Life Partners Holdings, Inc. Holds Annual Shareholders Meeting; Company to Reincorporate in Texas; Anticipates Business Increase, Continued Dividends
BUSINESS WIRE - July 31, 2002 11:37
WACO, Texas, Jul 31, 2002 (BUSINESS WIRE) -- Life Partners Holdings, Inc. (OTCBB:LPHI) - At its annual shareholders meeting held here yesterday, shareholders of Life Partners Holdings Inc. voted to approve a plan to reincorporate the Massachusetts company in the state of Texas. The company has had its principal place of business in Texas since 2000.
Shareholders also expanded the Board of Directors to five for the next fiscal year. The newly elected directors include Brian Pardo, Scott Peden, Tad Ballantyne, Dwight Pierce and Jacquelyn Davis. Life Partners now complies with NASDAQ National Market requirements regarding non-management directors on the company's audit and compensation committees.
Life Partners' Chairman, Brian Pardo, told shareholders that the company projects significant business increases in the second half of the current fiscal year that will lead to its projection of $1.00 per share earnings previously announced on July 15, 2002.
In addition, Life Partners management said it expects the company to increase its earnings in the second quarter over the first quarter of the current fiscal year. The company also said it intends to continue its quarterly dividend of 2 1/2 cents per share or 10 cents per share annually. The company has approximately 9,600,000 shares outstanding. |
