Ellington Credit Adopts Tax Asset Preservation Plan Designed to Protect Shareholder Value by Preserving the Availability of Its Net Operating Losses While Operating as a C-Corp
—Preserving shareholder value by adopting a Section 382 rights plan intended to protect potentially valuable tax assets—
—Plan would only remain in effect while the Company operates as taxable C-Corp, and would expire immediately upon the successful completion of the closed end fund/RIC conversion—
Ellington Credit Company ("Ellington Credit" or the "Company") (NYSE:EARN) announced today that it has adopted a shareholder rights plan designed to protect shareholder value by preserving the availability of the Company's net operating loss carryforwards ("NOLs") and other tax attributes under the Internal Revenue Code of 1986, as amended (the "IRC") (such plan, the "Tax Asset Preservation P
