Hanmi's Securities Purchase Agreement With Woori Remains in Full Force and Effect
December 31 2010 - 4:15PM
Hanmi Financial Corporation (Nasdaq:HAFC), the holding company for
Hanmi Bank, to avoid confusion, announced today that, per its
terms, the amended Securities Purchase Agreement with Woori Finance
Holdings Co. Ltd. will continue in full force and effect beyond the
December 31, 2010 "outside date" established in the Agreement. The
amended Purchase Agreement can be terminated by either party under
certain circumstances.
"While we have amended the agreement with Woori so that it is no
longer an exclusive arrangement, we continue to work with both U.S.
and Korean regulators to gain regulatory approval for this
transaction," said Jay S. Yoo, President and Chief Executive
Officer. "We believe the agreement continues to be beneficial
to both parties and hope to complete the transaction in the coming
year."
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended, and, as such, may involve known and unknown
risks, uncertainties and assumptions. Any forward-looking
statements relate to the Company's current expectations and are
subject to the limitations and qualifications set forth in this
press release, as well as in the Company's other documents filed
with the U.S. Securities and Exchange Commission, including,
without limitation, that actual events and/or results may differ
materially from those projected in such forward-looking
statements.
CONTACT: Hanmi Financial Corporation
Brian E. Cho, Chief Financial Officer
(213) 368-3200
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