January 18, 2018 / 1:47 PM / a month ago

BRIEF-Five Oaks Investment Announces New Strategic Direction And Entry Into New External Management Agreement With Affiliate Of Hunt Companies

Jan 18 (Reuters) - Mma Capital Management Llc:

* FIVE OAKS INVESTMENT CORP. ANNOUNCES NEW STRATEGIC DIRECTION AND ENTRY INTO NEW EXTERNAL MANAGEMENT AGREEMENT WITH AFFILIATE OF HUNT COMPANIES, INC.

* FIVE OAKS INVESTMENT - HUNT ACQUIRES APPROXIMATELY 9.5% OF FIVE OAKS COMMON STOCK AT A PRICE OF $4.77 PER SHARE

* FIVE OAKS INVESTMENT - ‍PURSUANT TO TERMS OF TERMINATION AGREEMENT BETWEEN CO AND OCCP, TERMINATION OF AGREEMENT DID NOT TRIGGER TERMINATION FEE BY CO

* FIVE OAKS INVESTMENT CORP - IN CONNECTION WITH DEAL, DAVID CARROLL RESIGNED AS A DIRECTOR, CHAIRMAN AND CEO OF COMPANY

* FIVE OAKS INVESTMENT - AFFILIATE OF HUNT ALSO PURCHASED 710,495 FIVE OAKS SHARES FROM CO‘S LARGEST CURRENT SHAREHOLDER, XL INVESTMENTS

* FIVE OAKS INVESTMENT - XL INVESTMENTS AGREED TO TERMINATE ALL OF ITS CURRENTLY HELD FIVE OAKS WARRANTS

* FIVE OAKS INVESTMENT - IN CONNECTION WITH DEAL, BOARD APPOINTED JAMES P. FLYNN AS CEO OF FIVE OAKS

* FIVE OAKS INVESTMENT - AFTER SHARE PURCHASES, HUNT, AFFILIATES TO OWN ABOUT 9.5% OF CO‘S OUTSTANDING SHARES

* FIVE OAKS - EXPECTED CURRENT CO‘S EXECUTIVES TO SIGN EMPLOYMENT AGREEMENTS WITH HUNT, MAJORITY CURRENT EMPLOYEES OF OCCP TO BECOME EMPLOYEES OF HUNT​

* FIVE OAKS INVESTMENT CORP - ‍FOLLOWING DEAL, BOARD WILL CONTINUE TO BE COMPRISED OF A MAJORITY OF INDEPENDENT DIRECTORS​ Source text for Eikon: Further company coverage:

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