There have been a number of companies that have been in significant focus following key announcements that they made this week, and one of those is M & F Bancorp Inc. (OTC: MFBP). The parent company of M & F Bank was in sharp focus on February 3 after it made a key new announcement about a new plan related to shareholders rights.
The Plan
The company, which is the holding company of the second oldest African American-owned bank in America, announced at the time that its board of directors had unanimously decided to adopt a 10-year shareholder rights plan. In the news release, M & F Bancorp announced that the rights plan in question would ensure that the board was in a great position to take care of its fiduciary duties and to ensure fair treatment to all the shareholders.
Further Information
It was also stated that the plan would also make sure that all the shareholders of the company would get long-term value from their investment in M & F Bancorp. That will happen thanks to the plan, which will ensure that no group or person manages to wrest full control of the company through stock accumulation from the open market.
