The PMI Group, Inc. Annual Meeting to be Held in Virtual Format Only

Rhea-AI Summary

The PMI Group, Inc. (OTC: PMIR) has announced a change in the format of its 2021 Annual Meeting of Shareholders due to the COVID-19 pandemic and the Delta Variant. The meeting is scheduled for September 13, 2021, at 11:00 a.m. ET and will be conducted virtually. Shareholders as of August 6, 2021 can participate, requiring prior proxy submission. The company aims to resume in-person meetings in 2022. PMI continues to explore strategic alternatives to maximize shareholder value, including asset sales and various financing options.

Positive

• The company is exploring strategic alternatives to maximize shareholder value.
• Virtual meeting format allows broader participation amid pandemic restrictions.

Negative

• The shift to a virtual meeting may limit personal interaction and engagement.
• Continued discussions on asset sales could indicate financial instability.

NEW YORK--(BUSINESS WIRE)-- The PMI Group, Inc. (OTC: PMIR) announced today that due to the public health impact of the COVID-19 pandemic, the recent rise of the related Delta Variant and to support the health and well-being of its personnel and shareholders, the location of its 2021 Annual Meeting of Shareholders has been changed. As previously announced, the Annual Meeting will be held on Monday, September 13, 2021 at 11:00 a.m., Eastern Time. The Annual Meeting will be held in a virtual meeting format only at https://web.lumiagm.com/258158613. Shareholders will not be able to attend the Annual Meeting physically. We expect to resume in-person annual meetings beginning with our 2022 Annual Meeting of Shareholders.

A person is entitled to participate in the Annual Meeting if he or she was a shareholder as of the close of business on August 6, 2021, the record date, or holds a legal proxy for the meeting provided by your bank, broker, or nominee. The proxy card included with the proxy materials previously distributed will not be updated to reflect the change in location and may continue to be used to vote shares held by a shareholder in connection with the Annual Meeting.

Whether or not a shareholder plans to attend the Annual Meeting, all shareholders are urged to vote and submit their proxy in advance of the meeting by one of the methods described in the proxy materials for the Annual Meeting.

Instructions to Registered Owners of Shares

If your shares are registered in your name, then you should have received a proxy card and voting instructions with proxy materials from American Stock Transfer & Trust Company LLC (“AST”). If you wish to attend the Annual Meeting, go to https://web.lumiagm.com/258158613 and provide the control number found on your notice that you previously received. The password for the meeting is pmi2021. You may submit written questions and vote your shares during the Annual Meeting by following the instructions available on the meeting website during the meeting.

Instructions to Beneficial Owners of Shares Registered in the Name of a Broker or Bank

If your shares are registered in the name of your broker, bank or other agent, you are the “beneficial owner” of those shares and should have received a proxy card and voting instructions with proxy materials from that organization rather than directly from AST.

If you wish to attend the Annual Meeting, you must first obtain a valid legal proxy from your broker, bank or other agent and then register in advance to attend the Annual Meeting. Follow the instructions from your broker, bank or other agent included with the proxy materials, or contact your broker, bank or other agent to request a legal proxy form.

After obtaining a valid legal proxy from your broker, bank or other agent, to then register to attend the Annual Meeting you must submit proof of your legal proxy reflecting the number of your shares along with your name and email address to AST. Requests for registration should be directed to proxy@astfinancial.com or to facsimile number 718-765-8730. Written requests can be mailed to:

American Stock Transfer & Trust Company LLC
Attn: Proxy Tabulation Department
6201 15th Avenue
Brooklyn, NY 11219

Requests for registration must be labeled as “Legal Proxy” and be received no later than 5:00 p.m., Eastern Time, on Tuesday September 7, 2021.

You will receive a confirmation of your registration by email after we receive your registration materials. To attend the Annual Meeting, go to https://web.lumiagm.com/258158613 and provide the control number you received from AST. The password for the meeting is pmi2021. You may submit written questions and vote your shares during the Annual Meeting by following the instructions available on the meeting website during the meeting.

Help and technical support for accessing and participating in the virtual meeting are available at https://go.lumiglobal.com/faq. You may begin to log into the meeting website at 10:30 a.m., Eastern Time.

About The PMI Group, Inc.

In 2013, The PMI Group, Inc. (“PMI”) emerged from Bankruptcy pursuant to the First Amended Plan of Reorganization of the PMI Group, Inc. under Chapter 11 of the United States Bankruptcy Code. Since emergence, PMI has sought to identify and execute strategic alternatives intended to maximize shareholder value. In connection with these efforts, PMI is pursuing and exploring a number of options, including, among others, discussions with respect to the sale or financing of PMI’s assets and future operations, other potential avenues to raise additional capital including debt, preferred stock or common stock, as well as potential corporate transactions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210902005822/en/

Charles Jacobson (Interim CEO)

610-842-8352

cjacobson@pmigrp.net

Source: The PMI Group, Inc.

FAQ

What is the new date for The PMI Group's Annual Meeting of Shareholders?

The Annual Meeting of Shareholders is scheduled for September 13, 2021.

Why was the meeting format changed for The PMI Group's Annual Meeting?

The meeting format was changed due to the public health impact of the COVID-19 pandemic and the rise of the Delta Variant.

How can shareholders participate in The PMI Group's Annual Meeting?

Shareholders can participate virtually if they were shareholders as of August 6, 2021, and have submitted their proxy in advance.

What is the purpose of The PMI Group's exploration of strategic alternatives?

The company is exploring strategic alternatives to maximize shareholder value, including asset sales and financing options.