Boardwalk Bancorp, Inc. Announces Date of Special Shareholders' Meeting
27 Novembre 2007 - 9:00PM
Marketwired
LINWOOD, NJ will hold a special meeting of shareholders on
Friday, January 4, 2008, at 10:00 a.m., at the Wildwood Golf and
Country Club, 1170 Golf Club Road, Cape May Court House, New
Jersey, to vote on a proposal to approve and adopt an agreement and
plan of reorganization under which Boardwalk Bancorp would merge
with and into Cape Bancorp and Boardwalk Bank would merge with and
into Cape Savings Bank. Shareholders of record on November 6, 2007
will be eligible to vote at the Boardwalk Bancorp special meeting.
Boardwalk Bancorp commenced the mailing of the proxy
statement-prospectus and other information for the meeting on
November 27, 2007. In the merger, each Boardwalk shareholder may
elect to exchange each share of Boardwalk common stock for either
2.3 shares of Cape Bancorp common stock, $23.00 in cash or a
combination of stock and cash in the merger, subject to the
election and proration procedures in the merger agreement. In early
December, Boardwalk shareholders will receive materials for this
election.
In connection with the merger, the Board of Directors of Cape
Savings Bank has adopted a plan of conversion to convert from the
mutual to stock form of organization. Cape Bancorp, Inc., a new
Maryland corporation, has been organized to facilitate the
conversion and offer shares of common stock to depositors of Cape
Savings Bank and others in a subscription and community
offering.
About Boardwalk Bancorp
Boardwalk Bancorp is the parent company of Boardwalk Bank, a New
Jersey state chartered commercial bank, headquartered in Linwood,
New Jersey. Boardwalk Bank was organized in 1999 and subsequently
formed Boardwalk Bancorp in 2006. Boardwalk Bancorp provides high
quality banking services to small and mid-sized businesses and
professionals through its seven offices located in Cape May and
Atlantic counties, New Jersey. As of September 30, 2007, Boardwalk
Bancorp had total assets of $445.3 million, total deposits of
$311.2 million and shareholders' equity of $49.9 million.
Additional information about Boardwalk Bancorp is available on its
website, www.boardwalkbank.com.
Forward-Looking Statements
This news release contains certain forward-looking statements.
Forward-looking statements can be identified by the fact that they
do not relate strictly to historical or current facts. They often
include words like "believe," "expect," "anticipate," "intend,"
"plan," "estimate" or words of similar meaning, or future or
conditional verbs such as "will," "would," "should," "could" or
"may." Forward-looking statements, by their nature, are subject to
risks and uncertainties. A number of factors could cause actual
conditions, events or results to differ significantly from those
described in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Boardwalk
Bancorp, Inc. and Boardwalk Bank do not undertake to update
forward-looking statements to reflect circumstances or events that
occur after the date the forward-looking statements are made or to
reflect the occurrence of unanticipated events.
More Information About the Merger and Where to Find It
The proposed merger will be submitted to Boardwalk Bancorp's
shareholders for their vote. Cape Bancorp filed a registration
statement with the Securities and Exchange Commission (SEC), which
included a proxy statement-prospectus describing the merger.
Boardwalk Bancorp will mail the definitive proxy
statement-prospectus to its shareholders of record on November 6,
2007. Shareholders of Boardwalk Bancorp and other investors are
urged to read the registration statement and proxy
statement-prospectus (and any amendments or supplements to those
documents, including the definitive proxy statement-prospectus)
when they become available, as well as other relevant documents
filed with the SEC, because they will contain important
information. The registration statement and preliminary proxy
statement-prospectus are, and the definitive proxy
statement-prospectus will be, available free on the SEC's website
(http://www.sec.gov).
In addition, copies of the proxy statement/prospectus and the
SEC filings that will be incorporated by reference in the proxy
statement/prospectus, if any, can be obtained, without charge, by
directing a request to Boardwalk Bancorp, Inc., 201 Shore Road,
Linwood, New Jersey 08221, Attn: Joan B. Ditmars, Secretary (Tel:
(609) 601-0600).
Boardwalk Bancorp and their respective directors and executive
officers may be deemed to be participants in the solicitation of
proxies from Boardwalk Bancorp shareholders in connection with the
proposed merger. Information about the directors and executive
officers of Boardwalk Bancorp and their ownership of Boardwalk
Bancorp common stock is set forth in the definitive proxy
statement-prospectus. The proxy statement-prospectus for the
proposed merger will provide more information about participants in
the solicitation of proxies from Boardwalk Bancorp
shareholders.
CONTACT: Michael D. Devlin Chairman of the Board, President and
Chief Executive Officer 609-601-0600 Boardwalk Bancorp, Inc. 201
Shore Road Linwood, New Jersey 08221
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