Revised: Hallmark Announces Intent to Transfer Listing
September 19 2006 - 12:17PM
PR Newswire (US)
FORT WORTH, Texas, Sept. 19 /PRNewswire-FirstCall/ -- Hallmark
Financial Services, Inc. (AMEX:HAF) today announced its intention
to voluntarily withdraw its Common Stock from listing on the
American Stock Exchange and transfer such listing to the NASDAQ
Global Market on or after Thursday, September 28, 2006. The
transfer of listing from the American Stock Exchange to the NASDAQ
Global Market is expected to become effective following the pricing
of its previously announced public offering. Hallmark previously
announced that it had filed a registration statement on Form S-1
with the Securities and Exchange Commission relating to a proposed
public offering of up to $80.5 million in shares of its common
stock, including shares subject to the underwriters' over-allotment
option. The shares will be sold by Hallmark and its largest
stockholder, Newcastle Partners, L.P. The number of shares to be
offered and offering price will be determined by market conditions
at the time of pricing in consultation with the underwriters of the
offering. A registration statement relating to these securities has
been filed with the Securities and Exchange Commission but has not
yet become effective. These securities may not be sold, nor may
offers to buy be accepted, prior to the time the registration
statement becomes effective. This press release does not constitute
an offer to sell or a solicitation of an offer to buy any
securities. The offering of shares of the Common Stock will be made
only by means of a prospectus. A written prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, when
available, may be obtained from Piper Jaffray & Co. at 800
Nicollet Mall, Minneapolis, MN 55402-7020; Phone: (800) 333-6000.
Hallmark Financial Services, Inc. is an insurance holding company
which, through its subsidiaries, engages in the sale of property
and casualty insurance products to businesses and individuals. The
Company's business involves marketing, distributing, underwriting
and servicing commercial insurance in Texas, New Mexico, Idaho,
Oregon, Montana, Louisiana, Oklahoma and Washington; marketing,
distributing, underwriting and servicing non- standard personal
automobile insurance in Texas, New Mexico, Arizona, Oklahoma and
Idaho; marketing, distributing, underwriting and servicing general
aviation insurance in 48 states; and providing other insurance
related services. The Company is headquartered in Fort Worth, Texas
and its common stock is presently listed on the American Stock
Exchange under the symbol "HAF". Forward-looking statements in this
Release are made pursuant to the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995. Investors are
cautioned that actual results may differ substantially from such
forward-looking statements. Forward-looking statements involve
risks and uncertainties including, but not limited to, continued
acceptance of the Company's products and services in the
marketplace, competitive factors, interest rate trends, the
availability of financing, underwriting loss experience and other
risks detailed from time to time in the Company's periodic report
filings with the Securities and Exchange Commission. For further
information, please contact: Mark J. Morrison, President and Chief
Executive Officer, at (817) 348-1600 http://www.hallmarkgrp.com/
DATASOURCE: Hallmark Financial Services, Inc. CONTACT: Mark J.
Morrison, President and Chief Executive Officer of Hallmark
Financial Services, Inc., +1-817-348-1600 Web site:
http://www.hallmarkgrp.com/
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