Dynex Capital and Leeward Capital Reach Settlement Agreement.Business Editors GLEN ALLEN Glen Allen is the name of several places in the United States of America:
Dynex Capital, Inc. (NYSE NYSE See: New York Stock Exchange : DX) and Leeward Capital, L.P. announced today a definitive agreement which ends Leeward Capital's proxy solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual to replace two existing directors elected by the common shareholders with two new directors nominated by Leeward Capital. Under the agreement, Mr. Eric Von der Porten will be added to the slate of candidates nominated by the Dynex Board for election as directors at the 2002 annual meeting of stockholders to be held on May 14, 2002. This will raise the number of Board candidates to seven, including the six current Dynex Board members who are standing for re-election. If elected, Mr. Von der Porten as well as all other directors will serve for a one-year term. The addition of Mr. Von der Porten as a nominee to the Board will be described in a supplement to the Dynex proxy statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. to be filed with the SEC and mailed to Dynex shareholders. In addition, Dynex will be filing the settlement agreement with the SEC as part of a current report on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. . Thomas H. Potts, President of Dynex, stated, "We are pleased with the resolution agreed to by all parties. We look forward to working with Mr. Von der Porten in continuing to enhance shareholder value." Note: This document contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " (within the meaning of the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995) that inherently involve risks and uncertainties. Dynex actual results could differ materially from those anticipated in these forward-looking statements as a result of unforeseen external factors. As discussed in Dynex filings with the SEC, these factors may include, but are not limited to, changes in general economic conditions, disruptions in the capital markets, the ability of Dynex to successfully implement a new business direction, fluctuations in interest rates, increases in costs and other general competitive factors. |
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