T Bancshares, Inc. (OTCMKTS:TBNC) 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
special meeting of the Companys shareholders (the Special
Meeting). There were 4,051,657 shares of the Companys common
stock outstanding on the record date and entitled to vote at the
Special Meeting and 3,280,939 shares were represented in person
or by proxy, which constituted a quorum to conduct business at
the Special Meeting. Shareholders of the Company voted on and
approved the following proposals, which are described in more
detail in the Companys Definitive Proxy Statement on Schedule 14A
for the 2017 Special Meeting of Shareholders filed by the Company
with the Securities and Exchange Commission on February 10, 2017
(the Proxy Statement):
|
(1)
|
To approve the Agreement and Plan of Merger (the merger
agreement), to which T Acquisition, Inc. will acquire the Company through the merger of a wholly-owned subsidiary of Parent with and into the Company (the merger). Final voting results were as follows: |
|
Number
|
% of Voted
|
% of Outstanding
|
||||||||||
|
Votes For
|
3,271,576
|
99.71
|
%
|
80.75
|
%
|
|||||||
|
Votes Against
|
9,113
|
0.28
|
%
|
0.22
|
%
|
|||||||
|
Abstentions
|
0.01
|
%
|
0.01
|
%
|
|
(2)
|
To approve, by non-binding advisory vote, certain
compensation that may be paid or become payable to the Companys named executive officers in connection with the merger. Final voting results were as follows: |
|
Number
|
% of Voted
|
% of Outstanding
|
||||||||||
|
Votes For
|
3,113,236
|
94.89
|
%
|
76.84
|
%
|
|||||||
|
Votes Against
|
161,571
|
4.92
|
%
|
3.99
|
%
|
|||||||
|
Abstentions
|
6,132
|
0.19
|
%
|
0.15
|
%
|
|
(3)
|
To approve the adjournment or postponement of the Special
Meeting, if necessary or appropriate, including to solicit additional proxies if there are insufficient votes at the time of the meeting to approve the merger agreement. Final voting results were as follows: |
|
Number
|
% of Voted
|
% of Outstanding
|
||||||||||
|
Votes For
|
3,262,276
|
99.43
|
%
|
80.52
|
%
|
|||||||
|
Votes Against
|
13,413
|
0.41
|
%
|
0.33
|
%
|
|||||||
|
Abstentions
|
5,250
|
0.16
|
%
|
0.13
|
%
|
About T Bancshares, Inc. (OTCMKTS:TBNC)
T Bancshares, Inc. serves as the bank holding company for T Bank, N.A., a national association (the Bank). The Bank is a full-service commercial bank offering a range of commercial and consumer banking services to small- to medium-sized businesses, single-family residential and commercial contractors and consumers. The Bank offers a range of deposit services, including demand deposits, regular savings accounts, money market accounts, individual retirement accounts, and certificates of deposit with fixed rates and a range of maturity options. The Bank also offers wealth management and trust services. These services are provided through a range of delivery systems, including automated teller machines, mobile banking and Internet banking. The Bank also offers traditional fiduciary services, such as serving as executor, trustee, agent, administrator or custodian for individuals, non-profit organizations, employee benefit plans and organizations. T Bancshares, Inc. (OTCMKTS:TBNC) Recent Trading Information
T Bancshares, Inc. (OTCMKTS:TBNC) closed its last trading session up +0.03 at 10.25 with 100 shares trading hands.
