PMC Capital Announces Results of Annual Meeting
December 30 2003 - 4:49PM
PR Newswire (US)
PMC Capital Announces Results of Annual Meeting DALLAS, Dec. 30
/PRNewswire-FirstCall/ -- PMC Capital, Inc. ("PMC Capital")
announced today the results of its Annual Meeting held December 30,
2003. Shareholders of PMC Capital, among other things, approved the
Plan and Agreement of Merger between PMC Capital and PMC Commercial
Trust ("PMC Commercial") providing for the merger of PMC Capital
into PMC Commercial. Completion of the merger remains subject to
approval by the shareholders of PMC Commercial, regulatory
approvals and customary closing conditions. PMC Commercial has
adjourned their Annual Meeting of shareholders scheduled for
December 30, 2003 for the purpose of soliciting additional votes.
The PMC Commercial meeting will be reconvened on Friday, January 9,
2004 at 4:00 PM Central time. In addition to the approval of the
Plan and Agreement of Merger, PMC Capital shareholders ratified the
selection of PricewaterhouseCoopers LLP to serve as the company's
independent public accountants for the year ending December 31,
2003 and elected Fredric Rosemore and Lance Rosemore to serve as
directors for a term of three years. Lance Rosemore, Chief
Executive Officer of PMC Capital, commented, "We are pleased that
our shareholders have approved the merger with PMC Commercial
Trust, and we will continue to work to consummate the merger."
Subject to the approval of the merger by PMC Commercial
shareholders and other conditions to closing, PMC Capital is
working to complete the merger during the first quarter of 2004 but
in no event, later than February 29, 2004. PMC Capital is a
closed-end investment company that originates commercial mortgages
and manages, through a subsidiary, a real estate investment trust,
PMC Commercial Trust. Certain matters discussed in this press
release are "forward-looking statements." These forward-looking
statements can generally be identified as such because the context
of the statement will include words such as the Company "expects,"
"anticipates" or words of similar import. Similarly, statements
that describe the Company's future plans, objectives or goals are
also forward-looking statements. Such forward-looking statements
can be subject to certain risks and uncertainties, including the
financial performance of the Company, real estate conditions and
market valuations of its stock, which could cause actual results to
differ materially from those currently anticipated. Although the
Company believes the expectations reflected in any forward-looking
statements are based on reasonable assumptions, the Company can
give no assurance that its expectations will be attained.
Shareholders, potential investors and other readers are urged to
consider these factors carefully in evaluating the forward-looking
statements. The forward-looking statements made herein are only
made as of the date of this press release and the Company
undertakes no obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances.
DATASOURCE: PMC Capital, Inc. CONTACT: Investor Relations of PMC
Capital, Inc., +1-972-349-3256 Web site: http://www.pmccapital.com/
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