NEW YORK, May 20, 2015 (GLOBE NEWSWIRE) -- StoneCastle Financial Corp. (Nasdaq:BANX) ("StoneCastle Financial" or the "Company"), an investment company registered with the Securities and Exchange Commission ("SEC"), today announced results of the annual meeting of stockholders of the Company held on May 19, 2015 with respect to the election of directors. It also announced the adjournment of the meeting with respect to Proposal 2, the approval of a plan of reorganization, to June 8, 2015 to permit the continued solicitation of additional votes.
Election of Directors
Messrs. Emil Henry and Joshua Siegel, Class II directors of the Company, who were standing for re-election at the meeting, were elected by stockholders. The current directors of the Company whose terms were not expiring this year and who therefore were not standing for re-election at the meeting remain in office to serve the term for which they were previously elected.
Approval of Agreement and Plan of Reorganization
The meeting has been adjourned until 10:30 a.m. Eastern time on Monday, June 8, 2015 at the Park Central Hotel, 870 7th Avenue at 56th Street, New York, NY 10019 to permit the continued solicitation of additional votes with respect to the approval of an Agreement and Plan of Reorganization, pursuant to which the Company would be reorganized into a newly formed Delaware statutory trust.
The Company encourages stockholders who have not yet voted their shares to do so now in order to reach a quorum and to avoid the cost of further adjournments. The proxy materials received by stockholders contain important information regarding the proposal.
If stockholders have any questions regarding the proposal, or need assistance with voting, they may call Georgeson, the Company's proxy solicitor, toll free at 888-566-8006 or the Company at 347-887-0324.
Forward-Looking Statements
This press release contains statements that are not historical facts and are forward-looking statements based on current management expectations involving substantial risks and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. Actual future results may differ significantly from those stated in any forward-looking statement, depending on factors such as changes in securities or financial markets or general economic conditions, the volume of sales and purchases of shares of common stock, the continuation of investment advisory, administrative and service contracts, and other risks discussed from time to time in StoneCastle Financial's filings with the SEC.
About StoneCastle Financial
StoneCastle Financial is an SEC registered non-diversified, closed-end investment company listed on the NASDAQ Global Select Market under the symbol "BANX." StoneCastle Financial intends to make long-term, passive, non-control investments in community banks seeking capital for organic growth, acquisitions, share repurchases and other refinancing activities. Its investment objective is to provide stockholders with current income and, to a lesser extent, capital appreciation. StoneCastle Financial is managed by StoneCastle Asset Management LLC.