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Cadence Bank Delays Special Shareholder Meeting

In an important update, Cadence Bank (NYSE: CADE) has announced the postponement of its special meeting of shareholders, originally convened on December 30, 2024. The bank has rescheduled this critical gathering to March 26, 2025, at 8:45 a.m. Central Time. This decision, revealed on January 27, 2025, came as the bank seeks additional time to secure proxies from preferred shareholders for a pivotal proposal related to stock repurchases.

Proposal Details

The proposal under consideration, known as Proposal 2, is essential for empowering the Board of Directors to engage in stock repurchases in accordance with Regulatory H guidelines. The plan aims to enhance the bank's financial standing while addressing shareholder value. The comprehensive details of this proposal have been outlined in the proxy statement that was shared with shareholders on November 19, 2024.

During the original meeting convened on December 30, shareholders approved Proposals 1, 3, and 4, which were crucial for the bank's ongoing operations and strategy.

Valid Proxy Information

Importantly, the record date for eligible shareholders to participate in the upcoming meeting will remain as the close of business on November 8, 2024. This means that any valid proxies submitted by preferred shareholders ahead of the adjourned meeting will still be valid for the reconvened meeting. Cadence Bank encourages those who have yet to vote on Proposal 2 to reach out to Okapi Partners, the bank's proxy solicitor, for assistance. They can be contacted via email at [email protected] or through their toll-free number (855) 208-8902.

Virtual Attendance

The upcoming reconvened meeting will be hosted virtually, allowing preferred shareholders to participate from their homes or offices. Interested attendees will be able to access the meeting by visiting the designated web address meetnow.global/MLVC22S and entering a unique control number provided in the Notice of Internet Availability of Proxy Materials. Besides, shareholders holding shares through intermediaries must follow specific registration instructions laid out in the notice.

About Cadence Bank

Cadence Bank is recognized as a prominent regional banking institution, boasting around $50 billion in assets and providing services from over 350 branch locations across the Southern United States and Texas. The bank specializes in offering a wide range of banking and financial solutions, including consumer banking, commercial services, financing options, wealth management, and more.

Established to serve both individual customers and businesses, Cadence Bank continues to demonstrate its commitment to fostering inclusive financial growth through innovative practices and community-oriented services. For further information on the bank's offerings, stakeholders are encouraged to visit their website at www.cadencebank.com.

Importance of Shareholder Participation

The adjournment of this special meeting highlights the bank's effort to engage shareholders actively in its financial strategies. It underlines the importance of collective decision-making for the bank's future, and shareholders are urged to contribute their voices during this crucial time. By participating in discussions about proposal initiatives and making informed decisions, shareholders can hope to guide the direction of the bank toward positive growth and profitability in the coming years. Cadence Bank continues to emphasize transparency and shareholder rights, ensuring all voices are heard as part of its governance.

Conclusion

As the new date for the reconvened special meeting approaches, all eligible parties should prepare to participate and ensure their opinions on important proposals, such as the potential stock repurchase initiative, are accounted for. Cadence Bank seeks to empower its shareholders and foster an atmosphere of collaboration that ultimately benefits all stakeholders. It looks forward to a robust turnout and productive discussions at the upcoming meeting.