason of any stock dividend, stock split, recapitalization or similar transaction.
 
(3)   Calculated pursuant to Rule 457(c) and (h) solely for the purpose of computing the registration fee and based on the average of the high and low prices of the Common Shares as traded on the New York Stock Exchange on June 22, 2009.
 
 
 

 


TABLE OF CONTENTS

PART II
Item 3. Incorporation of Documents by Reference
Item 4. Description of Securities
Item 5. Interests of Named Experts and Counsel
Item 6. Indemnification of Trustees and Officers
Item 7. Exemption from Registration Claimed
Item 8. Exhibits
Item 9. Undertakings
SIGNATURES
INDEX TO EXHIBITS
EX-5.1
EX-23.1


Table of Contents

PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
     The documents listed below are incorporated by reference in this Registration Statement:
     1. Annual Report on Form 10-K and Annual Report on Form 10-K/A of the Registrant for the year ended December 31, 2008, filed with the Securities and Exchange Commission (the “Commission”) on March 11, 2009 and April 30, 2009, respectively.
     2. Quarterly Report on Form 10-Q of the Registrant for the quarter ending March 31, 2009 filed with the Commission on May 8, 2009.
     3. Current Reports on Form 8-K filed with the Commission on January 13, 2009, March 25, 2009, April 1, 2009, April 10, 2009, May 13, 2009, June 4, 2009 and June 15, 2009, respectively.
     4. All other reports the Registrant filed with the Commission pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), since December 31, 2008.
     5. The description of the Registrant’s Common Shares contained in Item 1 of the Registrant’s registration statement on Form 8-A filed with the Commission on November 1, 1988, including any amendment or report filed for the purpose of updating such description.
     6. All documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be part hereof from the date of filing of such documents.
     Any statement contained in a document incorporated or deemed to be incorporated herein by reference shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein by reference modifies or supersedes such prior statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4. Description of Securities.
     Not applicable.
Item 5. Interests of Named Experts and Counsel.
     Not applicable.
Item 6. Indemnification of Trustees and Officers.
     The Articles of Amendment and Restatement of Declaration of Trust of the Registrant, as amended and supplemented (the “Declaration of Trust”), permits the Registrant, and the Registrant’s Bylaws, as amended and restated (the “Bylaws”), require the Registrant, to the maximum extent permitted by Maryland law in effect from time to time, to indemnify any trustee or officer (a) against reasonable expenses incurred by him in the successful defense (on the merits or otherwise) of any proceeding to which he is made a party by reason of such status or (b) against any claim or liability to which he may become subject by reason of such status unless it is established that (i) the act or omission that was material to the matter giving rise to the procedure was committed in bad faith or was the result of active and deliberate dishonesty, (ii) he actually received an improper personal benefit in money, property or services, or (iii) in the case of a criminal proceeding, he had reasonable cause to believe that his act or omission was unlawful. The Registrant is also required by the Bylaws to pay or reimburse, in advance of a final disposition and without requiring a preliminary determination of the ultimate entitlement to indemnification, reasonable

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expenses of a trustee or officer made a party to a proceeding by reason of his status as such, provided, however, that in accordance with Maryland law, the Registrant has received a written affirmation by the trustee or officer of his good faith belief that he has met the applicable standard for indemnification under such Bylaws and a written undertaking to repay such expenses if it shall ultimately be determined that the applicable standard was not met. The Registrant may, with the approval of the Board of Trustees (the “Board”) or any duly authorized committee, provide such indemnification and advance for expenses to any of the Registrant’s employees or agents or to any person who served a predecessor entity.
     Maryland law also permits the declaration of trust of a real estate investment trust to include a provision limiting the liability of trustees and officers to the trust and shareholders for money damages, except to the extent that it is provided that the trustee or officer actually received an improper benefit or profit in money, property or services or a judgment or other final adjudication adverse to the trustee or officer is entered in a proceeding based on a finding that the trustee or officer’s action or failure to act was the result of active and deliberate dishonesty and was material to the cause of action adjudicated in the proceeding. The Declaration of Trust contains a provision providing for elimination of the liability of the Registrant’s trustees and officers to the Registrant or the Registrant’s shareholders for money damages to the maximum extent permitted by Maryland law in effect from time to time.
     The Registrant has purchased a policy of Directors’ and Officers’ insurance that insures both the Registrant and its officers and trustees against expenses and liabilities of the type normally insured against under such policies, including the expenses of indemnification described above.
Item 7. Exemption from Registration Claimed.
     Not applicable.
Item 8. Exhibits.
       
 
4.1
  Articles of Amendment and Restatement of Declaration of Trust of the Registrant, dated October 2, 1997, incorporated by reference to Exhibit 3.1 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 1997, as amended.
 
 
   
 
4.2
  Articles of Amendment to the Registrant’s Declaration of Trust, dated June 8, 2005, incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed with the Commision on June 13, 2005.
 
 
   
 
4.3
  Articles Supplementary to the Registrant’s Declaration of Trust, dated March 31, 2009, incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed with the Commission on April 1, 2009.
 
 
   
 
4.4
  Rights Agreement between Registrant and American Stock Transfer & Trust Company, LLC, dated as of March 25, 2009, incorporated by reference to Exhibit 4.1 to the Registrant’s Current Report on Form 8-K filed with the Commission on April 1, 2009.
 
 
   
 
4.5
  Bylaws of the Registrant, incorporated by reference to Exhibit 3.3 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2007.
 
 
   
 
4.6
  Ramco-Gershenson Properties Trust 2008 Restricted Share Plan for Non-Employee Trustees, incorporated by reference to Appendix A to the Registrant’s Proxy Statement on Schedule 14A (Amendment No. 1) filed with the Commission on April 30, 2008.
 
 
   
 
4.7
  Ramco-Gershenson Properties Trust 2009 Omnibus Long-Term Incentive Plan, incorporated by reference to Appendix A to the Registrant’s Proxy Statement on Schedule 14A filed with the Commission on May 15, 2009.
 
 
   
 
5.1*
  Opinion of Ballard Spahr Andrews and Ingersoll, LLP
 
 
   
 
23.1*
  Consent of Grant Thornton LLP

2


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23.2*
  Consent of Ballard Spahr Andrews and Ingersoll, LLP (included in the opinion filed as Exhibit 5.1 to this Registration Statement)
 
 
   
 
24*
  Power of Attorney (included after the signature of the Registrant contained on Signature Page 1 of this Registration Statement)
 
*   Filed herewith
Item 9. Undertakings.
     (a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
(i) To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;
(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement;
(iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.
     Provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the registration statement is on Form S-8, and the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement.
(2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
     (b) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant’s annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
     (c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the

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registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a directors, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.

4


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SIGNATURES
     Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Farmington Hills, State of Michigan, on June 10, 2009.
         
  RAMCO-GERSHENSON PROPERTIES TRUST
 
 
  By:   /s/ Dennis E. Gershenson    
    Dennis E. Gershenson   
    Chairman, President and Chief Executive Officer   
 
POWER OF ATTORNEY
     KNOW ALL PERSONS BY THESE PRESENTS, that each of the undersigned officers and trustees of RAMCO-GERSHENSON PROPERTIES TRUST, a Maryland real estate investment trust (the “Registrant”), hereby constitutes and appoints Dennis E. Gershenson and Richard J. Smith, and each of them, the true and lawful attorneys-in-fact and agents of the undersigned, each with the power of substitution for him or her in any and all capacities, with full power and authority in said attorneys-in-fact and agents and in any one or more of them, to sign and execute and file the proposed registration statement on Form S-8 to be filed by the Registrant under the Securities Act, which registration statement relates to the registration and issuance of the Registrant’s Common Shares, par value $0.01 a share, pursuant to the Ramco-Gershenson Properties Trust 2008 Restricted Share Plan for Non-Employee Trustees and the 2009 Omnibus Long-Term Incentive Plan, and any of the documents relating to such registration statement, any and all amendments to such registration statement, including any amendment thereto changing the amount of securities for which registration is being sought, and any post-effective amendment, with all exhibits and any and all documents required to be filed with respect thereto with any regulatory authority, granting unto said attorneys, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises in order to effectuate the personally present, hereby ratifying and confirming all that said attorneys-in-fact and agents, and each of them, may lawfully do or cause to be done by virtue hereof.
[REMAINDER OF THIS PAGE LEFT INTENTIONALLY BLANK]
Signature Page 1 to Form S-8

 


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     Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the date indicated.
         
Signature   Title   Date
 
       
/s/ Dennis E. Gershenson
 
Dennis E. Gershenson
  Chairman of the Board, President and Chief Executive Officer
(Principal Executive Officer)
  June 10, 2009
 
       
/s/ Richard J. Smith
 
Richard J. Smith
  Chief Financial Officer and Secretary (Principal Financial Officer and
Principal Accounting Officer)
  June 10, 2009
 
       
/s/ Stephen R. Blank
 
Stephen R. Blank
  Trustee    June 10, 2009
 
       
/s/ Arthur H. Goldberg
 
Arthur H. Goldberg
  Trustee    June 10, 2009
 
  Trustee     
 
Robert A. Meister
     
 
       
/s/ David J. Nettina
  Trustee   June 10, 2009
 
David J. Nettina
       
 
       
/s/ Matthew L. Ostrower
 
Matthew L. Ostrower
  Trustee    June 10, 2009
 
       
/s/ Joel M. Pashcow
 
Joel M. Pashcow
  Trustee    June 10, 2009
 
       
/s/ Mark K. Rosenfeld
 
Mark K. Rosenfeld
  Trustee    June 10, 2009
 
       
/s/ Michael A. Ward
 
Michael A. Ward
  Trustee    June 10, 2009
Signature Page 2 to Form S-8

 


Table of Contents

INDEX TO EXHIBITS
     
Exhibit No.   Exhibit
4.1
  Articles of Amendment and Restatement of Declaration of Trust of the Registrant, dated October 2, 1997, incorporated by reference to Exhibit 3.1 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 1997, as amended.
 
   
4.2
  Articles of Amendment to the Registrant’s Declaration of Trust, dated June 8, 2005, incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed with the Commission on June 13, 2005.
 
   
4.3
  Articles Supplementary to the Registrant’s Declaration of Trust, dated March 31, 2009, incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed with the Commission on April 1, 2009.
 
   
4.4
  Rights Agreement between Registrant and American Stock Transfer & Trust Company, LLC, dated as of March 25, 2009, incorporated by reference to Exhibit 4.1 to the Registrant’s Current Report on Form 8-K filed with the Commission on April 1, 2009.
 
   
4.5
  Bylaws of the Registrant, incorporated by reference to Exhibit 3.3 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2007.
 
   
4.6
  Ramco-Gershenson Properties Trust 2008 Restricted Share Plan for Non-Employee Trustees, incorporated by reference to Appendix A to the Registrant’s Proxy Statement on Schedule 14A (Amendment No. 1) filed with the Commission on April 30, 2008.
 
   
4.7
  Ramco-Gershenson Properties Trust 2009 Omnibus Long-Term Incentive Plan, incorporated by reference to Appendix A to the Registrant’s Proxy Statement on Schedule 14A filed with the Commission on May 15, 2009.
 
   
5.1*
  Opinion of Ballard Spahr Andrews and Ingersoll, LLP
 
   
23.1*
  Consent of Grant Thornton LLP
 
   
23.2*
  Consent of Ballard Spahr Andrews and Ingersoll, LLP (included in the opinion filed as Exhibit 5.1 to this Registration Statement)
 
   
24*
  Power of Attorney (included after the signature of the Registrant contained on page [___] of this Registration Statement)
 
*   Filed herewith

 

EX-5.1 2 k48013exv5w1.htm EX-5.1 EX-5.1
Exhibit 5.1
[LETTERHEAD OF BALLARD SPAHR ANDREWS & INGERSOLL, LLP]
June 23, 2009
Ramco-Gershenson Properties Trust
31500 Northwestern Highway
Suite 300
Farmington Hills, Michigan 48334
      Re:   Ramco-Gershenson Properties Trust, a Maryland real estate investment trust (the “Company”) — Registration Statement on Form S-8 pertaining to One Hundred Fifty-One Thousand (151,000) common shares of beneficial interest of the Company (“Common Shares”), par value $.01 per share (the “2008 Shares”), to be issued pursuant to the 2008 Restricted Share Plan for Non-Employee Trustees (the “2008 Plan”) and Nine Hundred Thousand (900,000) Common Shares (the “2009 Shares”, and together with the 2008 Shares, the “Shares”) to be issued pursuant to the 2009 Omnibus Long-Term Incentive Plan (the “2009 Plan”, and together with the 2008 Plan, the “Plans”)
Ladies and Gentlemen:
          We have acted as Maryland counsel to the Company in connection with the registration of the Shares under the Securities Act of 1933, as amended (the “Act”), by the Company pursuant to a Registration Statement on Form S-8 filed or to be filed with the Securities and Exchange Commission (the “Commission”) on or about June 23, 2009 (the “Registration Statement”). You have requested our opinion with respect to the matters set forth below.
          In our capacity as Maryland counsel to the Company and for the purposes of this opinion, we have examined originals, or copies certified or otherwise identified to our satisfaction, of the following documents (collectively, the “Documents”):
  (i)   the declaration of trust of the Company (the “Declaration of Trust”) represented by Articles of Amendment and Restatement of Declaration of Trust filed with the State Department of Assessments and Taxation of Maryland (the “Department”) on October 2, 1997, Articles Supplementary filed with the Department on October 2, 1997, Articles of Merger filed with the Department on December 18, 1997 and December 31, 1997, a Certificate of Correction filed with the Department on April 23, 2002,

 


 

BALLARD SPAHR ANDREWS & INGERSOLL, LLP
Ramco-Gershenson Properties Trust
June 23, 2009
Page 2
Articles Supplementary filed with the Department on November 8, 2002, Articles Supplementary filed with the Department on June 1, 2004, Articles Supplementary filed with the Department on June 9, 2005, Articles of Amendment filed with the Department on June 9, 2005, Articles Supplementary filed with the Department on December 12, 2007 and Articles Supplementary filed with the Department on April 2, 2009;
  (ii)   the Bylaws of the Company, adopted as of December 12, 2007 (the “Bylaws”);
 
  (iii)   the Written Consent of Trustees in Lieu of Organization Meeting, dated as of October 2, 1997 (the “Organizational Resolutions”);
 
  (iv)   resolutions adopted by the Board of Trustees of the Company (the “Board of Trustees”) as of June 10, 2008 and April 21-22, 2009, which, among other things, authorized the issuance of the Shares (together, the “Trustees’ Resolutions”);
 
  (v)   the Plans;
 
  (vi)   the Registration Statement in substantially the form filed or to be filed with the Commission pursuant to the Act;
 
  (vii)   a certificate of Dennis E. Gershenson, President and Chief Executive Officer of the Company and Richard J. Smith, Chief Financial Officer and Secretary of the Company, dated as of the date hereof (the “Officers’ Certificate”), to the effect that, among other things, the Declaration of Trust, the Bylaws, the Organizational Resolutions and the Trustees’ Resolutions are true, correct and complete, have not been rescinded or modified and are in full force and effect on the date of the Officers’ Certificate;
 
  (viii)   a status certificate of the Department, dated as of June 23, 2009, to the effect that the Company is duly formed and existing under the laws of the State of Maryland and is duly authorized to transact business in the State of Maryland; and
 
  (ix)   such other laws, records, documents, certificates, opinions and instruments as we have deemed necessary to render this opinion, subject to the limitations, assumptions and qualifications noted below.

 


 

BALLARD SPAHR ANDREWS & INGERSOLL, LLP
Ramco-Gershenson Properties Trust
June 23, 2009
Page 3
In reaching the opinion set forth below, we have assumed the following:
  (a)   each person executing any of the Documents on behalf of a party (other than the Company) is duly authorized to do so;
 
  (b)   each natural person executing any of the Documents is legally competent to do so;
 
  (c)   any of the Documents submitted to us as originals are authentic; the form and content of any Documents submitted to us as unexecuted drafts do not differ in any respect relevant to this opinion from the form and content of such documents as executed and delivered; any of the Documents submitted to us as certified or photostatic copies conform to the original documents; all signatures on all of the Documents are genuine; all public records reviewed or relied upon by us or on our behalf are true and complete; all statements and information contained in the Documents are true and complete; there has been no modification of, or amendment to, any of the Documents, and there has been no waiver of any provision of any of the Documents by action or omission of the parties or otherwise;
 
  (d)   upon issuance of the Shares, the total number of common shares of beneficial interest of the Company issued and outstanding will not exceed the total number of common shares of beneficial interest of the Company that the Company is authorized to issue under its Declaration of Trust;
 
  (e)   none of the Shares issued subsequent to the date hereof will be issued or transferred in violation of the provisions of Article VII of the Declaration of Trust relating to restrictions on ownership and transfer of common shares of beneficial interest of the Company; and
 
  (f)   none of the Shares issued subsequent to the date hereof will be issued and sold to an Interested Stockholder of the Company or an Affiliate thereof, all as defined in Subtitle 6 of Title 3 of the Maryland General Corporation Law (the “MGCL”), in violation of Section 3-602 of the MGCL.
          Based on the foregoing, and subject to the assumptions and qualifications set forth herein, it is our opinion that, as of the date of this letter:
  1)   The Company has been duly formed and is validly existing as a real estate investment trust in good standing under the laws of the State of Maryland.

 


 

BALLARD SPAHR ANDREWS & INGERSOLL, LLP
Ramco-Gershenson Properties Trust
June 23, 2009
Page 4
  2)   The Shares have been generally authorized for issuance pursuant to the Plans and if, as and when the Shares are issued as grants of restricted shares duly authorized by the Board of Trustees, or a properly appointed committee thereof to which the Board of Trustees has delegated the requisite power and authority, in exchange for the consideration therefor, all in accordance with, and subject to, the terms and conditions of the Plans and the grants of restricted shares relating to such Shares, such Shares will be duly authorized, validly issued and fully paid and non-assessable.
          The foregoing opinion is limited to the substantive laws of the State of Maryland, and we do not express any opinion herein concerning any other law. We express no opinion as to the applicability or effect of any federal or state securities laws, including the securities laws of the State of Maryland, or as to federal or state laws regarding fraudulent transfers. To the extent that any matter as to which our opinion is expressed herein would be governed by any jurisdiction other than the State of Maryland, we do not express any opinion on such matter.
          This opinion letter is issued as of the date hereof and is necessarily limited to laws now in effect and facts and circumstances presently existing and brought to our attention. We assume no obligation to supplement this opinion letter if any applicable laws change after the date hereof, or if we become aware of any facts or circumstances that now exist or that occur or arise in the future and may change the opinions expressed herein after the date hereof.
          We consent to your filing this opinion as an exhibit to the Registration Statement and further consent to the filing of this opinion as an exhibit to the applications to securities commissioners for the various states of the United States for registration of the Shares. In giving this consent, we do not admit that we are within the category of persons whose consent is required by Section 7 of the Act.
         
  Very truly yours,
 
 
     
  /s/ Ballard Spahr Andrews & Ingersoll, LLP
 

 

EX-23.1 3 k48013exv23w1.htm EX-23.1 EX-23.1
Exhibit 23.1
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We have issued our reports dated March 10, 2009, with respect to the consolidated financial statements (which expressed an unqualified opinion and contained an explanatory paragraph related to the adoption of the recognition and disclosure provisions of Financial Accounting Standards Board Statement No. 123(R) “Share Based Payments”, effective December 31, 2006) and internal control over financial reporting included in the Annual Report of Ramco-Gershenson Properties Trust on Form 10-K for the year ended December 31, 2008 which are incorporated by reference by the Company in this Registration Statement included on this Form S-8. We hereby consent to the incorporation by reference in this Registration Statement of the aforementioned reports.
Southfield, Michigan
June 23, 2009

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