Altisource Residential (RESI), RESI Shareholders Group Enter Agreement; Will Add Independent Directors
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Altisource Residential Corporation Announces Agreement With RESI Shareholders Group
May 11, 2016 7:30 AM EDTCHRISTIANSTED, U.S. Virgin Islands, May 11, 2016 (GLOBE NEWSWIRE) -- Altisource Residential Corporation (Residential or the Company) (NYSE: RESI) today announced that it has entered into an agreement with RESI Shareholders Group, a shareholder group with ownership of approximately 2.5% of the Companys outstanding shares. Under the terms of the agreement, the Company has agreed to seek to add two new independent directors and RESI Shareholders Group has agreed to withdraw its nomination of certain individuals for election to the Board at the Companys 2016 Annual Meeting and to abide by customary standstill provisions. The Board is actively... More
