BALTIMORE, Oct. 4, 2018 /PRNewswire/ -- On Friday, September 28, 2018, MMA Capital
Management, LLC (NASDAQ: MMAC) ("MMA Capital" or
"the Company") announced that it will hold a special
investor meeting on Tuesday, November 20,
2018, at 1:00 p.m. EDT for
shareholders of record as of September
24, 2018. The purpose of the special meeting will be
to allow shareholders to vote on whether to convert the Company to
a Delaware corporation for legal
purposes. Further details can be found in the Definitive Proxy Form
14A as filed with the Securities and Exchange Commission on
Friday, September 28, 2018.
Michael Falcone, MMA Capital's
Chief Executive Officer stated, "Consistent with our continued
efforts to increase shareholder value, the Board of Directors has
determined that it is in the best interest of shareholders to
convert from a Delaware limited
liability company to a Delaware
corporation for legal purposes, which we believe will enhance the
value of the Company's stock. The primary reason for the
proposed change is to enable certain institutional investors,
including funds that track certain market indices, to invest in the
Company that are currently prohibited from investing in companies
organized as a limited liability company. If the proposal is
approved, we anticipate that the Company will be eligible for
inclusion in certain indices upon their next reconstitution
measurements sometime in 2019, subject to meeting the qualification
requirements of any individual index. The proposal will have
no impact on the Company's tax treatment as we elected to be taxed
as a corporation and eliminated our pass-through of income back in
2013, nor will it impact our governance since we have always had a
corporate style of governance. The Company fully supports voting in
favor of the proposal and encourages shareholders to vote at their
earliest convenience."
About MMAC
MMA Capital primarily invests in debt associated with real
estate and infrastructure. MMA Capital is externally managed and
advised by Hunt Investment Management, LLC, an affiliate of Hunt
Companies, Inc. For additional information about MMA Capital
Management, LLC (NASDAQ: MMAC), please visit MMA Capital's website
at www.mmacapitalmanagement.com. For additional
information about Hunt Investment Management, LLC, please see its
Form ADV and brochure (Part 2A of Form ADV) available at
https://www.adviserinfo.sec.gov.
Cautionary Statement Regarding
Forward-Looking Statements
This Release contains forward-looking statements intended to
qualify for the safe harbor contained in Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements often include words such as "may," "will," "should,"
"anticipate," "estimate," "expect," "project," "intend," "plan,"
"believe," "seek," "would," "could," and similar words or are made
in connection with discussions of future operating or financial
performance.
Forward-looking statements reflect our management's
expectations at the date of this Release regarding future
conditions, events or results. They are not guarantees of future
performance. By their nature, forward-looking statements are
subject to risks and uncertainties. Our actual results and
financial condition may differ materially from what is anticipated
in the forward-looking statements. There are many factors that
could cause actual conditions, events or results to differ from
those anticipated by the forward-looking statements contained in
this Release. These factors include changes in market conditions
that affect the willingness of potential investors or lenders to
provide us with debt or equity, changes in market conditions that
affect the value or marketability of assets we own, changes in
market conditions or other factors that affect our access to cash
that we may need to meet our commitments to other persons, changes
in interest rates or other conditions that affect the value of
mortgage loans we have made, changes in interest rates that affect
our cost of funds, tax laws, environmental laws or other conditions
that affect the value of the real estate underlying mortgage loans
we own, and changes in tax laws or other things beyond our control
that affect the tax benefits available to us and our investors.
Readers are cautioned not to place undue reliance on
forward-looking statements. We have not undertaken to update any
forward-looking statements in this Release.
MMA CAPITAL MANAGEMENT: INTEGRITY. INNOVATION.
SERVICE.
www.mmacapitalmanagement.com
View original
content:http://www.prnewswire.com/news-releases/mma-capital-management-announces-special-meeting-300724308.html
SOURCE MMA Capital Management, LLC