BBX Capital Corporation Announces Shareholder Approval of Spin-Off of BBX Capital Florida LLC and Corporate Name Change - Seite 2

Subject to consummation of the spin-off and final approval by FINRA, New BBX Capital’s Class A Common Stock and Class B Common Stock will trade on the OTCQX following the spin-off, with trading to commence on a date to be determined by FINRA. New BBX Capital anticipates that the ticker symbol for its Class A Common Stock will be “BBXIA” and that the ticker symbol for its Class B Common Stock “BBXIB”.

Shareholder Approval of Company Name Change to Bluegreen Vacations Holding Corporation

At the special meeting, the Company’s shareholders also approved a change in the Company’s name from BBX Capital Corporation to Bluegreen Vacations Holding Corporation in connection with the spin-off. The name change reflects the fact that the Company will be a holding company for Bluegreen Vacations Corporation (“Bluegreen”) following the spin-off, with New BBX Capital holding all of the Company’s other businesses and investments. Bluegreen is a leading vacation ownership company that markets and sells vacation ownership interests and manages resorts in popular leisure and urban destinations. Bluegreen’s common stock is listed on the NYSE (NYSE: BXG). The Company currently holds approximately 93% of Bluegreen’s outstanding common stock. The Company’s name change has not yet become effective. The Company’s Class A Common Stock will continue to trade under its current ticker symbol, “BBX,” and the Company’s Class B Common Stock will continue to trade under its current ticker symbol, “BBXTB,” in each case, through the close of trading on September 30, 2020. It is expected that the Company will begin trading under its new name and new ticker symbols, which will be “BVH” for the Company’s Class A Common Stock and anticipates that the ticker symbol for its Class B Common Stock will be “BVHBB”, commencing with the opening of trading on October 1, 2020.

Adoption of Shareholder Rights Plan by New BBX Capital

New BBX Capital previously disclosed its intention to adopt a shareholders rights plan and the expected terms of the plan in its Registration Statement on Form 10 filed with the SEC. On September 25, 2020, New BBX Capital adopted the rights plan in contemplation of the expected closing of the spin-off on September 30, 2020. The terms of New BBX Capital’s rights plan are substantially similar to those contained in the rights plan adopted by the Company during June 2020. Neither the adoption of the rights plan by New BBX Capital or consummation on the spin-off will impact the effectiveness of the Company’s rights plan, which will continue in full force and effect in accordance with its terms.