ARLINGTON, Va., June 14, 2016 (GLOBE NEWSWIRE) -- FBR & Co. (NASDAQ:FBRC) a leading investment bank serving the middle market, today reported that preliminary voting results provided by FBR’s proxy solicitor indicate that FBR shareholders have re-elected all eight of FBR’s director nominees: Reena Aggarwal, Richard J. Hendrix, Thomas J. Hynes, Jr., Richard A. Kraemer, Allison M. Leopold Tilley, Mark R. Patterson, Arthur J. Reimers and William F. Strome. Final certified voting results are expected to be made publicly available later this month.
“We deeply appreciate the support of our shareholders, and are grateful for their positive response to our frequent and transparent dialogue with them. We have always valued the open lines of communication we maintain with shareholders and look forward to continuing to closely collaborate on issues of governance and strategy,” said Chairman and Chief Executive Officer, Richard J. Hendrix. “Our Board and management team remain committed to our approach to growing shareholder value and are keenly focused on making well-informed decisions from an investor perspective. It is unfortunate that the conduct of one individual has caused the irretrievable loss of time, direct expense, and needless distraction for employees and clients. We are pleased to be able to put this matter behind us and continue to focus on what’s truly important: executing for our clients and creating lasting shareholder value.”
The overwhelming majority of FBR shareholders voted in favor of the company’s slate of director nominees at the annual meeting, where approximately 85% of the company’s outstanding shares were represented. The independent Inspector of Election, IVS Associates, Inc. expects to issue certified results in due course, following the customary review and certification period. Neither J. Daniel Plants nor his nominees attended the annual meeting and his representatives elected not to address the annual meeting during the time allotted to them.
FBR shareholders also voted in favor of following proposals submitted for a vote at the annual meeting:
- to approve, on an advisory basis, the compensation for named executive officers, as disclosed in the proxy statement; and
- to ratify the appointment of BDO USA, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2016.
FBR will file the results with the Securities and Exchange Commission (the “SEC”) in a Current Report on a Form 8-K, also containing further details regarding the results of the 2016 Annual Meeting. Shareholders are able to obtain at no charge copies of the form 8-K filing, and other documents filed with the SEC, at the SEC’s website at www.sec.gov. In addition, copies are also available at no charge at the Investor Relations section of FBR’s website at www.fbr.com.
About FBR
FBR & Co. (Nasdaq:FBRC) provides investment banking, merger and acquisition advisory, institutional brokerage, and research services through its subsidiaries FBR Capital Markets & Co. and MLV & Co. FBR focuses capital and financial expertise on the following industry sectors: consumer; energy & natural resources; financial institutions; healthcare; industrials; insurance; real estate; and technology, media & telecom. FBR is headquartered in the Washington, D.C. metropolitan area with offices throughout the United States. For more information, please visit www.fbr.com.
