WGNB Corp. (NASDAQ: WGNB), the holding company for First National Bank
of Georgia, announced that the expiration date for the rights portion of
the offering of its 9% Series A Convertible, Preferred Stock Offering
dated July 31, 2008 has been extended from the original expiration date
of August 29, 2008 to September 19, 2008. The expiration date for
the reoffering of any unsubscribed shares of the preferred stock to the
general public will remain October 31, 2008.
“I am pleased to report that the response to
the preferred stock rights offering has been positive,”
said H. B. “Rocky”
Lipham, III, Chief Executive Officer of WGNB Corp. and First National
Bank of Georgia. “In fact, our directors,
executive management and related parties have increased their
subscriptions to over $9.4 million, or 31% of the total contemplated
offering.”
“In recent days, we have received notice that
many shareholders were delayed in receiving their subscription materials
from their brokerage accounts and we believe it is appropriate to extend
the deadline for the rights offering in order to give all of our
shareholders adequate time in which to participate. We encourage
shareholders who hold shares through brokerage accounts and who still
have not received their subscription materials to immediately contact
their brokers,” added Lipham.
Shareholders holding their shares in certificate form should complete
the rights certificate for both their rights portion and any over
subscription they wish to request. The completed rights certificate and
W-9, along with a check for the subscribed number of shares should be
sent to Registrar and Transfer Company at 10 Commerce Drive, Cranford,
New Jersey, 07016-3572 so that payment can be received by September 19,
2008. Those wishing to wire their payment should follow the wiring
instructions provided with the offering materials.
Shareholders who hold their shares in a brokerage account should contact
their brokers and instruct them to exercise their rights portion and any
over subscription they wish to request. This must be done by September
19, 2008; although, most brokers will request an earlier date for actual
receipt of shareholder instructions.
Instructions for these procedures are included in the offering materials
previously delivered. However, shareholders who have any questions may
call Registrar and Transfer Company at (800) 368-5948, or WGNB Corp. at
770-832-3557.
About WGNB Corp.
WGNB Corp. stock is traded on the NASDAQ Capital Market under the symbol
WGNB. First National Bank of Georgia has 17 locations in Carroll,
Coweta, Douglas and Haralson counties. Total assets for the Bank are
$883,000,000. For more information about First National Bank of Georgia,
visit www.fnbga.com. Interested
parties may contact Steven J. Haack, Chief Financial Officer, via email
at shaack@wgnb.com, by phone at
770-832-3557, or at WGNB Corp., P.O. Box 280, Carrollton, Georgia 30112.
Except for historical information contained in this press release, the
matters discussed consist of forward-looking information under the
Private Securities Litigation Reform Act of 1995. The accuracy of the
forward-looking information is necessarily subject to and involves risk
and uncertainties, which could cause actual results to differ materially
from forward-looking information. These risk and uncertainties include
but are not limited to, general economic conditions, competition and
other factors, included in filings with the Securities and Exchange
Commission.
FNBGA
Charity Aaron
Marketing Manager, 770-214-7208
caaron@fnbga.com
