HOUSTON and TUPELO,
Miss., Dec. 30, 2024 /PRNewswire/ -- Cadence Bank
(NYSE: CADE) (the Company) today announced it has adjourned its
special meeting of shareholders held this afternoon until
Monday, Jan. 27, 2025, at
3 p.m. Central Standard Time. The
special meeting was adjourned to allow the Company additional time
to solicit proxies from preferred shareholders in favor of a
proposal (Proposal 2) to authorize the Cadence Bank board of
directors to implement repurchases of stock in accordance with
Regulation H.
As previously reported, in addition to Proposal 2, the special
meeting is being held to approve proposals related to amendments to
the Company's Articles of Incorporation (Proposal 1), a new
long-term incentive plan (Proposal 3) and adjourning the special
meeting, if necessary, to allow time for further solicitation of
proxies in the event there are insufficient votes present at the
meeting to approve Proposals 1, 2 or 3 (Proposal 4). These
proposals are described in more detail in the Company's proxy
statement dated Nov. 19, 2024, furnished to the Company's
shareholders in connection with the solicitation of proxies by the
Company's board of directors for use at the special meeting. The
Company's common shareholders approved Proposals 1, 2, 3 and 4 at
the special meeting today prior to adjournment, which addressed all
the business to be voted upon by common shareholders at the special
meeting. The Company's preferred shareholders approved Proposal 4
today prior to adjournment.
The record date for determining shareholders eligible to vote at
the special meeting will remain the close of business on
Nov. 8, 2024. Valid proxies submitted
by Company preferred shareholders prior to the adjourned
Dec. 30, 2024, special meeting will
continue to be valid for purposes of the reconvened special meeting
scheduled for Monday, Jan. 27,
2025.
Cadence Bank preferred shareholders as of the close of business
on Nov. 8, 2024, who have not voted
on Proposal 2 but wish to do so should contact Okapi Partners,
Cadence's proxy solicitor, at info@okapipartners.com or
855-208-8902 (toll-free) to provide voting instructions.
Attending the Virtual Special Meeting
The reconvened special meeting of Cadence Bank preferred
shareholders to vote on Proposal 2 will be held virtually on
Monday, Jan. 27, 2025, at
3 p.m. Central Standard Time.
Preferred shareholders may attend and participate in the
reconvened special meeting virtually by visiting the following web
address, meetnow.global/MLVC22S, and entering the 15-digit control
number found on the Notice of Internet Availability of Proxy
Materials (Notice) received. Preferred shareholders who hold shares
through an intermediary, such as a bank or broker, must register in
advance using the instructions in the Notice materials.
About Cadence Bank
Cadence Bank (NYSE: CADE) is a leading regional banking
franchise with approximately $50 billion in assets and
over 350 branch locations across the South and Texas. Cadence
provides consumers, businesses and corporations with a full range
of innovative banking and financial solutions. Services and
products include consumer banking, consumer loans, mortgages, home
equity lines and loans, credit cards, commercial and business
banking, treasury management, specialized lending, asset-based
lending, commercial real estate, equipment financing, correspondent
banking, SBA lending, foreign exchange, wealth management,
investment and trust services, financial planning and retirement
plan management. Cadence is committed to a culture of respect,
diversity, equity, inclusion and belonging in both its workplace
and communities. Cadence Bank, Member FDIC. Equal Housing
Lender.
Additional Information
This communication may be deemed to be additional solicitation
material with respect to the special meeting. On November 19, 2024, Cadence Bank filed a
definitive proxy statement with the Federal Deposit Insurance
Corporation ("FDIC") in connection with the special meeting.
SHAREHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE
PROXY STATEMENT AND ANY OTHER SOLICITING MATERIALS THAT ARE FILED
WITH THE FDIC OR FEDERAL RESERVE WHEN THEY BECOME AVAILABLE BECAUSE
THESE DOCUMENTS CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND
THE PROPOSAL TO BE VOTED UPON. The Company's proxy statement and
any other solicitation materials filed by the Company with the FDIC
and Federal Reserve can be obtained free of charge at the FDIC's
and Federal Reserve's respective websites, as well as the Investor
Relations section of our website at ir.cadencebank.com.
Shareholders may also request a copy of these materials at no cost
by contacting the Company at 201 South Spring Street, Tupelo, Mississippi 38804, or 1-800-368-5948.
The Company has engaged Okapi Partners LLC to aid in the
solicitation of proxies. Detailed information regarding the
identity of participants, and their respective interests in the
Company by security holdings or otherwise, are set forth in the
definitive proxy statement for the special meeting.
Forward Looking Statements
This press release may contain certain "forward-looking
statements" including statements concerning plans, objectives,
future events or performance and assumptions and other statements,
which are statements other than statements of historical fact. The
Company cautions readers that certain factors may have affected and
could in the future affect actual results and could cause actual
results for subsequent periods to differ materially from those
expressed in any forward-looking statement made by or on behalf of
the Company herein. For a list of factors which could affect the
Company's results, see the Company's filings with the FDIC and
Federal Reserve, including "Item 1A. Risk Factors," set forth in
the Company's Annual Report on Form 10-K for the fiscal year ended
December 31, 2023. You should not
place undue reliance on any forward-looking statements. These
statements speak only as of the date of this filing, even if
subsequently made available by the Company on its website or
otherwise. The Company undertakes no obligation to update or revise
these statements to reflect events or circumstances occurring after
the date of this press release.
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SOURCE Cadence Bank
