Associated Capital Group’s Board Approves a $0.25 per share Contribution under its Shareholder-Designated Charitable Contri...
08 Noviembre 2018 - 1:00PM
Business Wire
Associated Capital Group, Inc. (NYSE: AC) is pleased to announce
that its Board of Directors has approved a 2018 allocation to its
Shareholder-Designated Charitable Contribution Program for all
registered Class A and Class B shareholders. Each registered
shareholder can designate a charity to which the company will make
a donation of $0.25 per share on behalf of the shareholder.
Associated Capital Group follows in the footsteps of its affiliate,
GAMCO Investors, Inc. which created its Shareholder-Designated
Charitable Contribution Program in April 2013. Over its first two
years as a public company, AC donated approximately $10 million to
over 100 different charities that address a broad range of local,
national, and international concerns.
At AC, we believe charitable giving is a cornerstone of society
and an obligation for those with the means to make a difference in
the world. As an organization, AC will have no control over these
donations, but we are happy to make them on behalf of our
shareholders in furtherance to our commitment to supporting our
communities.
Shares held in nominee or street name will not be eligible to
participate. Shareholders will have until November 30, 2018 to
register shares in their own names to participate in the program.
Shareholders that wish to register their shares to participate in
the program should contact their broker or custodian to make the
necessary arrangements.
We currently plan to solicit shareholder designations in
December with payments to the charities following in early 2019.
Only charities that are recognized 501(c)(3) organizations will be
qualified to receive donations under the program. A list of
eligible charities is available at Guidestar.org
(https://www.guidestar.org/search).
Based on the approximately 19.5 million shares currently
registered in shareholders’ names, the total contribution AC is
expected to make will be approximately $5 million. This amount may
increase if shares held in nominee or street name are subsequently
registered in the shareholders’ names.
About Associated Capital Group, Inc.
AC operates as a diversified financial services business
providing asset management emphasizing event-driven value and
merger arbitrage-oriented alternative investment portfolios for
institutions and high net worth investors; institutional research
services; and broker-dealer and underwriting services. AC also
derives investment income/(loss) from proprietary trading of assets
awaiting deployment in its operating businesses.
Forward-looking statements
Forward-looking statements involve a number of known and unknown
risks, uncertainties and other important factors, some of which are
listed below, that are difficult to predict and could cause actual
results and outcomes to differ materially from any future results
or outcomes expressed or implied by such forward-looking
statements. Some of the factors that could cause our actual results
to differ from our expectations or beliefs include a decline in the
securities markets that adversely affect our assets under
management, negative performance of our products, the failure to
perform as required under our investment management agreements, and
a general downturn in the economy that negatively impacts our
operations. We also direct your attention to the more specific
discussions of these and other risks, uncertainties and other
important factors contained in the prospectus/offer to exchange and
other public filings. Other factors that could cause our actual
results to differ may emerge from time to time, and it is not
possible for us to predict all of them. We do not undertake to
update publicly any forward-looking statements if we subsequently
learn that we are unlikely to achieve our expectations whether as a
result of new information, future developments or otherwise, except
as may be required by law.
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Associated Capital Group, Inc.Douglas R. Jamieson,
203-629-2726President & CEOAssociated-Capital-Group.com
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