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Friday, January 09, 2015 2:28:23 PM
Midlothian, Virginia, January 9, 2015. Village Bank and Trust Financial Corp. (NASDAQ: VBFC) (“the Company”), today announced that a record date of 5:00 p.m. Eastern Standard Time on January 20, 2015 (the “Record Date”) has been set for its previously announced rights offering (the “Rights Offering”). A registration statement on Form S-1 was initially filed with the Securities and Exchange Commission (the “SEC”) on November 12, 2014 for the Rights Offering (the “Registration Statement”). Subject to the Registration Statement being declared effective by the SEC, the Company will distribute non-transferrable subscription rights to holders of the Company’s common stock as of the Record Date. Shareholders will receive one subscription right for each share of common stock owned as of the Record Date. Each subscription right will entitle the holder to purchase three shares of the Company’s common stock at the subscription price, which has not yet been determined.
Purchases and sales of the Company’s common stock are generally settled three business days after the trade date. As a result, an investor that purchases shares of the Company’s common stock after January 15, 2015 may not be entitled to receive subscription rights in the Rights Offering because the trade may not have settled by the Record Date.
The information in the Registration Statement is not complete and may be changed. The Company’s securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Company’s securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
About Village Bank and Trust Financial Corp.
Village Bank and Trust Financial Corp. was organized under the laws of the Commonwealth of Virginia as a bank holding company whose activities consist of investment in its wholly-owned subsidiary, Village Bank. Village Bank is a full-service Virginia-chartered community bank headquartered in Midlothian, Virginia with deposits insured by the Federal Deposit Insurance Corporation. Village Bank has eleven branch offices. Village Bank and its wholly-owned subsidiary, Village Bank Mortgage Corporation, offer a complete range of financial products and services, including commercial loans, consumer credit, mortgage lending, checking and savings accounts, certificates of deposit, and 24-hour banking.
http://www.sec.gov/Archives/edgar/data/1290476/000114420415001536/v398482_ex99-1.htm
"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
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