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Thursday, July 29, 2021
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CIB Marine Bancshares, Inc.

           2021 Annual Shareholder Meeting

 

 

September 24, 2021

Annual Meeting of Common Shareholders: 9:30am (local)

Special Meeting of Preferred Shareholders: 11:30am (local)

Sheraton Milwaukee Brookfield Hotel

375 S. Moorland Road

Brookfield, Wisconsin

 

CIB Marine’s Annual Meeting of Shareholders adjourned to July 29, 2021, has been cancelled and rescheduled for September 24, 2021.  For additional details, please see the July 29th shareholder letter below.

 

On July 26th, CIB Marine announced an agreement with Hildene Capital Management, LLC (and certain of their affiliated investment funds) (“Hildene”) on a plan for the repurchase and retirement of all preferred stock over the next four years, including an initial repurchase in 2021 of $18 million for roughly half of the currently outstanding preferred stock, at a price of $825 per share.

 

Implementation of the plan will require amendment of CIB Marine’s Articles of Incorporation.  Accordingly, CIB Marine’s proposed Second Amended and Restated Articles of Incorporation will be submitted to all classes of common and preferred shareholders for a vote at separate meetings of such shareholders, on September 24, 2021.  Proxy Statements will be mailed to holders of all classes of CIB Marine common and preferred stock as of the meetings’ record date in the coming weeks.

 

Please continue to monitor this site for any updates regarding the 2021 Annual Meeting of Common Shareholders of CIB Marine Bancshares, Inc.

 

Meeting Materials

Date Posted
Document Description
July 29, 2021 Shareholder Letter
July 26, 2021 Press Release
May 19, 2021 May 19, 2021 Meeting - Presentation Slides
May 17, 2021 Press Release
April 27, 2021 Press Release
April 27, 2021 Shareholder Letter

 

 

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