wmi holdings corp (WMIH) Key Developments
WMI Holdings Corp. Announces Board and Committee Changes
Feb 27 15
WMI Holdings Corp. announced that on February 25, 2015, Timothy R. Graham provided conditional notice of his resignation from the Board of Directors of WMI Holdings Corp. and from the Compensation Committee of the Board, and Mark E. Holliday provided conditional notice of his resignation from the Board and from the Audit Committee and Nominating and Corporate Governance Committee of the Board and the Board of the company's subsidiary, WM Mortgage Reinsurance Company Inc. Each such resignation is conditioned upon and will be effective immediately upon the consummation of the anticipated reincorporation of the company from the State of Washington to the State of Delaware. The consummation of the Reincorporation is subject to a vote of the company's shareholders (the Shareholders), which is expected to occur on April 28, 2015.
WMIH Eyes Acquisitions
Jan 5 15
WMI Holdings Corp. (OTCPK:WMIH) is looking for acquisition opportunities. WMIH, whose common shares trade over the counter, said it had sold new convertible preferred stock to Citigroup Global Markets and KKR Capital Markets. Total proceeds were $598 million, but after expenses and fees WMIH will have about $568 million to spend. "With this capital we intend to continue to pursue opportunities for acquisitions of companies with operations that are complemented by the experience and expertise of our board and management team," said Michael Willingham, Chairman of WMIH in the Securities and Exchange Commission filing. A spokesman for WMI Holdings said it had no additional comment on the funding or its future plans.
WMI Holdings Seeks Acquisitions
Dec 19 14
WMI Holdings Corp. (OTCPK:WMIH) is looking for acquisition opportunities. WMI Holdings announces pricing of private offering of 0.6 million of shares and intends to use the net proceeds of the offering, expected to be approximately $568.7 million, to explore and fund, in whole or in part, acquisitions, whether completed or not, including reasonable attorney fees and expenses, accounting expenses, due diligence and financial advisor fees and expenses.
WMI Liquidating Trust Announces Cash Distribution for the Period Ended June 30, 2014
Jul 30 14
WMI Liquidating Trust intends to initiate the $78 million Distribution on August 1, 2014. Additional information regarding the Distribution will be reflected on the next Quarterly Summary Report for the period ended June 30, 2014.
WMI Liquidating Trust Announces Executive Changes
Jun 20 14
On June 16, 2014, Joseph McInnis resigned as a member of the Trust Advisory Board of WMI Liquidating Trust, effective immediately. Mr. McInnis was also a member of the company's Litigation Subcommittee. On June 16, 2014, in accordance with the terms of the Trust Agreement, which provides the TPS Funds with the right to appoint one member to the TAB, the TPS Funds appointed Paul A. Martin to the TAB in the capacity as
TPS Designee. Mr. Martin was also appointed to the Litigation Subcommittee.