Anthracite Capital Announces Addition to Board of Directors
November 10 2009 - 7:30AM
Business Wire
Anthracite Capital, Inc. (“Anthracite” or the “Company”)
(NYSE:AHR) today announced that Kathleen M. Hagerty, Senior
Associate Dean for Faculty and Research at the Kellogg School of
Management at Northwestern University, was elected to its Board of
Directors.
Chris Milner, Chief Executive Officer of Anthracite, stated, “We
are extremely pleased to have Kathleen join the Board of Directors.
Her insights and knowledge of financial markets will benefit the
Company significantly.”
With the addition of Ms. Hagerty, the Board consists of seven
directors, five of whom are not affiliated with the Company, or the
manager.
Brief biographical information regarding Ms. Hagerty is provided
below, and additional information can be found on the "Investor
Relations" section of Anthracite's website,
www.anthracitecapital.com.
Kathleen M. Hagerty holds the First Chicago Professorship in
Finance at the Kellogg School of Management at Northwestern
University. She has been the Senior Associate Dean for Faculty and
Research at the Kellogg School since 2005. Professor Hagerty has
published widely in finance and economic journals. Her work has
studied the micro-structure of securities markets, disclosure
regulation, insider trading regulation and the effectiveness of
self-regulatory organizations. She received her Ph.D. from Stanford
University in 1985. Ms. Hagerty received an MBA (1979), MS in
Operations Research (1977) and a BA in Mathematics (1975) from the
University of California, Berkeley.
About Anthracite
Anthracite Capital, Inc. is a specialty finance company focused
on investments in high yield commercial real estate loans and
related securities. Anthracite is externally managed by BlackRock
Financial Management, Inc., which is a subsidiary of BlackRock,
Inc. (“BlackRock”) (NYSE:BLK), one of the largest publicly traded
investment management firms in the United States with approximately
$1.435 trillion in global assets under management at September 30,
2009. BlackRock Realty Advisors, Inc., another subsidiary of
BlackRock, provides real estate equity and other real
estate-related products and services in a variety of strategies to
meet the needs of institutional investors.
Forward-Looking Statements
This release, and other statements that Anthracite may make, may
contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, with respect to
Anthracite’s future financial or business performance, strategies
or expectations. Forward-looking statements are typically
identified by words or phrases such as “trend,” “potential,”
“opportunity,” “pipeline,” “believe,” “comfortable,” “expect,”
“anticipate,” “current,” “intention,” “estimate,” “position,”
“assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,”
“seek,” “achieve,” and similar expressions, or future or
conditional verbs such as “will,” “would,” “should,” “could,” “may”
or similar expressions.
Anthracite cautions that forward-looking statements are subject
to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are
made, and Anthracite assumes no duty to and does not undertake to
update forward-looking statements. Actual results could differ
materially from those anticipated in forward-looking statements and
future results could differ materially from historical
performance.
In addition to factors previously disclosed in Anthracite’s SEC
reports and those identified elsewhere in this release, the
following factors, among others, could cause actual results to
differ materially from forward-looking statements or historical
performance: (1) the introduction, withdrawal, success and timing
of business initiatives and strategies; (2) changes in political,
economic or industry conditions, the interest rate environment,
financial and capital markets or otherwise, which could result in
changes in the value of the Company's assets and liabilities,
including net realized and unrealized gains or losses, and could
adversely affect the Company's operating results; (3) the Company's
ability to meet its liquidity requirements to continue to fund its
business operations, including its ability to renew its existing
facilities or obtain replacement financing, to meet amortization
payments under the facilities and to service debt; (4) the amount
and timing of any future margin calls and their impact on the
Company's financial condition and liquidity; (5) the Company's
ability to obtain amendments and waivers in the event that a lender
terminates a facility before the maturity date or debt obligations
are accelerated due to a covenant breach or otherwise; (6) the
relative and absolute investment performance and operations of
BlackRock Financial Management, Inc. (the ''Manager''), the
Company's Manager; (7) the impact of increased competition; (8) the
impact of future acquisitions or divestitures; (9) the unfavorable
resolution of legal proceedings; (10) the impact of legislative and
regulatory actions and reforms and regulatory, supervisory or
enforcement actions of government agencies relating to the Company
or the Manager; (11) terrorist activities and international
hostilities, which may adversely affect the general economy,
domestic and global financial and capital markets, specific
industries, and the Company; (12) the ability of the Manager to
attract and retain highly talented professionals; (13) fluctuations
in foreign currency exchange rates; (14) the impact of changes to
tax legislation and, generally, the tax position of the Company;
and (15) as a result of its liquidity position, current market
conditions and the uncertainty relating to its ability to meet
covenants in restructured agreements, substantial doubt about the
Company's ability to continue as a going concern.
Anthracite’s Annual Report on Form 10-K for the year ended
December 31, 2008 and Anthracite’s subsequent filings with the SEC,
accessible on the SEC's website at www.sec.gov, identify additional
factors that can affect forward-looking statements.
To learn more about Anthracite, visit
our website at www.anthracitecapital.com. The information contained
on the Company’s website is not a part of this release.
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