Homeowners Choice to Transfer Its Common Shares to New York Stock Exchange
October 11 2012 - 6:00PM
Homeowners Choice, Inc. (Nasdaq:HCII), a leading provider of
homeowners' insurance, today announced that it will transfer the
listing of its common stock from the NASDAQ Global Select Market to
the New York Stock Exchange. The company expects its shares to
begin trading on the New York Stock Exchange on Oct. 25, 2012,
under the new ticker symbol "HCI." Until the transfer is complete,
the company's common shares will continue to trade under the ticker
symbol "HCII" on the NASDAQ Global Select Market.
"We have grown Homeowners Choice to be one of the leading
providers of property and casualty insurance in the state of
Florida," said Paresh Patel, chairman of the board and chief
executive officer of Homeowners Choice. "The move to the New York
Stock Exchange is another step in creating long-term value for our
shareholders."
"Homeowners Choice will be a welcome and valued addition to the
NYSE listed company community," said Scott R. Cutler, Executive
Vice President and Co-Head of U.S. Listings and Cash Execution,
NYSE Euronext. "We look forward to a lasting partnership with the
company and its shareholders."
The company's Series A, cumulative redeemable preferred stock
(Nasdaq:HCIIP) will remain listed and continue to trade on the
NASDAQ Capital Market. Warrants issued by the company in its
initial public offering (Nasdaq:HCIIW) will remain listed and
continue to trade on the NASDAQ Global Market. The warrants,
however, are scheduled for cancellation on October 27, 2012.
About Homeowners Choice,
Inc.
Homeowners Choice, Inc. is a Florida-based insurance holding
company headquartered in Tampa. Through its subsidiary
corporations, Homeowners Choice provides property and casualty
homeowners' insurance, condominium owners' insurance and tenants'
insurance. Founded in 2006, Homeowners Choice serves approximately
110,000 policyholders throughout Florida representing approximately
$220 million in annualized premiums. The company's common shares
trade on the NASDAQ Global Select Market under the ticker symbol
HCII and are included in the Russell 2000 Index. Its warrants trade
on the NASDAQ Global Market under the ticker symbol HCIIW. Its
Series A, cumulative redeemable preferred shares trade on the
NASDAQ Capital Market under the ticker symbol HCIIP. More
information about Homeowners Choice, Inc. is available at
www.hcpci.com.
The Homeowners Choice, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6712
Forward-Looking Statements
This news release may contain forward-looking statements made
pursuant to the Private Securities Litigation Reform Act of 1995.
Words such as "anticipate," "estimate," "expect," "intend," "plan"
and "project" and other similar words and expressions are intended
to signify forward-looking statements. Forward-looking statements
are not guarantees of future results and conditions but rather are
subject to various risks and uncertainties. Some of these risks and
uncertainties are identified in the company's filings with the
Securities and Exchange Commission. Should any risks or
uncertainties develop into actual events, these developments could
have material adverse effects on the company's business, financial
condition and results of operations. Homeowners Choice, Inc.
disclaims all obligations to update any forward-looking
statements.
CONTACT: Media Contact:
Suzie Boland
RFB Communications Group
813.259.0345
sboland@rfbcommunications.com
Investor Relations Contact:
Jay Madhu
Homeowners Choice, Inc.
813.405.3660
jmadhu@hcpci.com
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