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Fund asks shareholders to vote yes
NEW YORK, July 23, 2024 (GLOBE NEWSWIRE) -- Dream Chasers Capital believes it's time to Make Carver Great Again.
In that endeavor, Dream Chasers Capital Group - Carver Bancorp's largest minority shareholder with a 5% stake - is nominating 2 new members to the bank’s board at its upcoming annual shareholder meeting and we are asking for your vote.
On July 12, 2024, DCCG sent Carver’s board a slate of 2 new nominees for election to the board at the bank’s upcoming annual meeting. On July 18, 2024 Carver notified Dream Chasers of its receipt of our director nominees.
The fund believes both nominees are not only supremely qualified, but if successfully elected by you the shareholders, will execute a new strategic plan for growth which will lead to profitability, enrich the community and deliver significant shareholder value. We are confident that fellow Carver shareholders will view these 2 nominees as aligned with their interests and we see no reason why the bank should have any issues with these exceptional directors.
We believe any attempt to deny these directors a vote – out of self-preservation or self-interest – may be a catalyst for an eventual sub $1 per share stock price, significantly handicap the bank's ability to raise future capital to carry out its mission and present going concern risk. Dream Chasers believes it has the tacit support of a large percentage of Craver's shareholders and we remain open to negotiation for the benefit of all shareholders. We encourage the Board to do the right thing as shareholder watch.
About nominee #1: Jeff Anderson
Mr. Anderson is 63 yr. old and a recently retired financial executive with J.P. Morgan where he previously served in a CFO role that oversaw 850 tri-state area banking centers and at the time comprised of an income statement with $3.7 billion in revenue, $1.7 billion in pretax earnings as well as a balance sheet of $100 billion in deposits and investments, and $15 billion in loans.
Over the last 40 years Jeff has worked at many of the most prestigious financial service companies and banks such as Goldman Sachs, Bank of America, AIG, and Arthur Andersen.
In his various roles at these institutions, Jeff has proven to be a result driven and accomplished senior financial management executive and corporate officer with extensive experience in consumer insurance, consumer banking, expense management governance and execution, project management, budgeting, risk management, centers of excellence operations, asset management, and compliance. Additional strengths in incentive programs, cost reduction initiatives, operational effectiveness, and talent management. Jeff possesses a successful track record of increasing corporate profitability and shareholder value by leading the execution of competitive business strategies that increase revenues and reduce expenses on a global scale.