|By Marketwired .||
|July 8, 2014 04:05 PM EDT||
NEW YORK, NY -- (Marketwired) -- 07/08/14 -- Bexil Corporation (PINKSHEETS: BXLC) today reported its financial results for the year ended December 31, 2013. Bexil recorded a net loss attributable to Bexil shareholders of $4,564,052 or $4.54 per share for the year ended December 31, 2013 compared to a net loss attributable to Bexil shareholders of $7,100,019 or $6.97 per share for the year ended December 31, 2012. The Company's book value per share attributable to Bexil shareholders at December 31, 2013 was $24.12, based on shareholders' equity attributable to Bexil shareholders of $23,698,968 and 982,245 shares issued and outstanding.
Bexil announced today that its 2014 annual meeting of stockholders will be held at The Down Town Association, 60 Pine Street, New York, New York on August 6, 2014 at 11:00 a.m., local time, for the following purposes: to elect a director, to ratify the appointment of auditors, to approve the Company's 2014 Stock Incentive Plan, and to act upon any other business as may properly come before the meeting or any adjournment thereto. Stockholders of record at the close of business on May 16, 2014 are entitled to receive notice of and to vote at the meeting. After the formal business of the meeting is concluded, company executives will make a presentation of financial results and business developments, and respond to questions. To access the annual meeting and presentation by conference call, please dial 1-760-569-7171, Access Code: 643575#.
Bexil also announced today that it has undertaken a strategic review to assess alternatives relative to its mortgage banking operations to enhance and maximize shareholder value, although no specific time frame has been set.
The Company's Combined 2014 Proxy Statement, 2013 Annual Report, including audited financial statements, is available on www.bexil.com.
About Bexil Corporation
Bexil is a holding company engaged through subsidiaries in investment management, securities trading, and mortgage banking. Bexil subsidiary Bexil Advisers LLC is investment manager to Dividend and Income Fund, a closed end fund (NYSE: DNI) (NAV: XDNIX). Bexil American Mortgage Inc. is engaged in residential mortgage banking, including origination and servicing. To learn more about Bexil, including Rule 15c2-11 information, please visit www.bexil.com. Certain affiliates of Bexil are engaged in stock market and gold investing through investment management of equity and gold mutual funds and closed end funds.
Safe Harbor Note
This release contains certain "forward looking statements" made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Bexil, which may cause the Company's actual results to be materially different from those expressed or implied by such statements. The forward looking statements made herein are only made as of the date of this release, and the Company undertakes no obligation to publicly update such forward looking statements to reflect subsequent events or circumstances.
The Company views book value per share, a non-GAAP financial measure, as an important indicator of financial performance. Presented in conjunction with other financial information, the combined presentation can enhance an investor's understanding of the Company's underlying financial condition and results from operations. The definition of book value as presented in this press release is shareholders' equity attributable to Bexil shareholders divided by currently issued and outstanding shares.
This press release is neither an offer to sell, nor a solicitation of an offer to buy, shares of any company, nor is it a solicitation of any proxy.