Ellington Credit Postpones its Annual Meeting of Shareholders
Ellington Credit Company (NYSE: EARN) has announced the postponement of its 2024 Annual Meeting of Shareholders, originally scheduled for September 26, 2024. The postponement aims to provide additional materials related to the definitive proxy statement filed on August 16, 2024, and allow more time for proxy solicitation. The new date will be determined by the Board of Trustees and announced soon.
The record date remains August 6, 2024. Shareholders who have already voted don't need to take action unless they wish to change their vote. The Board strongly encourages shareholders to vote 'FOR' all proposals in the Proxy Statement. The Proxy Statement is available on the SEC's website, and shareholders are urged to read it and all relevant documents before making voting or investment decisions.
Ellington Credit Company (NYSE: EARN) ha annunciato il rinvio della sua Assemblea Annuale degli Azionisti 2024, inizialmente programmata per il 26 settembre 2024. Il rinvio è volto a fornire materiali aggiuntivi relativi alla dichiarazione di delega definitiva presentata il 16 agosto 2024 e a consentire più tempo per la sollecitazione delle deleghe. La nuova data sarà determinata dal Consiglio di Amministrazione e annunciata a breve.
La data di registrazione rimane il 6 agosto 2024. Gli azionisti che hanno già votato non devono intraprendere azioni, a meno che non desiderino modificare il loro voto. Il Consiglio incoraggia vivamente gli azionisti a votare 'A FAVORE' di tutte le proposte nella Dichiarazione di Delega. La Dichiarazione di Delega è disponibile sul sito della SEC, e si invita gli azionisti a leggerla insieme a tutti i documenti pertinenti prima di prendere decisioni di voto o investimento.
Ellington Credit Company (NYSE: EARN) ha anunciado el aplazamiento de su Junta Anual de Accionistas 2024, originalmente programada para el 26 de septiembre de 2024. El aplazamiento tiene como objetivo proporcionar materiales adicionales relacionados con la declaración de poder definitiva presentada el 16 de agosto de 2024, y permitir más tiempo para la solicitud de poderes. La nueva fecha será determinada por la Junta de Fideicomisarios y anunciada pronto.
La fecha de registro sigue siendo el 6 de agosto de 2024. Los accionistas que ya han votado no necesitan realizar ninguna acción a menos que deseen cambiar su voto. La Junta alienta encarecidamente a los accionistas a votar 'A FAVOR' de todas las propuestas en la Declaración de Poder. La Declaración de Poder está disponible en el sitio web de la SEC, y se insta a los accionistas a leerla junto con todos los documentos relevantes antes de tomar decisiones de voto o inversión.
엘링턴 크레딧 컴퍼니(NYSE: EARN)는 원래 2024년 9월 26일로 예정된 2024년 주주 연례 회의 연기를 발표했습니다. 연기의 목적은 2024년 8월 16일에 제출된 최종 위임장에 대한 추가 자료를 제공하고 위임 요청을 위한 시간을 더 허용하기 위함입니다. 새로운 날짜는 이사회에 의해 결정되며 곧 발표될 예정입니다.
기록일은 2024년 8월 6일로 유지됩니다. 이미 투표한 주주들은 투표를 변경하고 싶지 않는 한 추가적인 조치를 취할 필요가 없습니다. 이사회는 주주들이 위임장에 있는 모든 제안에 대해 '찬성' 투표를 하도록 강력히 권장합니다. 위임장은 SEC의 웹사이트에서 확인할 수 있으며, 주주들은 투표 또는 투자 결정을 내리기 전에 모든 관련 문서를 읽어보도록 권장됩니다.
La Ellington Credit Company (NYSE: EARN) a annoncé le report de sa réunion annuelle d'actionnaires 2024, initialement prévue pour le 26 septembre 2024. Ce report vise à fournir des documents supplémentaires relatifs à la déclaration de pouvoir définitive déposée le 16 août 2024 et à laisser plus de temps pour la sollicitation de pouvoirs. La nouvelle date sera déterminée par le conseil d'administration et annoncée prochainement.
La date d'enregistrement reste le 6 août 2024. Les actionnaires ayant déjà voté n'ont pas besoin de prendre d'autres mesures, sauf s'ils souhaitent modifier leur vote. Le conseil d'administration encourage fortement les actionnaires à voter 'POUR' toutes les propositions dans la déclaration de pouvoir. La déclaration de pouvoir est disponible sur le site de la SEC, et il est conseillé aux actionnaires de la lire ainsi que tous les documents pertinents avant de prendre des décisions de vote ou d'investissement.
Die Ellington Credit Company (NYSE: EARN) hat die Verschiebung ihrer Jahreshauptversammlung 2024 angekündigt, die ursprünglich für den 26. September 2024 geplant war. Die Verschiebung dient dazu, zusätzliche Materialien zur endgültigen Handlungsvollmacht, die am 16. August 2024 eingereicht wurde, bereitzustellen und mehr Zeit für die Einholung von Vollmachten zu ermöglichen. Das neue Datum wird vom Board of Trustees festgelegt und bald bekannt gegeben.
Das Stichtag bleibt der 6. August 2024. Aktionäre, die bereits abgestimmt haben, müssen keine Maßnahmen ergreifen, es sei denn, sie möchten ihre Stimme ändern. Der Vorstand ermutigt die Aktionäre dringend, 'FÜR' alle Vorschläge in der Handlungsvollmacht zu stimmen. Die Handlungsvollmacht ist auf der Website der SEC verfügbar, und es wird den Aktionären geraten, sie und alle relevanten Dokumente zu lesen, bevor sie Abstimmungs- oder Investitionsentscheidungen treffen.
- None.
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The rescheduled date for the Annual Meeting will be determined by the Company’s Board of Trustees (the “Board”) in accordance with the applicable provisions of the Company's Declaration of Trust and will be announced in the near future.
The record date of the Annual Meeting, August 6, 2024 (the “Record Date”), remains unchanged. Shareholders who have already cast their votes do not need to take any action, unless they wish to change or revoke their prior proxy or voting instructions, and their votes will be counted at the postponed Annual Meeting.
The Board strongly encourages all shareholders to follow its recommendation by voting “FOR” all of the proposals included in the Proxy Statement.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
The Proxy Statement was mailed to all shareholders of record as of the close of business on the Record Date that were entitled to receive notice of and vote at the Annual Meeting. In addition, the Proxy Statement is available free of charge at the SEC’s website located at www.sec.gov.
BEFORE MAKING ANY VOTING OR INVESTMENT DECISIONS, SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ALL OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS SUCH DOCUMENTS AND FILINGS CONTAIN IMPORTANT INFORMATION ABOUT THE ANNUAL MEETING AND THE MATTERS TO BE ACTED UPON AT THE ANNUAL MEETING.
About Ellington Credit Company
Ellington Credit Company, formerly known as Ellington Residential Mortgage REIT, was initially formed as a real estate investment trust ("REIT") that invested primarily in residential mortgage-backed securities ("MBS"). On March 29, 2024, the Company’s Board approved a strategic transformation of its investment strategy to focus on corporate collateralized loan obligations (“CLOs”), with an emphasis on mezzanine debt and equity tranches. In connection with this transformation, the Company revoked its election to be taxed as a REIT effective January 1, 2024, and rebranded to Ellington Credit Company. The Company intends, subject to shareholder approval of certain matters (the “Conversion Proposals”), to convert to a closed-end investment company registered under the Investment Company Act of 1940, as amended, which would be treated as a regulated investment company for federal income tax purposes under the Internal Revenue Code of 1986, as amended, and complete its transition from an MBS-focused company to a CLO-focused company later in 2024.
Ellington Credit Company is externally managed and advised by Ellington Credit Company Management LLC, an affiliate of Ellington Management Group, L.L.C. (collectively, “Ellington”).
Important Additional Information and Where to Find It
In connection with the Conversion Proposals and the Annual Meeting, the Company has filed with the SEC a definitive proxy statement on Schedule 14A (the "Proxy Statement"). The Proxy Statement contains important information about the Company, the Conversion Proposals and related matters. This release is for information purposes only and is not an offer to sell any securities and is not soliciting an offer to buy any securities. The information contained in this release does not constitute or form part of any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities, nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever.
This release relates to the Proxy Statement that the Company has filed with the SEC and mailed to shareholders. The information relates to the proposals for which the Company seeks shareholder approval in the Proxy Statement, including the Conversion Proposals (the “Proposals”). The Proxy Statement contains important information about the Company, Ellington, the Proposals and related matters. Shareholders are urged to read carefully and in their entirety all relevant documents filed with the SEC, including the Proxy Statement, as well as any amendments or supplements thereto, because they contain important information about the Company, Ellington, the Proposals and related matters. SHAREHOLDERS ARE ADVISED TO READ THE PROXY STATEMENT (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND OTHER RELEVANT DOCUMENTS THAT ARE FILED OR MAY BE FILED BY THE COMPANY WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, AND THE PROPOSALS. Shareholders will be able to obtain the documents filed with the SEC free of charge from the SEC’s website (www.sec.gov). Copies of the documents filed by the Company with the SEC are also available free of charge on the Company’s website at www.ellingtoncredit.com.
Participants in the Solicitation Relating to the Conversion Proposals
The Company and certain of its respective directors and executive officers and certain other affiliates of the Company may be deemed to be participants in the solicitation of proxies from the common shareholders of the Company in respect of the Conversion Proposals. Information regarding the Company and its trustees and executive officers and their ownership of common stock of the Company can be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on March 12, 2024 and amended on April 12, 2024, and the Proxy Statement. These documents are available free of charge on the SEC’s website and from the Company, using the sources indicated above.
Cautionary Statement Regarding Forward-Looking Statements
This communication may contain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature and can be identified by words such as "anticipate," "estimate," "will," "should," "may," "expect," "project," "believe," "intend," "seek," "plan" and similar expressions or their negative forms, or by references to strategy, plans, or intentions. Forward-looking statements are based on our beliefs, assumptions and expectations of our future operations, business strategies, performance, financial condition, liquidity and prospects, taking into account information currently available to us. These beliefs, assumptions, and expectations are subject to numerous risks and uncertainties and can change as a result of many possible events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations and strategies may vary materially from those expressed or implied in our forward-looking statements. The following factors are examples of those that could cause actual results to vary from those stated or implied by our forward-looking statements: changes in interest rates and the market value of the Company's investments, market volatility, changes in the default rates on corporate loans, the Company's ability to borrow to finance its assets, changes in government regulations affecting the Company's business, the Company's ability to maintain its exclusion from registration under the Investment Company Act of 1940, our ability to pivot our investment strategy to focus on collateralized loan obligations ("CLOs"), a deterioration in the CLO market, our ability to utilize our net operating loss carryforwards, our ability to convert to a closed end fund/RIC, including our ability to obtain shareholder approval of our conversion to a closed end fund/RIC, and other changes in market conditions and economic trends, such as changes to fiscal or monetary policy, heightened inflation, slower growth or recession, and currency fluctuations. Furthermore, as stated above, forward-looking statements are subject to numerous risks and uncertainties, including, among other things, those described under Item 1A of the Company's Annual Report on Form 10-K, which can be accessed through the link to the Company's SEC filings under "For Investors" on the Company's website (at www.ellingtoncredit.com) or at the SEC's website (www.sec.gov). Other risks, uncertainties, and factors that could cause actual results to differ materially from those projected or implied may be described from time to time in reports the Company files with the SEC, including reports on Forms 10-Q, 10-K and 8-K. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240923962522/en/
Investors:
Ellington Credit Company
Investor Relations
(203) 409-3773
info@ellingtoncredit.com
or
Media:
Amanda Shpiner/Grace Cartwright
Gasthalter & Co.
for Ellington Credit Company
(212) 257-4170
Ellington@gasthalter.com
Source: Ellington Credit Company
FAQ
Why did Ellington Credit Company (EARN) postpone its 2024 Annual Meeting of Shareholders?
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