-- Mortgage Bankers Holding Corp. Announces Acceptance By Board Of Directors --
/FROM PR NEWSWIRE MIAMI 305-461-8666/
TO BUSINESS EDITOR:
Mortgage Bankers Holding Corp. Announces Acceptance By Board Of Directors
Nominees, Answers Shareholders' Questions
CARNEGIE, Pa., Nov. 25 /PRNewswire/ -- Mortgage Bankers Holding Corp.
(OTC Bulletin Board: MBHC) announced today the acceptance by Leigh A. Wilson,
Royce N. Flippin, Jr., Christopher D. Illick, and James L. Burmeister, of
their respective nominations to the Board or Directors of MBHC. Messrs.
Wilson, Flippin, Illick, and Burmeister were nominated to the MBHC Board,
subject to shareholder approval, at a Special Meeting of the current Board of
Directors which was held last Tuesday.
In an effort to clarify the announcement of last week regarding its
agreement with National Institute Companies of America ("NICA") and to respond
to recent shareholder inquiries, MBHC further reports as follows:
MBHC is acquiring all of the authorized stock of NICA vis a vis a Stock
Purchase Agreement.
NICA will be a wholly owned subsidiary of Mortgage Bankers Holding Corp.
MBHC will remain a publicly held and traded entity.
NICA has current annual revenues of $2,500,000.
Post-acquisition revenues of MBHC and NICA will be reported on the books
of MBHC on a consolidated basis.
ChaseMellon Shareholder Services, LLC is the stock transfer agent of
record for MBHC.
MBHC will not be raising further capital through the issuance of a 504
offering.
Financial statements in this press release other than historical facts are
"forward-looking" statements within the meaning of Section 27A of the
Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and
as that term is defined in the Private Securities Litigation Reform Act of
1995. The Company intends that such statements about the Company's future
expectations, including future revenues and earnings, and all other "forward-
looking" statements be subject to the safe harbors created thereby. Since
these statements (future operational results and sales) involve risks and
uncertainties and are subject to change at any time, the Company's actual
results could differ materially from expected results.
Comments regarding this announcement may be made directly to James F.
Carr, Chairman of Mortgage Bankers Holding Corp., at (888) BANKER1.
SOURCE Mortgage Bankers Holding Corp.
/CONTACT: James F. Carr, Chairman, Mortgage Bankers Holding Corp.,888-BANKER1/
Symbols:
US;MBHC
Source PRN - PR NewsWire
Categories:
NWR/PA NWI/FIN NWS/PER
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