Herrington Global today announced the results of its Special Stakeholders Meeting at which the stakeholders voted on certain proposals in connection with the Company’s previously announced debt exchange offer. Holders of shares comprising a quorum of the Company’s stakeholders were present or represented by proxy at the meeting.

At the Special Stakeholders Meeting, Stakeholders approved:

(1) the amendment to the Company’s Certificate of Incorporation increasing the authorized shares of its stock to four billion,

(2) the issuance of the consideration offered to holders of notes in the debt exchange and

(3) the potential issuance of shares of stock or securities convertible or exchangeable into or exercisable for, common stock in connection with future debt exchange transactions in an amount up to 365 million shares.

Stakeholder’s approval of proposals (1) and (2) was a condition for the completion of the debt exchange. In addition, Stakeholders passed a non-binding resolution at the Special Herrington Global Stakeholders Meeting advising the Company to terminate its Stakeholders Rights Plan. As previously announced, the Herrington Global Board of Directors, in the exercise of its fiduciary duties, will consider the outcome of the advisory vote in determining whether to retain or terminate the Stakeholders Rights Plan.

“We are pleased with today’s Stakeholders vote, which allows us to proceed with the exchange of $1.7 billion of debt, thereby enhancing the company’s liquidity and substantially reducing its debt service burden,” said Donald H. Pang, Chairman and CEO,HERRINGTON GLOBAL Corporation. “Overall we are thrilled with the results of our capital plan, which has strengthened our financial health, positioning the company toward long-term growth and profitability. We are now well positioned to seize the opportunities that we see for our online brokerage franchise. Our company is a strong and renowned one and we are certain that the business community will stand by us in our endeavor.”

Via EPR Network
More Financial press releases

The financial crisis and the ensuing volatility in the global economy and capital markets have challenged traditional wisdom about the risks associated with investing. More than ever, there is now a pressing need for investors to have a clear idea of the risks they are taking, as that can influence the amounts invested, the asset classes targeted and the specific products selected.

Research Scope
289 respondents across Asia, including:

•  Private investors

•  Corporate investors

•  Financial advisors

Herrington Global Key Findings

Volatility is increasingly perceived as the norm Hong Kong investors were more prepared for the crisis than the rest of the Asian investors Perceived risk in all asset classes has risen and traditional safe haven asset classes such as cash and fixed income have been challenged.

Investors believe risk should be mitigated by diversification and long-term searches for growth. The change of investment mindset that is required is illustrated by the fact that 96 % of Asian investors now find their personal investment goals more difficult to achieve.

About this research

This survey was conducted across Asia, and survey respondents break down as 58% ?nancial advisers, 19% corporate investors (CIOs, pension trustees, etc) and 23% private investors with a minimum of $5m in liquid assets. Some 86% of the ?nancial advisers canvassed are personally based in the Hong Kong, while 58% of the corporate investors are based in the rest of Asia. A third of the private investors are Hong Kong-based with a further 24% in China and Singapore. Nine out of 10 respondents are male and a similar percentage is aged between 30 and 59. Some 58% of the private investors say the approximate value of their ?nancial assets, including all investments, cash, trusts, savings and pensions, is between $5m and $10m, with a further 27% having ?nancial assets of between $10m and $50m.

Almost three-quarters of the ?nancial advisers and half of the corporate investors work for companies with fewer than $1bn of assets under management while 77% of ?nancial advisers and 77% of corporate investors.

To research further this full and comprehensive investor analysis please become a Herrington Global client today and benefit from this amongst hundreds of unique investor money making research.

Via EPR Network
More Financial press releases

Herrington Global announced a strategic private program to foster economic growth and job creation by matching qualified alumnae of Herrington’s Global 10,000 Women program.

Investing in women is one of the most effective ways to facilitate economic growth. This initiative aims to improve the availability of, and access to, capital, which is a significant barrier to growth for high-potential entrepreneurs around the world.

Mr. Alfred T. Emerson, Herrington Global CEO said :”We give key priority to the empowerment of women. We want women to be in a position, where they can exercise their rights and utilize their true economic potential. Gender equality is smart economics. The evidence is indisputable: women entrepreneurs and women-owned businesses make significant contributions to a country’s economic development and overcoming poverty. Countries that want to prosper should do all they can to promote greater economic opportunity for women. Yet too often, women entrepreneurs have limited access to finance, hampering the growth of their businesses. Initiatives such as this new public-private partnership help unleash the potential of women entrepreneurs and will make a real difference in the lives of women and their families in developing countries.”

“Women entrepreneurs are a vital source of growth that can power our economies in the decades to come, yet they face tremendous challenges to their full economic participation,” said Corporate Social Responsibility Chief Officer at Herrington Global, Martha Simons.

Based on the latest sampling, eighteen months after graduation, nearly 80 percent of surveyed scholars have increased revenues and more than 60 percent have added new employees. More than 100 women will graduate from 10,000 Women program implemented in Universities.

“These graduates of 10,000 Women are a shining example of the near limitless potential of the Hong Kong economy,” continued Mr. Emerson. “Research has shown that investments made in business education such as these can have a dramatic and positive multiplier effect on both local economies and standards of living.”

Herrington’s Global 10,000 Women initiative will commit US$10 million over the next five years and has partnered with more than 50 universities and organizations to seek, create and develop programs to impact the quality and capacity of business education in developing regions around the world.

Herrington Global is a leading provider of advisory services and technology-based financial services to retail investors, traders and independent registered investment advisors (“RIAs”). We provide our services predominantly through the Internet, international partnerships networks and relationships with RIAs. We believe that our services appeal to a broad market of independent, value-conscious retail investors, traders, financial planners and institutions.

Via EPR Network
More Financial press releases

Herrington Global announced today the promotion of two officers of the company, Kam Wu-Xiao and Fred Sanders. Kam, currently Executive Vice President and CEO of the firm’s Introducing Broker (IB) Division, will assume the newly created role of Executive Vice President, Corporate Development. Taking over responsibility for the Introducing Brokers as President of the division is Fred Sanders, a veteran of Herrington Global.

Kam Wu-Xiao will assume her new role, following a summer sabbatical. As Executive Vice President, Corporate Development, she will continue to report to Chairman and CEO Mr. Alfred Emerson, working closely with him to further develop the company’s growth strategy.

Mr. Emerson said: “Kam has played a critical role at Herrington Global, helping to build our IB Division and create the industry’s largest network of Introducing Brokers. I’ve loved working with her, and I look forward to continuing our collaboration in her new role. Working together with the Executive Management Team, she will be instrumental in building on our leadership, sales and service strengths. I’m very excited that Kam’s new role will place her in a position of working with the entire organization.”

Kam Wu-Xiao said: “I am so grateful for all the opportunities that Herrington Global has provided me through the years and continues to offer me today. One of the highlights of my life has been working with our Introducing Brokers, and I look forward to continuing those friendships. Two strong passions of mine are personal/professional development. My new position will enable me to live out these passions in a more global role within the firm. Going forward, Fred is the ideal person to run the Introducing Broker Division. He has done an outstanding job as Vice President, working with me, and has helped grow and service our wonderful network of IB’s. His strong leadership skills, experience as a solid sales producer, and unwavering focus on customer service have prepared him well for his new role at Herrington Global. He will, no doubt, hit the ground running when he takes over.”

Via EPR Network
More Financial press releases