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BRIEF-Equity Financial Update on Shareholders Supporting Arrangement with Smoothwater Capital
December 4, 2017 / 1:59 PM / 8 days ago

BRIEF-Equity Financial Update on Shareholders Supporting Arrangement with Smoothwater Capital

Dec 4 (Reuters) - Equity Financial Holdings Inc:

* EQUITY FINANCIAL HOLDINGS INC. PROVIDES UPDATE ON SHAREHOLDERS SUPPORTING THE ARRANGEMENT WITH SMOOTHWATER CAPITAL CORPORATION

* EQUITY FINANCIAL - ‍ADVISED THAT SHAREHOLDERS HOLDING ABOUT 16.03% SHARES OF CO ENTERED AMENDED “HARD” LOCK-UP AGREEMENTS WITH SMOOTHWATER CAPITAL

* EQUITY FINANCIAL - AFTER AMENDING AGREEMENT WITH SMOOTHWATER, CO GOT 2 EXPRESSIONS OF INTEREST TO BUY UP TO 100% OUTSTANDING SHARES

* EQUITY FINANCIAL - ONE EXPRESSIONS OF INTEREST CONTEMPLATED PER SHARE PURCHASE PRICE OF AT LEAST $11.25, ALL CASH

* EQUITY FINANCIAL - SECOND EXPRESSION OF INTEREST CONTEMPLATED ALL CASH PURCHASE PRICE RANGE OF $12.50 TO $13.50 PER SHARE

* EQUITY FINANCIAL - SPECIAL COMMITTEE DECIDED TO SUSPEND FURTHER PURSUIT OF EXPRESSIONS OF INTEREST RECEIVED

* EQUITY FINANCIAL - IN TOTAL, SHAREHOLDERS HOLDING ABOUT 49.12% SHARES HAVE AGREED TO VOTE THEIR SHARES IN FAVOUR OF SMOOTHWATER​ ARRANGEMENT Source text for Eikon: Further company coverage:

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