Signature Group Holdings' Stockholders Approve Reincorporation in Delaware
SHERMAN OAKS, Calif., Dec. 30, 2013
SHERMAN OAKS, Calif., Dec. 30, 2013 /PRNewswire/ --Signature Group Holdings,
Inc. (OTCQX: SGGH) today held its previously announced special meeting of
stockholders, who voted to approve the Company's proposal to reincorporate
from Nevada to Delaware via a merger into a Delaware entity.
Signature's Chief Executive Officer, Craig Bouchard said: "I would like to
personally thank our stockholders for their recognition of the importance of
reincorporating the company into Delaware. More than 93% of the voted shares
endorsed our request. This approval was an important step in our plan to grow
The reincorporation will be effective upon certain state, securities law and
other filings and notices, which the Company intends to complete shortly.
About Signature Group Holdings, Inc.
Signature is a public company seeking to invest its capital in large,
well-managed and consistently profitable businesses concentrated primarily in
the United States industrial and commercial marketplace. The company has
significant capital resources and federal net operating loss tax carryforwards
of approximately $887.3 million. For more information about Signature, please
visit its corporate website at www.signaturegroupholdings.com.
Cautionary Statement Regarding Forward-Looking Statements
This release contains forward-looking statements, which are based on current
expectations, estimates, and projections about the Company's business and
prospects, as well as management's beliefs, and certain assumptions made by
management. Words such as "anticipates," "expects," "intends," "plans,"
"believes," "seeks," "estimates," "may," "should," "will" and variations of
these words are intended to identify forward-looking statements. Such
statements speak only as of the date hereof and are subject to change. The
Company undertakes no obligation to publicly revise or update any
forward-looking statements for any reason. These statements include, but are
not limited to, statements about the Company's expansion and business
strategies and anticipated growth opportunities and the amount of fundraising
necessary to achieve it. Such statements are not guarantees of future
performance and are subject to certain risks, uncertainties, and assumptions
that are difficult to predict. Accordingly, actual results could differ
materially and adversely from those expressed in any forward-looking
statements as a result of various factors. Important factors that may cause
such a difference include, but are not limited to, the demand for Industrial
Supply's products; the Company's ability to successfully identify, consummate
and integrate the acquisitions of other businesses; the Company's ability to
open warehouses in additional geographic regions; changes in business or other
market conditions; the difficulty of keeping expense growth at modest levels
while increasing revenues; the Company's ability to successfully defend
against current and new litigation matters as well as demands by investment
banks for defense, indemnity, and contribution; obtaining the expected
benefits of the reincorporation; and other risks detailed from time to time in
the Company's Securities and Exchange Commission filings, including, but not
limited to, the Definitive Proxy Statement for the Special Meeting, the most
recently filed Annual Report on Form 10-K and subsequent reports on Forms 10-Q
SOURCE Signature Group Holdings, Inc.
Contact: Signature Group Holdings, Inc., Jeff Crusinberry, SVP and Treasurer,
(805) 435-1255, firstname.lastname@example.org
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