Brooke Corporation (BXXX) announced that shareholders of Brooke Capital have approved the proposal that allows for the merger of Brooke Corporation’s wholly-owned subsidiary, Brooke Franchise Corporation, into Brooke Capital Corporation.

The merger of Brooke Franchise into Brooke Capital is distinctly advantageous, as Brooke Corporation moves from operating a portfolio of privately-held businesses to a company that holds investments in publicly-traded companies as well. During the next fiscal period, Brooke Credit and Brooke Capital will conduct their own quarterly conference calls with the investment community.

Keith Bouchey, Brooke Corporation’s President and CEO, commented “The third quarter represented one of the most exciting periods of time in our company’s history. The process of Brooke Credit and Brooke Capital becoming publicly-traded companies during the third quarter required substantial managerial attention and resources; however, we believe that Brooke Corporation investors will benefit from the enhanced industry focus and increased accountability provided by this separation.”

He added, “We also believe our investors will benefit from the additional flexibility that allows Brooke Corporation to sell part or all of its interest in one subsidiary to reinvest in another business activity or for other corporate purposes. Finally, the Brooke Credit merger allows Brooke Corporation shareholders to diversify their exposure to the credit markets and share the risk related to recent credit market uncertainties.”

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