|
|
News Breaks | | | | October 10, 2012 | | 09:12 EDT |  | MLVF | Malvern Federal Bancorp plan of conversion and reorganization approved
Malvern Federal Bancorp, the holding company for Malvern Federal Savings Bank, announced that the Plan of Conversion and Reorganization, providing for the "second-step" conversion of Malvern Federal Mutual Holding Co., the company's mutual holding company parent, was approved by the shareholders of the company and the members of the mutual holding company at separate meetings held on Oct. 2. The conversion and offering are expected to be completed on or about Oct. 11. The closing of the transaction is subject to the satisfaction of final regulatory approval and customary closing conditions. As a result of the conversion and offering, Malvern Federal Mutual Holding Co. and the company will cease to exist and Malvern Bancorp, the new Pennsylvania corporation formed to facilitate the conversion, will become the parent holding company of the Bank and will be wholly owned by public shareholders. A total of 3,636,875 shares of common stock of Malvern Bancorp-New is expected to be sold in the subscription offering at $10.00 per share for gross proceeds of $36.4M. | |
|
News For MLVF From The Last 14 Days Check below for free stories on MLVF the last two weeks. |
|
|
| There are no results for MLVF |
|
|
|
|
|
|
