Royal Bank of Canada, RBC Centura Banks, Inc. and Alabama National BanCorporation Announce Extension of Cash/Stock Election Dead
January 30 2008 - 9:06AM
PR Newswire (US)
BIRMINGHAM, Ala., Jan. 30 /PRNewswire-FirstCall/ -- Alabama
National BanCorporation ("ANB") (NASDAQ:ALAB), Royal Bank of Canada
("RBC") (TSX, NYSE: RY) and RBC Centura Banks, Inc. ("RBC Centura")
announced today that the deadline for ANB stockholders to make an
election to receive cash or RBC common shares (or a combination of
cash and shares), subject to proration, in connection with the
pending merger between RBC Centura and ANB, has been extended from
5:00 p.m. Birmingham, Alabama Time on January 31, 2008 to 5:00 p.m.
Birmingham, Alabama Time on February 8, 2008 (the "New Election
Deadline"), unless further extended. If there is any further
extension of the election deadline, the parties will publicly
announce that extension in a press release on or before February 4,
2008. RBC, RBC Centura and ANB continue to expect to complete the
merger during RBC's second fiscal quarter, which runs from February
1 through April 30, 2008, subject to the receipt of all applicable
regulatory approvals, the expiration of all regulatory waiting
periods, and the satisfaction of the other conditions contained in
the merger agreement. At any time prior to the New Election
Deadline, any record holder of ANB common stock may submit an
Election Form and Letter of Transmittal to the Exchange Agent,
Computershare Investor Services Inc., with respect to all shares of
common stock then owned by such stockholder, regardless of when
those shares were acquired. Any ANB stockholder who holds shares in
"street name" through a broker should follow the instructions given
by the broker with respect to making a valid election. ANB
stockholders who have already elected and do not wish to change
their elections do not need to take any action. Any ANB stockholder
who has made an election by submitting a Form of Election and
Letter of Transmittal to the Exchange Agent may at any time prior
to the New Election Deadline change that holder's election by
submitting to the Exchange Agent a revised and later dated Form of
Election and Letter of Transmittal, properly completed and signed,
that is received by the Exchange Agent prior to the New Election
Deadline. Any ANB stockholder may at any time prior to the New
Election Deadline revoke the election and withdraw the ANB
certificate(s) for the holder's ANB shares deposited with the
Exchange Agent by written notice to the Exchange Agent received
prior to the New Election Deadline. ANB stockholders who hold their
shares in "street name" should contact their broker for
instructions regarding changes or revocations to their existing
elections. After the New Election Deadline, ANB stockholders may
not change or revoke their elections. Record holders of ANB common
stock may obtain additional copies of the Election Form and Letter
of Transmittal at any time prior to the New Election Deadline by
contacting the Exchange Agent, Computershare Investor Services
Inc., Telephone: 1-866-586-7635, e-mail: . About RBC Centura RBC
Centura, headquartered in Raleigh, N.C., offers a wide range of
financial services and advice, including a complete line of banking
and mortgage services to individuals, businesses and public
institutions throughout the Southeast. RBC Centura's multi-faceted
customer access network includes more than 340 full-service banking
centers, an extensive ATM network, and telephone and Internet
banking. In addition, RBC Centura offers builder finance products
through its RBC Builder Finance division. According to SNL
Financial, RBC Centura is the 45th largest U.S. bank based on
assets as of August 2007. In April 2008, RBC Centura will change
its name to RBC Bank (USA). RBC Centura Banks Inc. is a
wholly-owned subsidiary of Royal Bank of Canada, Canada's largest
bank as measured by assets and one of the world's financial, social
and environmental corporate leaders for the past eight years as
listed on the Dow Jones Sustainability World Index. Additional
information about RBC Centura may be found at
http://www.rbccentura.com/. About RBC Royal Bank of Canada (RY on
TSX and NYSE) and its subsidiaries operate under the master brand
name of RBC. RBC is Canada's largest bank as measured by assets and
market capitalization and one of North America's leading
diversified financial services companies. RBC provides personal and
commercial banking, wealth management services, insurance,
corporate and investment banking and transaction processing
services on a global basis. RBC's corporate support team enables
business growth with expert professional advice and state-of-the
art processes and technology. RBC employs approximately 70,000
full- and part-time employees who serve more than 15 million
personal, business, public sector and institutional clients through
offices in Canada, the U.S. and 36 other countries. For more
information, please visit http://www.rbc.com/. About ANB ANB is a
bank holding company operating 103 banking locations through ten
bank subsidiaries in Alabama, Florida and Georgia. Alabama
subsidiaries include: First American Bank in north central Alabama;
and Alabama Exchange Bank in Tuskegee. Florida subsidiaries are:
Indian River National Bank in Vero Beach; First Gulf Bank, N.A. in
Escambia County, Florida and Baldwin County, Alabama; Florida
Choice Bank in metropolitan Orlando and central Florida; Community
Bank of Naples, N.A.; CypressCoquina Bank in Ormond Beach; and
Millennium Bank in Gainesville. ANB has two subsidiaries in
Georgia: Georgia State Bank and The Peachtree Bank, both in
metropolitan Atlanta. ANB provides full banking services to
individuals and businesses. Commercial mortgage services, including
the origination of permanent commercial real estate mortgage loans
for various lenders, are provided by Byars and Company, a division
of First American Bank. Brokerage services are provided to
customers through First American Bank's wholly owned subsidiary,
NBC Securities, Inc. Investments are not bank guaranteed, not FDIC
insured and may lose value. Cautionary Statement Regarding
Forward-Looking Information This document may contain
forward-looking statements within the meaning of the "safe harbor"
provisions of the United States Private Securities Litigation
Reform Act of 1995. RBC and ANB caution readers that any forward-
looking information is not a guarantee of future performance and
that actual results could differ materially from those contained in
the forward-looking statements. Such forward-looking statements
include, but are not limited to, statements about the anticipated
schedule for the merger between ANB and RBC Centura, and other
statements that are not historical facts. Such forward- looking
statements are necessarily estimates reflecting RBC, RBC Centura
and ANB's best judgment based upon current information and involve
a number of risks and uncertainties, and various factors could
cause results to differ materially from those contemplated by such
forward-looking statements. The following factors, among others,
could cause actual results to differ from those set forth in
forward-looking statements: ANB, RBC Centura and RBC's ability to
consummate the proposed merger on the proposed terms and schedule,
including the ability to obtain regulatory approvals. Additional
factors that may affect future results are contained in ANB's and
RBC's filings with the SEC, which are available at the SEC's web
site, http://www.sec.gov/, including without limitation the risk
factors set forth in the definitive proxy statement/prospectus
filed by ANB and RBC with the SEC on December 17, 2007, ANB's
Annual Report on Form 10-K for the year ended December 31, 2006,
ANB's Quarterly Report for the period ended September 30, 2007 and
RBC's Form 40-F filed on November 30, 2007. ANB and RBC disclaim
any obligation to update and revise statements contained in these
materials based on new information or otherwise. DATASOURCE:
Alabama National BanCorporation CONTACT: Royal Bank of Canada,
Investor Relations Department, +1-416-955-7802; or William E.
Matthews, Executive Vice President and Chief Financial Officer of
Alabama National BanCorporation, +1-205-583-3650 Web site:
http://www.alabamanational.com/ http://www.rbccentura.com/
http://www.rbc.com/
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