ROYAL BANCSHARES OF PENNSYLVANIA, INC. (NASDAQ:RBPAA) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07
|
Submission of Matters to a Vote of Security Holders
|
Meeting), shareholders of Royal Bancshares of Pennsylvania, Inc.
(the Corporation), parent company of Royal Bank America, voted to
approve the merger agreement dated January 30, 2017, by and
between the Corporation and Bryn Mawr Bank Corporation, parent
company of The Bryn Mawr Trust Company, which provides for, among
other things, the merger of the Corporation with and into Bryn
Mawr Bank Corporation (the Merger).
27,913,024 shares of the Corporations Class A common stock and
1,924,629 shares of the Corporations Class B common stock
outstanding, entitled to cast an aggregate of 47,159,314 votes at
the Special Meeting. Of such shares of Class A and Class B common
stock, shares representing an aggregate of 39,506,473 votes were
present in person or by proxy at the Special Meeting, which
constituted a quorum to conduct business at the Special Meeting.
Each share of Class A common stock was entitled to one vote and
each share of Class B common stock was entitled to ten votes on
each matter considered at the Special Meeting.
the Corporation were all approved, and the voting results were as
follows:
Plan of Merger, dated as of January 30, 2017, between the
Corporation and Bryn Mawr Bank Corporation.
|
Votes
For
|
Votes
Against
|
Abstentions
|
Broker Nonvotes
|
|
38,963,001
|
538,806
|
4,666
|
of certain compensation arrangements in connection with the
Merger.
|
Votes
For
|
Votes
Against
|
Abstentions
|
Broker Nonvotes
|
|
35,582,442
|
3,870,475
|
53,556
|
the Special Meeting, if necessary, to solicit additional proxies.
|
Votes
For
|
Votes
Against
|
Abstentions
|
Broker Nonvotes
|
|
38,802,240
|
686,729
|
17,504
|
About ROYAL BANCSHARES OF PENNSYLVANIA, INC. (NASDAQ:RBPAA)
Royal Bancshares of Pennsylvania, Inc. is a bank holding company. The Company offers a range of financial and banking products and services. The principal activities of the Company are supervising Royal Bank America (Royal Bank), which engages in general banking business. It operates through two segments: Community Banking and Tax Liens. Its community banking segment consists of commercial and retail banking and equipment leasing. The community banking business segment includes Royal Bank and Royal Bank Leasing, and offers a range of products and services. Its tax liens segment includes ownership interest in Crusader Servicing Corporation and Royal Tax Lien Services, LLC. Royal Bank conducts business operations as a commercial bank offering consumer and business deposit products and services, and commercial and consumer loans, including home equity and small business administration loans. It also offers a range of services, such as cash management products and mobile deposits. ROYAL BANCSHARES OF PENNSYLVANIA, INC. (NASDAQ:RBPAA) Recent Trading Information
ROYAL BANCSHARES OF PENNSYLVANIA, INC. (NASDAQ:RBPAA) closed its last trading session down -0.06 at 4.10 with 38,215 shares trading hands.