Bimini CapitalManagement Inc. shareholders will vote on the company's proposal,according to a preliminary proxy statement filed April 6.

The board adopted a stockholder rights plan designed topreserve stockholder value and the value of certain tax assets primarilyassociated with net operating loss carry-forwards.

Holders of record of Bimini Capital's class A common stockand class B common stock as of March 30 are entitled to vote at the June 9annual meeting of stockholders.

The board recommends shareholders vote for the rights plan.