Do shareholders have the right to dissent from the holding company reorganization?
Yes. Pennsylvania law provides shareholders of First Priority Bank with the right to dissent from the holding company reorganization, and to demand and receive cash for the “fair value” of their shares of stock and warrants instead of receiving holding company common stock and warrants in the holding company reorganization.
Related Questions
- Did former common shareholders of Comdisco, Inc. receive common shares of Comdisco Holding Company in exchange for their old common shares?
- Did the reorganization as a mutual holding company change the terms of existing policies or annuity contracts?
- Why is the board proposing the holding company reorganization?
