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Stock Market & Financial Investment News

News Breaks
June 19, 2014
05:23 EDTBAABanro Corporation receives recommendation by Glass Lewis
Banro Corporation announced that in its report issued on June 18, Glass Lewis recommended shareholders vote FOR all of management's director nominees on the company's BLUE proxy card and DO NOT VOTE on the green dissident proxy. In their report, Glass Lewis states that Banro has been "proactive in making positive governance changes," and cites the addition of four new independent directors and a new independent chairman within the past 12 months as reasons to support management's nominees. Likewise, Glass Lewis alludes to Liberty Street's failure to "put forth any sort of cogent operational and/or strategic plan to improve the company's performance" and their "miniscule equity stake" acquired after the Record Date as reasons NOT to vote on the green dissident proxy. Glass Lewis also notes that they "believe the company has made a number of positive operational moves in the past year that could enhance the overall outlook for the company and its shareholders." This is the second independent proxy advisory firm to announce their support for management, as Institutional Shareholder Services also recommended shareholders vote FOR Banro's nominees.
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September 22, 2014
05:20 EDTBAABanro Corporation comments on market activity
Banro Corporation wishes to comment on the unusual market activity and volatility of its common shares experienced on both the Toronto and New York stock exchanges on Friday September 19. The company continues with the plans set out in its August 18 press release and has no news pending at this time and no material changes to report. It came to the attention of the company that there was a rebalancing of the GDXJ Index. A market announcement regarding this was made early in the week of September 15 and the company understands that the transaction closed on Friday September 19. The company also understands that this ETF held approximately 25.6M Banro common shares prior to rebalancing.

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