WINSTON-SALEM, N.C., March 17 /PRNewswire-FirstCall/ -- Triad Guaranty
Inc. (Nasdaq: TGIC) reported today that it will delay filing its Annual
Report on Form 10-K for the period ended December 31, 2007. The Company
expects to file the Report by April 1, 2008, which is within the time
period permitted under applicable SEC rules.
As previously disclosed in its Current Report on Form 8-K filed
February 14, 2008, the Company has developed and is pursuing a plan to
enhance its capital resources. The Company currently is actively engaged in
negotiations with a third party investor group regarding a potential
transaction related to its capital enhancement efforts. The Annual Report
would require disclosures regarding the nature and implications of the
negotiations. As they have not been finalized, Triad has delayed the filing
of its Annual Report.
Ken Jones, Senior Vice President and Chief Financial Officer said,
"While we have completed our work on the Company's 2007 financial
statements, these negotiations are at a critical juncture. Although we
cannot provide any assurance that these negotiations will be successful, we
believe that delaying the filing of our Form 10-K will best serve the
interests of the Company at this stage in the process."
Triad Guaranty Inc.'s wholly owned subsidiary, Triad Guaranty Insurance
Corporation, is a mortgage insurer providing credit enhancement solutions
to its lender customers and the capital markets. This allows buyers to
achieve homeownership sooner, facilitates the sale of mortgage loans in the
secondary market and protects lenders from credit default-related expenses.
For more information, please visit the company's web site at
http://www.triadguaranty.com
This document may contain forward-looking statements which involve
various risks and uncertainties. Actual results may differ from any set
forth in the forward-looking statements. Attention is directed to the
discussion of risk and uncertainties as part of the Safe Harbor statement
under the Private Securities Litigation Reform Act of 1995 contained in the
Company's most recent annual report, Form 10-K and other reports filed with
the Securities and Exchange Commission.
SOURCE Triad Guaranty Inc.
 back to top
Related links:
http://www.triadguaranty.com
CONTACT:
Ken Jones, Senior Vice President and CFO of
Triad Guaranty Inc., +1-336-723-1282 ext. 1105 or kjones@tgic.com
|
