Grupo Resilient Issues Clarification on Forward Stock Split

Grupo Resilient Issues Clarification on Forward Stock Split

PR Newswire

DALLAS, August 11, 2017 /PRNewswire/ —

Grupo Resilient International, Inc. fka Paradise Ridge Hydrocarbons, Inc. (OTC: GRUI) today announced clarification on its recent dividend/forward stock split. The stock split pay date was August 3, 2017. All dividend/split shares were delivered to the Depository Trust Company (DTC) on August 3, 2017. DTC is in the process of distributing the shares to brokers and/or shareholders of record. While this is an orderly process that is carefully managed and balanced, it does not happen overnight.

All brokers and/or shareholders of record will eventually receive instructions from DTC to claim their respective shares, which instructions will include a DRS Book Entry form to be completed. If you are a shareholder of record and have received your DRS Book Entry form, and want the shares issued in a physical certificate please follow the steps below:

  1. Check the appropriate box on the DRS Book Entry form. If you have any questions about filling out the form, please contact Transfer Online.
  2. Make a check payable to Transfer Online for $60
  3. Send form and check to:

Transfer Online, Inc.

512 SE Salmon St.

Portland OR, 97214

About Grupo Resilient International, Inc.: 

Grupo Resilient International, Inc. is a diversified international holding company headquartered in Addison, Texas, with subsidiaries focusing on Real Estate, Infrastructure, Energy, Data Services, Transportation, and Health and Wellness.

Forward Looking Statements: 

This press release contains forward-looking statements that involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements because of certain factors, including those set forth in the Company’s filings with the Securities and Exchange Commission.

For more information:
Gordon Johnson
CEO – Grupo Resilient International, Inc.
Tel: +1-203-303-4699
email: corporate@paradiseridgeinc.com

SOURCE Grupo Resilient International, Inc. fka Paradise Ridge Hydrocarbons, Inc.

Blue Ridge Bankshares, Inc. Releases 2017 2nd Quarter Results

Blue Ridge Bankshares, Inc. Releases 2017 2nd Quarter Results

Company Also Announces 3:2 Common Stock Split

PR Newswire

LURAY, Va., July 28, 2017 /PRNewswire/ — Blue Ridge Bankshares, Inc. (OTC Pink: BRBS), parent company of Blue Ridge Bank, N.A., announced today its unaudited financial results for the second quarter ended June 30, 2017.  The Company reported net income of $1,902,860 for the first six months of 2017, or $1.04 per common share, compared to 2016 net income of $835,817, or $0.60 per common share, for the same period.  The Company declared a dividend of $0.12 during the second quarter of 2017, which is an increase of 2.13% compared to the 2016 second quarter dividend of $0.1175.  The dividend yield is 2.23% based on the July 28, 2017 share price.

The Company experienced net income growth of 127.6% and asset growth 40.7% since the second quarter of 2016, of which approximately $114 million was due to the acquisition of River Bancorp, Inc.  The Company also experienced meaningful growth in total deposits, increasing 48.8% since the first quarter of 2016, of which approximately $97 million was related to the acquisition.


Financial Highlights (Unaudited)


Three Months Ended


Six Months Ended


6/30/2017


6/30/2016


6/30/2017


6/30/2016



(Dollars in thousands, except per share data)

Net income

$

1,270

311

$

1,903

836

Net income available to common stockholders

$

1,270

311

$

1,903

836

Earnings per Common Share

$

0.69

0.23

$

1.04

0.60

Earnings per Common Share

$

0.69

0.43

$

1.04

0.80

    (Less One-Time Merger Expenses)

Dividend per Common Share

$

0.1200

0.1175

$

0.1200

0.1175


Key Ratios

Total stockholders’ equity to assets

8.77%

8.76%

8.77%

8.76%

Common stockholders’ equity to assets

8.77%

8.76%

8.77%

8.76%

Net Interest Margin (bank level)

3.82%

3.69%

4.02%

3.71%

Return on Average Assets (annualized)

1.48%

0.47%

1.11%

0.63%

Return on Average Equity (annualized)

16.85%

4.75%

12.63%

6.39%


Balance At


6/30/2017


6/30/2016

Total assets

$

402,243

285,350

Net loans held for investment

$

300,222

207,844

Deposits

$

331,830

223,063

Total stockholders’ equity

$

35,295

24,990

Common stockholders’ equity

$

35,295

24,990

Book value per common share

$

19.34

17.83

Tangible book value per common share

$

17.80

17.57

Number of common stock shares outstanding

1,824,757

1,401,511

“We are pleased to report a strong second quarter as we continue to build on the success of the integration of River Bancorp, Inc.  The hard work of everyone on the Blue Ridge team in both the commercial and mortgage banking divisions helped drive us to an annualized ROA of 1.48% for the quarter,” stated President and Chief Executive Officer Brian K. Plum. “We did experience an uptick in our nonperforming assets and over 90-day past due loans in the 2nd quarter, which was almost entirely attributable to two unrelated loans that are well-collateralized and are being actively managed.  We do not anticipate significant losses from these two relationships and are confident their resolutions will occur within the next several quarters.” 

Plum continued, “Given the solid performance of our Company and our confidence in future growth, the Board of Directors approved a 3-for-2 common stock share split for shareholders of record as of August 4, 2017 and payable as of August 11, 2017.  We recognize the importance of working hard to improve value and liquidity for our shareholders, and we are appreciative of the confidence our shareholders place in us.  This share split is reflective of that appreciation.” 

The Company’s shareholders will be receiving more information from Computershare, the Company’s transfer agent, once the share split occurs.

About Blue Ridge Bankshares, Inc.
Blue Ridge Bankshares, Inc. is a single-bank holding company headquartered in Luray, VA. Chartered in 1893 as the Page Valley Bank of Virginia, today Blue Ridge Bank, N.A. has additional branches in Charlottesville, Drakes Branch, Harrisonburg, Martinsville, McGaheysville, Shenandoah, Stanleytown, and Stuart. The Bank also has mortgage operations in Virginia and North Carolina. Celebrating 124 years as a locally owned, independent community bank, Blue Ridge Bank, N.A. provides a wide range of financial services.  Visit www.mybrb.com for more information.

Forward-Looking Statements
This press release may contain “forward-looking statements” as defined by federal securities laws, which may involve significant risks and uncertainties. These statements address issues that involve risks, uncertainties, estimates and assumptions made by management, and actual results could differ materially from the results contemplated by these forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects include, but are not limited to, changes in interest rates, general economic conditions and legislative and regulatory policies. Readers should consider these risks and uncertainties in evaluating forward-looking statements and should not place undue reliance on such statements. We undertake no obligation to update these statements following the date of this news release.

 


BLUE RIDGE BANKSHARES, INC.


CONSOLIDATED BALANCE SHEETS


(Unaudited)


(Unaudited)


June 30,


June 30,


ASSETS


2017


2016

Cash and due from banks

$

18,067,240

$

9,440,187

Federal funds sold

1,921,000

1,575,000

Investment securities

40,508,410

37,640,097

Loans held for sale

24,587,718

17,314,624

Loans held for investment

302,534,451

210,272,072

Allowance for loan losses 

(2,312,776)

(2,427,924)

Net Loans Held for Investment

300,221,675

207,844,148

Bank premises and equipment, net 

2,368,251

2,102,263

Bank owned life insurance

4,573,119

4,457,229

Goodwill

1,707,284

366,300

Other assets

8,287,851

4,609,871

Total Assets

$

402,242,548

$

285,349,719


LIABILITIES

Deposits

$

331,830,495

$

223,063,305

Other borrowed funds

24,118,756

26,701,819

Subordinated debt, net of issuance costs

9,715,730

9,681,849

Other liabilities

1,282,880

912,565

Total liabilities

366,947,861

260,359,538


STOCKHOLDERS’ EQUITY

Common stock and surplus

16,171,958

6,756,464

Retained earnings

19,131,634

18,192,891

Accumulated other comprehensive income

(8,905)

40,826

  Total Stockholders’ Equity

35,294,687

24,990,181

Total Liabilities and Stockholders’ Equity

$

402,242,548

$

285,349,719

 

 


BLUE RIDGE BANKSHARES, INC.


CONSOLIDATED INCOME STATEMENTS


(Unaudited)


(Unaudited)


Six Months


Six Months


Ended


Ended


June 30, 2017


June 30, 2016

Interest Income

$

9,053,782

$

5,881,688

Interest Expense

1,905,490

1,414,984

Net Interest Income

7,148,292

4,466,704

Provision For Loan Losses

355,000

200,000

Net Interest Income after Provision for Loan Losses

6,793,292

4,266,704

Other Income

3,912,452

517,310

Other Expenses

7,928,565

3,628,705

Income Before Income Taxes

2,777,179

1,155,309

Income Tax Expense

874,319

319,492

Net Income

1,902,860

835,817

Net Income Available to Common Stockholders

$

1,902,860

$

835,817

Earnings per Share

$

1.04

$

0.60

Weighted Average Shares Outstanding

1,824,757

1,401,511

 

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SOURCE Blue Ridge Bankshares, Inc.

Hyperdynamics Reminds Shareholders to Vote their Proxies on Reverse Stock Split Proposal

Hyperdynamics Reminds Shareholders to Vote their Proxies on Reverse Stock Split Proposal

Voting Continues through July 26

PR Newswire

HOUSTON, July 18, 2017 /PRNewswire/ – Hyperdynamics Corporation (OTCQX: HDYN) (“the Company”) reminds owners of its Common Stock to submit their vote on a Company proposal that would authorize its Board of Directors at its discretion to implement a reverse stock split. Proxy Statements and Consent Forms have been mailed and should now be available for all shareholders to review. Votes must be received by July 26.

Shareholders of record as of July 7, 2017 are entitled to vote. Shareholders may vote online, by telephone, fax or by return email. Visit the Investor Relations section of Hyperdynamics’ website at www.hyperdynamics.com for instructions on how to vote using each method.

The proposal would amend Hyperdynamics’ Certificate of Incorporation to allow for a reverse stock split at a ratio within a range of one-for-two and one-for-six at the discretion of the Board. 

As described in the Company’s Proxy Statement filed with the U.S. Securities and Exchange Commission on July 11, 2017, the purpose of the proposal is to enable Hyperdynamics to meet the required standards to list its Common Stock on a national securities exchange and would only be used if the required standards are not met on its own accord. Our Common Stock is currently traded on the OTC Markets OTCQX marketplace, which is a relatively thinly traded market and lacks the liquidity than may be provided by a stock exchange such as The Nasdaq Capital Market.

In order to list our Common Stock on the Nasdaq Capital Market, among other requirements, our Common Stock must maintain a minimum closing bid price of $4.00. Our Board concluded that the liquidity and marketability of our Common Stock may be adversely affected if it is not quoted on a national securities exchange, as investors can find it more difficult to dispose of or to obtain accurate quotations as to the market value of our Common Stock while traded on the OTCQX marketplace.

About Hyperdynamics

Hyperdynamics is an emerging independent oil and gas exploration company that is exploring for oil and gas offshore the Republic of Guinea in West Africa. To find out more, visit our website at www.hyperdynamics.com.

Forward Looking Statements

This News Release contains “forward-looking statements” within the meaning of Section 27 A of the Securities Act of 1933, as amended, and Section 21 E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements concerning plans, objectives, goals, strategies, expectations, future events or performance and underlying assumptions and other statements which are other than statements of historical facts. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” ” will,” “expect,” “plan,” “project,” “anticipate,” “estimate,” “believe,” or ” think.” Forward-looking statements involve risks and uncertainties which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. We assume no duty to update or revise our forward-looking statements based on changes in plans or expectations or otherwise.

Contacts:

Ray Leonard
President and Chief Executive Officer
713-353-9445

Anne Pearson / Jack Lascar
Dennard-Lascar Associates
713-529-6600

View original content:http://www.prnewswire.com/news-releases/hyperdynamics-reminds-shareholders-to-vote-their-proxies-on-reverse-stock-split-proposal-300489273.html

SOURCE Hyperdynamics