MGIC Clarifies Special Shareholders Meeting's Results
30 Giugno 2008 - 11:39PM
PR Newswire (US)
MILWAUKEE, June 30 /PRNewswire-FirstCall/ -- While MGIC Investment
Corporation does not normally comment on market rumors, the Company
understands there have been reports in the media that it has plans
to offer additional shares. As previously announced, at a special
meeting of shareholders on June 27, 2008, the Company's
shareholders approved an amendment to the charter increasing the
number of authorized shares of Common Stock by 160 million shares.
The Company's April 29, 2008 press release announcing the record
date for this meeting said that an increase in the number of
authorized shares would be on the agenda for the special meeting.
That press release also said the Company had no plans to issue
shares of Common Stock other than for awards under its stock
incentive plan and noted that the Company had outstanding Junior
Subordinated Convertible Debentures convertible into Common Stock.
The proxy statement for the special meeting, noting that the
Company had shares reserved for issuance on conversion of its
Junior Subordinated Convertible Debentures, said, "At the date of
mailing of this proxy statement, we did not have any plans to issue
any additional shares of Common stock, other than the possible
issuance of reserved shares under our 2002 Stock Incentive Plan."
The proxy statement was mailed on May 29, 2008. The Company's
plans, as communicated in our April 29 press release and May 29
proxy statement, have not changed. At June 30, 2008, we still have
no plans to issue any additional shares of Common stock, other than
as referred to above. The Company is not undertaking any obligation
to update the information in this press release. Interested parties
should not rely on such information as being current at time other
the time at which this press release was issued. About MGIC MGIC
(http://www.mgic.com/), the principal subsidiary of MGIC Investment
Corporation, is the nation's leading provider of private mortgage
insurance coverage with $221.4 billion primary insurance in force
covering 1.5 million mortgages as of March 31, 2008. MGIC serves
over 3,300 lenders with locations across the country and in Puerto
Rico, Guam and Australia helping families achieve homeownership
sooner by making affordable low-down-payment mortgages a reality.
DATASOURCE: MGIC Investment Corporation CONTACT: Investors, Michael
J. Zimmerman, +1-414-347-6596, , or Media, Katie Monfre,
+1-414-347-2650, , both of MGIC Investment Corporation Web site:
http://www.mgic.com/
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