BALTIMORE, Aug. 17, 2020 /PRNewswire/ -- MMA Capital
Holdings, Inc. (Nasdaq: MMAC) ("MMA Capital" or the
"Company") today announced the resignation of Mr.
Michael Falcone as Chief Executive
Officer. Mr. Falcone will remain a member of the Company's Board of
Directors.
The Company's President, Mr. Gary
Mentesana, will fulfill the duties of the Chief Executive
Officer as the Company's Board of Directors and the Company's
external manager, Hunt Investment Management, LLC (the
"Manager"), work through the selection of a permanent
replacement for Mr. Falcone as Chief Executive Officer.
Mr. Falcone also resigned all of his positions with the Manager
and with Hunt Companies, Inc., the parent company of the
Manager.
Mr. Falcone commented with respect to his resignation, "After
nearly 37 years of being associated with MMA and related
businesses, it is time for me to step down. It was a great honor to
serve our shareholders as CEO and I look forward to continuing to
do so as a director. I want to express my deep appreciation to my
colleagues and to my fellow board members for their support and
commitment over the years."
The Company's Board Chairman, Mr. Frank
Gallagher, commented, "The Board extends its sincere
gratitude to Mike for his many years of service to the
Company. He has unfailingly devoted himself throughout his
entire career to the best interests of the Company, its
shareholders, clients, and personnel, and we wish him well. We look
forward to working with the Manager to select a new Chief Executive
Officer with a view toward serving our constituencies and growing
shareholder value over the long term."
About MMAC
MMA Capital Holdings, Inc. focuses on infrastructure-related
investments that generate positive environmental and social impacts
and deliver attractive risk-adjusted total returns to our
shareholders, with an emphasis on debt associated with
infrastructure including renewable energy projects. MMA Capital is
externally managed and advised by Hunt Investment Management, LLC,
an affiliate of Hunt Companies, Inc. For additional information
about MMA Capital Holdings, Inc. (Nasdaq: MMAC), please visit MMA
Capital's website at www.mmacapitalholdings.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 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements include statements regarding the expected partial
release of the valuation allowance, the impact of COVID-19 and
other statements identified by words such as "may," "will,"
"should," "anticipate," "estimate," "expect," "project," "intend,"
"plan," "believe," "seek," "would," "could," and similar words or
expressions and are made in connection with discussions of future
events and 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, including the uncertain aspect of the novel
strain of coronavirus pandemic known as COVID-19. For a
discussion of certain of those risks and uncertainties and the
factors that could cause our actual results to differ materially
because of those risks and uncertainties, see Part I, Item 1A, Risk
Factors of our Annual Report on Form 10-K for the year ended
December 31, 2019, as supplemented by
Part II, Item 1A, Risk Factors on Form 10-Q for the quarter ended
June 30, 2020. All forward-looking
statements made herein are expressly qualified in their entirety by
these cautionary statements and there can be no assurance that the
actual results, events or developments referenced herein will occur
or be realized. Readers are cautioned not to place undue reliance
on forward-looking statements in this release or that we may make
from time to time. We expressly disclaim any obligation to revise
or update any forward-looking statements in this release, whether
as a result of new information, future events or otherwise.
www.mmacapitalholdings.com
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SOURCE MMA Capital Holdings, Inc.