Hanmi Financial Corporation Announces Postponement of its Annual Meeting of Stockholders Until August 23, 2013
July 18 2013 - 8:30AM
Hanmi Financial Corporation (Nasdaq:HAFC) ("Hanmi"), the holding
company for Hanmi Bank, today announced that its 2013 annual
meeting of stockholders (the "Annual Meeting"), originally
scheduled to be held on Wednesday, July 24, 2013, has been
postponed and will now take place on Friday, August 23, 2013, at
10:30 a.m., Pacific Time, at the Sheraton Universal Hotel, located
at 333 Universal Hollywood Drive, Universal City, California.
Hanmi is also resetting the record date for those stockholders
entitled to vote at the Annual Meeting to July 19, 2013.
Hanmi has filed with the U.S. Securities and Exchange Commission
(the "SEC"), and is mailing to its stockholders, a supplement to
its Proxy Statement for the Annual Meeting to notify them of the
postponement of the Annual Meeting.
Hanmi postponed the Annual Meeting to provide its Board of
Directors (the "Board") with additional time to consider, approve
and adopt amendments to the Hanmi Financial Corporation 2013 Equity
Compensation Plan (the "2013 Plan") that have recently been
proposed by the Nominating and Corporate Governance and
Compensation Committee of the Board following consultations with
new members of Company management. The 2013 Plan was initially
adopted by the Board on May 22, 2013 and has been submitted for
stockholder approval at the Annual Meeting pursuant to Hanmi's
prior Proxy Statement for the Annual Meeting (the "Prior Proxy
Statement"). The amendments to the 2013 Plan would include, but not
be limited to, provisions that restrict the Nominating and
Corporate Governance and Compensation Committee, which administers
the 2013 Plan, from taking any action with respect to an
outstanding stock option or stock appreciation right that may be
treated as a repricing under the rules of the New York Stock
Exchange without stockholder approval. The Board and the Nominating
and Corporate Governance and Compensation Committee believe that
the amendments would be beneficial to and in the best interests of
Hanmi's stockholders.
Immediately upon the Board's approval and adoption of the
amendments to the 2013 Plan, Hanmi intends to amend the Prior Proxy
Statement to revise Proposal No. 3 (relating to approval of the
2013 Plan) to reflect the amendments to the 2013 Plan. Hanmi also
intends to attach the amended 2013 Plan as Annex A to the amended
Proxy Statement. Hanmi intends to file with the SEC, and distribute
to its stockholders for their consideration and approval at the
rescheduled Annual Meeting, the amended Proxy Statement and related
proxy materials as soon as practicable.
About Hanmi Financial Corporation
Headquartered in Los Angeles, Hanmi Bank, a wholly-owned
subsidiary of Hanmi Financial Corporation, provides services to the
multi-ethnic communities of California, with 27 full-service
offices in Los Angeles, Orange, San Bernardino, San Francisco,
Santa Clara and San Diego counties, and loan production offices in
Texas and Washington State. Hanmi Bank specializes in
commercial, SBA and trade finance lending, and is a recognized
community leader. Hanmi Bank's mission is to provide a full
range of quality products and premier services to its customers and
to maximize stockholder value.
Forward-Looking Statements
This press release contains forward-looking statements, which
are included in accordance with the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995. In some cases,
you can identify forward-looking statements by terminology such as
"may," "will," "should," "could," "expects," "plans," "intends,"
"anticipates," "believes," "estimates," "predicts," "potential," or
"continue," or the negative of such terms and other comparable
terminology. Although we believe that the expectations reflected in
the forward-looking statements are reasonable, we cannot guarantee
future results, levels of activity, performance or achievements.
All statements other than statements of historical fact are
"forward–looking statements" for purposes of federal and state
securities laws, including, but not limited to, statements about
anticipated future operating and financial performance, financial
position and liquidity, business strategies, regulatory and
competitive outlook, investment and expenditure plans, capital and
financing needs and availability, plans and objectives of
management for future operations, developments regarding our
capital plans, strategic alternatives for a possible business
combination, merger or sale transaction and other similar forecasts
and statements of expectation and statements of assumption
underlying any of the foregoing. These statements involve known and
unknown risks, uncertainties and other factors that may cause our
actual results, levels of activity, performance or achievements to
differ from those expressed or implied by the forward-looking
statement. These factors include the following: failure to maintain
adequate levels of capital and liquidity to support our operations;
the effect of regulatory orders we have entered into and potential
future supervisory action against us or Hanmi Bank; general
economic and business conditions internationally, nationally and in
those areas in which we operate; volatility and deterioration in
the credit and equity markets; changes in consumer spending,
borrowing and savings habits; availability of capital from private
and government sources; demographic changes; competition for loans
and deposits and failure to attract or retain loans and deposits;
fluctuations in interest rates and a decline in the level of our
interest rate spread; risks of natural disasters related to our
real estate portfolio; risks associated with Small Business
Administration loans; failure to attract or retain key employees;
changes in governmental regulation, including, but not limited to,
any increase in FDIC insurance premiums; ability to receive
regulatory approval for Hanmi Bank to declare dividends to Hanmi
Financial; ability to identify a suitable strategic partner or to
consummate a strategic transaction; adequacy of our allowance for
loan losses; credit quality and the effect of credit quality on our
provision for credit losses and allowance for loan losses; changes
in the financial performance and/or condition of our borrowers and
the ability of our borrowers to perform under the terms of their
loans and other terms of credit agreements; our ability to control
expenses; and changes in securities markets. In addition, we set
forth certain risks in our reports filed with the SEC, including,
in Item 1A of our Form 10-K for the year ended December 31, 2012,
our quarterly reports on Form 10-Q, and current and periodic
reports that we will file with the SEC hereafter, which could cause
actual results to differ from those projected. We undertake no
obligation to update such forward-looking statements except as
required by law.
CONTACT: Hanmi Financial Corporation
Shick (Mark) Yoon
SVP & Chief Financial Officer
Direct Phone: 213-427-5636
www.hanmi.com
Hanmi Financial (NASDAQ:HAFC)
Historical Stock Chart
From Sep 2024 to Oct 2024
Hanmi Financial (NASDAQ:HAFC)
Historical Stock Chart
From Oct 2023 to Oct 2024