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Mercantil Servicios establishes record date for Mercantil Bank Holding spinoff

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Mercantil Servicios establishes record date for Mercantil Bank Holding spinoff

The board of Mercantil Servicios Financieros CA established April 2 as the record date for the proposed spinoff distribution of Mercantil Bank Holding Corp. common shares to Mercantil Servicios Financieros shareholders announced Dec. 20, 2017.

Thus, one cannot buy Mercantil Servicios Financieros shares after March 26 and be a record holder of Mercantil Servicios Financieros entitled to receive Mercantil Bank Holding shares in the distribution.

The spinoff distribution will be 80.1% of the outstanding shares of Coral Gables, Fla.-based Mercantil Bank Holding's issued and outstanding shares of each of class A and class B common stock, which will be delivered by book-entry pro rata to holders of record of Mercantil Servicios Financieros class A and class B shares, respectively, on April 2.

Mercantil Servicios Financieros, after the completion of the spinoff, is anticipated to sell from time to time the 19.9% of Mercantil Bank Holding class A and class B common stock that it will retain following the spinoff distribution of Mercantil Bank Holding shares to Mercantil Servicios Financieros shareholders.