KKR Financial Corp. Announces Results of Annual Meeting of Stockholders
May 03 2007 - 5:05PM
PR Newswire (US)
SAN FRANCISCO, May 3 /PRNewswire-FirstCall/ -- KKR Financial Corp.
(NYSE: KFN) announced today that its stockholders approved the
restructuring plan to cause KKR Financial Corp. to become a
wholly-owned subsidiary of KKR Financial Holdings LLC, a recently
formed Delaware limited liability company whose shares will be
listed and publicly traded on the New York Stock Exchange under the
ticker "KFN". The restructuring plan is expected to be completed
tomorrow, May 4, 2007, prior to the opening of trading on the New
York Stock Exchange. The shares of KKR Financial Holdings LLC are
expected to begin trading on the New York Stock Exchange under the
ticker symbol "KFN" at the opening of the market tomorrow.
Saturnino Fanlo, Chief Executive Officer, said, "We are grateful
for the commitment that our stockholders have shown in supporting
the restructuring." In addition to the restructuring transaction,
the stockholders approved the election of the company's twelve
directors and the appointment of Deloitte & Touche LLP as the
company's independent registered public accounting firm for the
upcoming year. For more information on the restructuring plan,
election of directors and ratification of the appointment of
Deloitte & Touche LLP, please refer to the Proxy
Statement/Prospectus filed on April 2, 2007, a copy of which is
available at
http://www.kkrkfn.com/investorrelations/financialreports. KKR
Financial Corp. is a specialty finance company that invests in
multiple asset classes and uses leverage to generate competitive
leveraged risk-adjusted returns. KKR Financial Corp. currently
makes investments in the following asset classes: (i) residential
mortgage loans and mortgage-backed securities; (ii) corporate loans
and debt securities; (iii) commercial real estate loans and debt
securities; (iv) asset-backed securities; and (v) marketable and
non-marketable equity securities. KKR Financial Corp. also makes
opportunistic investments in other asset classes from time to time.
KKR Financial Corp. was organized as a Maryland corporation on July
7, 2004, and commenced operations on August 12, 2004. KKR Financial
Advisors LLC manages KKR Financial Corp. pursuant to a management
agreement. KKR Financial Corp. and KKR Financial Advisors LLC are
affiliates of Kohlberg Kravis Roberts & Co. L.P. For more
information about KKR Financial Corp. or a copy of this press
release visit its website at http://www.kkrkfn.com/. CONTACT:
Investors Media Laurie L. Poggi Roanne Kulakoff/Joseph Kuo KKR
Financial Kekst and Company (415) 315-3718 (212) 521-4837/4863
DATASOURCE: KKR Financial Corp. CONTACT: investors, Laurie L. Poggi
of KKR Financial, +1-415-315-3718; or media, Roanne Kulakoff/Joseph
Kuo, both of Kekst and Company, +1-212-521- 4837/4863, for KKR Web
site: http://www.kkrfn.com/
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