Ranch Capital Reaches Agreement With the OEC of Fremont General Corporation
SAN DIEGO, CA–(Marketwire – Feb 17, 2010) – Ranch Capital, LLC (“Ranch Capital”) is appreciative to make well known that it has reached an agreement (the “Agreement”) with the Official Committee of Equity Holders (the “OEC”) of Fremont General Corporation (“Fremont”) (PINKSHEETS: FMNPQ) whereby Ranch Capital will repel the Plan and await the OEC Plan. Accordingly, Ranch Capital urges all shareholders and creditors to accept the OEC Plan for the reorder of Fremont and to reject all pick plans.
The Agreement contemplates contracting Ranch Capital government on an halt basement whilst long-term government arrangements have been finished by the brand new Board of Directors and Ranch Capital. Additionally, the halt Board of Directors will enclose dual members from Ranch Capital if the TOPrS reject the OEC Plan and one part of from Ranch Capital if the TOPrS accept the OEC Plan. These Board members will offer until a grave stockholders assembly can be conducted and a continually constituted Board can be elected. The grave stockholders assembly will be hold as shortly as the last sum on the batch registration have been concluded on with the SEC.
Lawrence S. Hershfield, Ranch Capital’s Chief Executive Officer, stated, “We have been vehement to mix with the OEC in an bid to show off the worth of Fremont for the shareholders and creditors, and we conclude the OEC’s certainty in the capability to do so. We have been appreciative that the OEC chose to mix with Ranch Capital, instead of possibly of the pick devise proponents with warden management. We hold that the knowledge and expertise, in multiple with that of the pick Board members that will be allocated by the OEC, will emanate the many appropriate pick for Fremont’s shareholders and creditors.”
Please stick on us in usurpation the OEC Plan for the reorder Fremont and rejecting all pick plans. Any shareholder or creditor that has already submitted his or her list and wishes to shift such list should hit Kurtzman Carson Consultants LLC (“KCC”) at (888) 647-1732 or at http://www.kccllc.net/fremontgeneral. Please note that votes contingency be perceived by KCC by Mar 5, 2010.
About Ranch Capital
Ranch Capital is a in isolation equity organisation founded in Oct 2002 that specializes in singular investment opportunities that paint poignant expansion opportunities or have been undervalued, out of preference or in need of monetary or operational restructuring. Founders Lawrence S. Hershfield and Randall L. Jenson retain some-more than thirty years of applicable comparison government knowledge in leading, managing, operating, mending and investing in companies.
Since the inception, Ranch Capital and the partners have committed approximately $2 billion of capital, together with poignant investments in companies or resources in Financial Services, Real Estate, Energy, Mining, Transportation and Gaming. Ranch Capital has partnered with a little of the many well-respected investors in the world, together with Berkshire Hathaway, Inc., Leucadia National Corporation, the Royal Bank of Scotland and Bregal Investments. Investments to date have ranged in distance from $2 million to over $500 million.
Cautionary Statements
This headlines recover contains forward-looking information. Statements contained in this headlines recover relating to destiny results, events and expectations have been forward-looking statements inside of the definition of Section 27A of the Securities Act of 1933, as nice and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements might engage well known and opposite risks and pick factors and uncertainties that might means the tangible formula to be materially opposite from those voiced or pragmatic by such statements. Ranch Capital does not have any goal or requisite to refurbish forward-looking statements enclosed in this press recover after the date of this press release, solely as compulsory by law. No batch sell or regulatory management has authorized or disapproved of the report contained herein.
