First Montauk Adopts Shareholder Rights Plan
August 8, 2007 — Red Bank, NJ — First Montauk Financial Corp. (OTCBB: FMFK) announced today that its Board of Directors has adopted a shareholder rights plan and declared a dividend distribution of one preferred share purchase right on each outstanding share of First Montauk common stock. Each Right will entitle shareholders to buy one one-hundredth of a share of a new series of preferred stock called Series C Participating Cumulative Preferred Stock at an exercise price of $2.00.