Tri-Valley Bank (fka TRVB)

[BigCat]

Tri-Valley Bank Responds to Shareholder’s Letter Offering to Purchase Shares

December 21, 2015 04:15 PM Eastern Standard Time
SAN RAMON, Calif.--(BUSINESS WIRE)--Tri-Valley Bank (OTC: TRVB) (the “Bank”) today announced that the Bank has become aware that Gregory A. Solsrud, a Tri-Valley Bank shareholder who owns approximately 9.9% of the Bank’s outstanding shares, has sent a letter to the Bank’s shareholders dated December 7, 2015 in which he offers to purchase shares of the Bank’s common stock for $0.55 per share in cash. Mr. Solsrud has advised the Bank’s Board of Directors that he has sent the letter to all of the Bank’s shareholders of record as of October 31, 2015. Mr. Solsrud’s letter does not state the maximum or minimum number of shares that he is willing to purchase, but Mr. Solsrud has advised the Bank’s Board of Directors that he is willing to purchase a number of shares that would result in him owning 19.9% of the Bank’s outstanding common shares. Mr. Solsrud currently holds 3,847,222 shares or approximately 9.9% of the Bank’s outstanding shares of common stock, making him the Bank’s second-largest shareholder...


http://www.businesswire.com/news/home/20151221006071/en/Tri-Valley-Bank-Responds-Shareholder’s-Letter-Offering-Purchase