LOS ANGELES, Dec. 31, 2010 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (Nasdaq:HAFC), the holding company for Hanmi Bank, to avoid confusion, announced today that, per its terms, the amended Securities Purchase Agreement with Woori Finance Holdings Co. Ltd. will continue in full force and effect beyond the December 31, 2010 "outside date" established in the Agreement. The amended Purchase Agreement can be terminated by either party under certain circumstances.
"While we have amended the agreement with Woori so that it is no longer an exclusive arrangement, we continue to work with both U.S. and Korean regulators to gain regulatory approval for this transaction," said Jay S. Yoo, President and Chief Executive Officer. "We believe the agreement continues to be beneficial to both parties and hope to complete the transaction in the coming year."
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and assumptions. Any forward-looking statements relate to the Company's current expectations and are subject to the limitations and qualifications set forth in this press release, as well as in the Company's other documents filed with the U.S. Securities and Exchange Commission, including, without limitation, that actual events and/or results may differ materially from those projected in such forward-looking statements.
CONTACT: Hanmi Financial Corporation Brian E. Cho, Chief Financial Officer (213) 368-3200