On August 8, 2019, Two River Bancorp (“Two River”) completed the redemption of all of the outstanding stock purchase rights (“Rights”) issued under the Shareholder Rights Agreement, dated July 20, 2011 (the "Rights Agreement"), by and between Two River and Computershare Limited (“Computershare”), successor in interest to Registrar and Transfer Company, as rights agent (the "Agent"), at a redemption price of $0.00092464 per outstanding Right, or $8,036 in the aggregate. Therefore, all rights to exercise the Rights terminated as of August 8, 2019, and the only remaining right of the holders of Rights is to receive the redemption price for the Rights held.
The redemption price was determined pursuant to the terms of the Rights Agreement, and was adjusted to reflect all stock splits, stock dividends, and similar transactions occurring after the date of the Rights Agreement. The redemption price will be payable in cash, and such payment will be mailed by the Agent to the holders of the Rights within the next 30 days.
Prior to the redemption of the Rights, holders of Two River's common stock, no par value per share (the "Common Stock"), had one Right for each share of Common Stock outstanding. Each Right had entitled the holder to purchase from Two River one one-thousandth of a share of Series B Junior Participating Preferred Stock. Computershare also serves as the transfer agent for the Common Stock.