PMA Capital to Amend Section 382 Rights Plan
2010年4月28日 - 5:36AM
ビジネスワイヤ(英語)
PMA Capital Corporation (NASDAQ: PMACA) (the “Company”)
today announced that its Board of Directors determined that if the
Company’s shareholders vote to approve the Section 382 Shareholder
Rights Plan dated as of August 6, 2009 (the “Rights Plan”) at the
Annual Meeting of Shareholders to be held on May 5, 2010 (the
“Approval Date”), the Board will promptly amend the Rights Plan to
require that it be submitted to the shareholders for their approval
every three years following the Approval Date for so long as the
Rights Plan remains in effect. The proposal to approve the Rights
Plan is set forth in the Company’s Proxy Statement for the 2010
Annual Meeting of Shareholders, which was mailed to the Company’s
shareholders on or about March 30, 2010.
The Board of Directors of the Company adopted the Rights Plan in
order to protect the Company’s ability to use its net operating
loss carry forwards to reduce potential future federal income tax
obligations. The Rights Plan will expire on August 6, 2010 if
shareholder approval of the Rights Plan is not obtained before
then.
PMA Capital Corporation, headquartered in Blue Bell,
Pennsylvania, is a holding company whose operating subsidiaries
provide insurance and fee-based services. Insurance products
include workers’ compensation and other commercial property and
casualty lines of insurance. Fee-based services include third party
administrator, managing general agent and program administrator
services. The operating subsidiaries are marketed under PMA
Companies and include The PMA Insurance Group, PMA Management
Corp., PMA Management Corp. of New England and Midlands Management
Corporation.
For additional information, visit www.pmacapital.com.
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