EX-99.1
5
bmnm8k05272008ex99-1.htm
BMNM 8K 05-27-2008 EX 99.1
bmnm8k05272008ex99-1.htm
Exhibit
99.1
[Bimini
Capital Management, Inc. Logo]
BIMINI
CAPITAL MANAGEMENT ANNOUNCES RESULTS OF STOCKHOLDER VOTES AT 2008 ANNUAL MEETING
AND
PROVIDES
OPERATIONAL UPDATE
VERO BEACH, FL (May 29, 2008)
- Bimini Capital Management, Inc. (BMNM.PK) ("Bimini Capital" or the "Company"),
a real estate investment trust ("REIT"), today announced that, at the Company's
2008 Annual Meeting of Stockholders, Robert E. Cauley and Robert J. Dwyer were
each re-elected as directors of the Company. Mr. Cauley was
re-elected as a Class II director to serve until the Company's 2011 Annual
Meeting of Stockholders. Mr. Dwyer was re-elected as a Class III
director to serve until the Company's 2009 Annual Meeting of
Stockholders.
The
Company today also announced that the proposal to amend the Company's Charter,
as described in the Company's definitive proxy statement as filed with the
Securities and Exchange Commission on April 11, 2008, was approved by a majority
of the Company's stockholders. Accordingly, the Company has filed
Articles of Amendment with the State Department of Assessments and Taxation of
the State of Maryland to amend the Company's Charter. Finally, the
Company today announced that the financing facility secured by the Company's
residual interests in securitizations has matured, and all liabilities under
such facility have been extinguished.
About
Bimini Capital Management
Bimini
Capital Management, Inc. is a REIT that invests primarily in, but is not limited
to, residential mortgage-related securities issued by the Federal National
Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation
(Freddie Mac) and the Government National Mortgage Association (Ginnie
Mae). Its objective is to earn returns on the spread between the
yield on its assets and its costs, including the interest expense on the funds
it borrows.
Statements
herein relating to matters that are not historical facts are forward-looking
statements as defined in the Private Securities Litigation Reform Act of 1995.
The reader is cautioned that such forward-looking statements are based on
information available at the time and on management's good faith belief with
respect to future events, and are subject to risks and uncertainties that could
cause actual performance or results to differ materially from those expressed in
such forward-looking statements. Important factors that could cause such
differences are described in Bimini Capital Management, Inc.'s filings with the
Securities and Exchange Commission, including Bimini Capital Management, Inc.'s
most recent Annual Report on Form 10-K or Quarterly Report on Form
10-Q. Bimini Capital Management, Inc. assumes no obligation to update
forward-looking statements to reflect subsequent results, changes in assumptions
or changes in other factors affecting forward-looking statements.
Contact: Robert
E. Cauley
President & Chief Executive
Officer
(772) 231-1400
HUwww.biminicapital.comU

EX - 99 . 1 5 bmnm8k05272008ex99 - 1 . htm BMNM 8K 05 - 27 - 2008 EX 99 . 1 bmnm8k05272008ex99 - 1 . htm Exhibit 99 . 1 [ Bimini Capital Management , Inc . Logo ] BIMINI CAPITAL MANAGEMENT ANNOUNCES RESULTS OF STOCKHOLDER VOTES AT 2008 ANNUAL MEETING AND PROVIDES OPERATIONAL UPDATE VERO BEACH , FL ( May 29 , 2008 ) - Bimini Capital Management , Inc . ( BMNM . PK ) ( " Bimini Capital " or the " Company " ) , a real estate investment trust ( " REIT " ) , today announced that , at the Company 's 2008 Annual Meeting of Stockholders , Robert E . Cauley and Robert J . Dwyer were each re - elected as directors of the Company . Mr . Cauley was re - elected as a Class II director to serve until the Company 's 2011 Annual Meeting of Stockholders . Mr . Dwyer was re - elected as a Class III director to serve until the Company 's 2009 Annual Meeting of Stockholders . The Company today also announced that the proposal to amend the Company 's Charter , as described in the Company 's definitive proxy statement as filed with the Securities and Exchange Commission on April 11 , 2008 , was approved by a majority of the Company 's stockholders . Accordingly , the Company has filed Articles of Amendment with the State Department of Assessments and Taxation of the State of Maryland to amend the Company 's Charter . Finally , the Company today announced that the financing facility secured by the Company 's residual interests in securitizations has matured , and all liabilities under such facility have been extinguished . About Bimini Capital Management Bimini Capital Management , Inc . is a REIT that invests primarily in , but is not limited to , residential mortgage - related securities issued by the Federal National Mortgage Association ( Fannie Mae ) , the Federal Home Loan Mortgage Corporation ( Freddie Mac ) and the Government National Mortgage Association ( Ginnie Mae ) . Its objective is to earn returns on the spread between the yield on its assets and its costs , including the interest expense on the funds it borrows . Statements herein relating to matters that are not historical facts are forward - looking statements as defined in the Private Securities Litigation Reform Act of 1995 . The reader is cautioned that such forward - looking statements are based on information available at the time and on management 's good faith belief with respect to future events , and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in such forward - looking statements . Important factors that could cause such differences are described in Bimini Capital Management , Inc . 's filings with the Securities and Exchange Commission , including Bimini Capital Management , Inc . 's most recent Annual Report on Form 10 - K or Quarterly Report on Form 10 - Q . Bimini Capital Management , Inc . assumes no obligation to update forward - looking statements to reflect subsequent results , changes in assumptions or changes in other factors affecting forward - looking statements . Contact : Robert E . Cauley President & Chief Executive Officer ( 772 ) 231 - 1400 HUwww . biminicapital . comU