ST. PETERSBURG, Fla.--(BUSINESS WIRE)--
United Insurance Holdings Corp. (NASDAQ:UIHC)(UPC Insurance or
the Company), a property and casualty insurance holding company, today
announced the results of the special meeting of stockholders that took
place on February 3, 2017. A total of approximately 78.7% of the shares
of the Company’s common stock out of the total shares of common stock
issued and outstanding and entitled to vote were present in person or
represented by proxy at the special meeting. A total of approximately
98.8% of the shares voted approved the issuance of shares of common
stock as contemplated by the Agreement and Plan of Merger, dated August
17, 2016, by and among the Company, Kilimanjaro Corp., Kili LLC, RDX
Holding, LLC, R. Daniel Peed, Peed FLP1, Ltd., L.L.P and AmCo Holding
Company. The second proposal to adjourn the special meeting to a later
date or time was rendered moot and was not voted on at the special
meeting.
Additionally, on February 3, 2017, the Company received regulatory
approvals from the Florida Office of Insurance Regulation for its
pending merger with American Coastal Insurance Company. Other conditions
to closing the transaction remain pending, and, subject to the
satisfaction of such conditions, UPC Insurance expects to close the
transaction during the first calendar quarter of 2017.
About UPC Insurance
Founded in 1999, UPC Insurance is an insurance holding company that
sources, writes and services residential property and casualty insurance
policies using a network of independent agents and a group of wholly
owned insurance subsidiaries. UPC Insurance writes and services property
and casualty insurance in Connecticut, Florida, Georgia, Hawaii,
Louisiana, Massachusetts, New Jersey, New York, North Carolina, Rhode
Island, South Carolina and Texas, and is licensed to write in Alabama,
Delaware, Maryland, Mississippi, New Hampshire, and Virginia. From its
headquarters in St. Petersburg, UPC Insurance's team of dedicated
professionals manages a completely integrated insurance company,
including sales, underwriting, customer service and claims.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170206006184/en/
United Insurance Holdings Corp.
Jessica Strathman,
727-895-7737
SEC Reporting Manager
jstrathman@upcinsurance.com
or
INVESTOR
RELATIONS:
The Equity Group
Adam Prior, 212-836-9606
Senior
Vice-President
aprior@equityny.com
Source: United Insurance Holdings Corp.