MedAmerica Properties Inc. (OTCMKTS:MAMP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective August 23, 2017, Joseph C. Bencivenga and Bennett Marks were appointed to the board of directors of MedAmerica Properties Inc. (“MedAmerica” or the “Company”). In addition, Mr. Bencivenga was promoted to chief executive officer.

Mr. Bencivenga, 58, joined MedAmerica as president effective August 8 of this year. Prior to joining the Company, he spent more than 30 years in investment banking in New York, California, and London with Barclays Capital, Salomon Brothers, Drexel Burnham, and Lehman Brothers. He has also served as a board member for numerous companies providing strategic financial advice in businesses in real estate, music, gaming, solid waste management, and many other industries. Prior to this role, Mr. Bencivenga was a founding partner of a $5 billion hedge fund whose business included lending to and investing private equity in small to medium sized companies. During his tenure at Barclays Capital, Mr. Bencivenga served as Managing Director/Global Head of High Yield, and his team originated over 75 high yield, mezzanine and bridge loan transactions and acted as lead or joint lead on over twenty transactions.

Bennett Marks, 69, previously served as a member of the Company’s board from November 2008 to October 2013 and chief financial officer from November 2008 to May 2010. Mr. Marks has been executive vice president and CFO of Patriot Rail Corp., an owner and operator of short line and regional railroads, since 2005. Mr. Marks has served as EVP and CFO of six publicly-held and privately-owned companies in the transportation, healthcare, manufacturing, distribution and telecommunications industries. While CFO at RailAmerica, Inc., he developed and implemented the financial framework of the company as revenues grew from $130 million to $450 million. Mr. Marks has more than twenty years of experience in public accounting, including ten years as an audit/client services partner with KPMG where he was an Associate SEC Reviewing Partner and the Administrative Partner in Charge of the West Palm Beach office. A licensed CPA in Florida and New York, he has held leadership positions in a variety of community, charitable, and professional organizations. Mr. Marks received his degree in accounting from New York University.

On August 25, 2017, the Company issued a press release announcing the appointment of Mr. Bencivenga and Mr. Marks to the board and Mr. Bencivenga’s promotion to chief executive officer. A copy of the press release is attached as Exhibit 99.1 hereto and incorporated herein by reference.

MedAmerica Properties Inc. Exhibit
EX-99.1 2 v474076_ex99-1.htm EXHIBIT 99.1   Exhibit 99.1   Bencivenga and Marks Join MedAmerica Properties Inc. Board     BOCA RATON,…
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About MedAmerica Properties Inc. (OTCMKTS:MAMP)

MedAmerica Properties Inc., formerly Banyan Rail Services Inc., is focusesd on acquiring and management of medical office buildings. The Company has not generated any revenues. The Company may also explore acquisitions in other industries. The Company does not have any operations.

MedAmerica Properties Inc. (OTCMKTS:MAMP) Recent Trading Information

MedAmerica Properties Inc. (OTCMKTS:MAMP) closed its last trading session 00.00 at 8.00 with 100 shares trading hands.