Bancorp Rhode Island asks shareholders to wait before voting on new moves by PL Capital

New York, Jan. 30 - Bancorp Rhode Island, Inc. asked shareholders to take no immediate action on shareholder proposals from PL Capital, LLC.

The Providence, R.I.-based financial institution said it has been notified by Richard J. Lashley and John W. Palmer, principals of PL Capital, that they intend to file a proxy statement with the Securities and Exchange Commission including several shareholder proposals.

"We intend to evaluate any such proposals and determine whether or not they are in the best interests of our shareholders," the bank said in a news release.

Bancorp Rhode Island noted that PL Capital has waged two unsuccessful proxy contests in the past two years.

The company said it "strongly urges" shareholders to take no action until they have received definitive proxy materials from the company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.