BNC Mortgage, Inc. Amends Its Stockholder Rights Plan.IRVINE, Calif.--(BUSINESS WIRE)--Jan. 6, 1999--BNC Mortgage, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BNCM BNCM Bayesian Network Causal Model ) (the "Company"), Wednesday announced that it has amended its Stockholder Rights Plan. The Stockholder Rights Plan was adopted by the Company on October 13, 1998 to assure that the Company's stockholders would receive fair and equal treatment in the event of a proposed takeover of the Company and to guard against partial tender offers, squeeze outs, open-market accumulations and other abusive tactics to gain control of the Company without paying all stockholders a control premium. The amendments to the Rights Plan increased the percentage of the Company's securities a person could accumulate from 15% to 20% without triggering the detachment and distribution of the Rights. Concerning the amendment to the Stockholder Rights Plan, Kelly Monahan, President of the Company stated: "this provides more flexibility to our institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. in accumulating our common stock and holding it for investment." BNC (hardware) BNC - A connector for coaxial cable such as that used for some video connections and RG58 "cheapernet" connections. A BNC connector has a bayonet-type shell with two small knobs on the female connector which lock into spiral slots in the male connector when it is twisted Mortgage, Inc., is a specialty finance company engaged in the business of originating, purchasing and selling, on a whole loan basis for cash, non-conforming and, to a lessor One who rents real property or Personal Property to another. A lessor of land is a landlord. Cross-references Landlord and Tenant. lessor n. the owner of real property who rents it to a lessee pursuant to a written lease. extent, conforming, residential mortgage loans secured by one-to-four family residences. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion