Business & Finance
Business and Finance
Business and Finance
Fri, December 12, 2008
Thu, December 11, 2008 Bimini Capital Management Schedules Conference Calls for Investors in PreTSL XX and PreTSL XXI
VERO BEACH, Fla.--([ BUSINESS WIRE ])--Bimini Capital Management, Inc. (OTCBB: BMNM) ("Bimini Capital" or the "Company"), a real estate investment trust ("REIT"), today announced that it has scheduled two conference calls for registered noteholders of Preferred Term Securities XX, Ltd. ("PreTSL XX") and Preferred Term Securities XXI, Ltd. ("PreTSL XXI"). The first conference call will be held on Thursday, December 18, 2008, at 10:00 a.m. Eastern Time. The second conference call will be held on Thursday, January 8, 2009, at 10:00 a.m. Eastern Time.
The format of the December 18, 2008 call is expected to be as follows: the Company's management will first provide an update on the Company's financial position and will review the Company's third quarter 2008 financial results, following which, the call will be opened to registered noteholders of PreTSL XX and PreTSL XXI to discuss, to the extent such noteholders desire to do so, the possible formation of an informal working group that could facilitate discussions among registered noteholders of PreTSL XX and PreTSL XXI. Such discussions may include the development and consideration of restructuring alternatives for the Company's junior subordinated debentures held by Bimini Capital Trust II, the Fixed/Floating Rate Capital Securities of which are held by PreTSL XX and PreTSL XXI.
Investors in PreTSL XX and PreTSL XXI are strongly encouraged to participate in these conference calls. Interested persons may access each call by dialing (800) 218-0713 or (303) 262-2125, confirmation code: 11123469. Each of these conference calls will also be accessible via an online Web simulcast through the Company's website at [ www.biminicapital.com ]. An online replay of each call will be available through the Company's website approximately two hours following the conclusion of the live broadcast of each call and will continue for 30 days.
About Bimini Capital Management
Bimini Capital Management, Inc. is a REIT that invests primarily in, but is not limited to, residential mortgage-related securities issued by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Government National Mortgage Association (Ginnie Mae). Its objective is to earn returns on the spread between the yield on its assets and its costs, including the interest expense on the funds it borrows.
Statements herein relating to matters that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The reader is cautioned that such forward-looking statements are based on information available at the time and on management's good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in such forward-looking statements. Important factors that could cause such differences are described in Bimini Capital Management, Inc.'s filings with the Securities and Exchange Commission, including Bimini Capital Management, Inc.'s most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q.Bimini Capital Management, Inc. assumes no obligation to update forward-looking statements to reflect subsequent results, changes in assumptions or changes in other factors affecting forward-looking statements.
