MIDLOTHIAN, Va., March 27, 2013 (GLOBE NEWSWIRE) -- Bank of Virginia (Nasdaq:BOVA) (the "Bank") ( www.bankofva.com ), announced that its shareholders approved the Bank's pending reorganization as a wholly owned subsidiary of its majority shareholder, Cordia Bancorp Inc., at a special meeting held earlier today. Under the terms of the Agreement and Plan of Share Exchange between Cordia Bancorp and the Bank, each outstanding share of Bank common stock owned by persons other than Cordia Bancorp will be exchanged for 0.664 of a share of Cordia Bancorp common stock. The share exchange was previously approved by the shareholders of Cordia Bancorp. The share exchange is expected to be completed on March 29, 2013. Shares of Cordia Bancorp will commence trading on The Nasdaq Stock Market on Monday, April 1, 2013 under the symbol "BVA". Upon the closing of the reorganization, Cordia will have approximately 2,778,900 shares of common stock outstanding.
Bank Of Virginia Shareholders Approve Share Exchange With Cordia Bancorp Inc.
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