Vestin Realty Mortgage I, Inc. Announces Results of its 2020 Annual Meeting of Stockholders

LAS VEGAS, Dec. 21, 2020 /PRNewswire/ -- Vestin Realty Mortgage I, Inc. VRTA announced today the voting results from its 2020 Annual Meeting of Stockholders, held on December 17 in Baltimore, Maryland. Approximately 63.2 percent of shares were voted, or 592,305 shares of 937,861 total shares outstanding.

Stockholders voted on two proposals, the first to elect Donovan Jacobs to serve as a director on the board of VRTA until the 2023 Annual Meeting of Stockholders, and until his successor is duly elected and qualifies. Daryl C. Idler Jr. continues to serve as an independent director, while Michael Shustek remains the executive officer.  In addition, Proposal 2 was the amendment to bylaws to expand the investment policy.

A total of 557,882 votes were cast in regard to proposal 1 at the annual meeting, representing approximately 59.5 percent of all shares. More than 94 percent voted for Donovan Jacobs, while approximately 6 percent withheld their vote.

With regard to Proposal 2, more than 94 percent of the 555,404 votes were in favor of the amendment, while approximately 6.2 percent either voted against or abstained.

The company also announced that it will continue to repurchase shares of its common stock.  During the year the company has repurchased approximately 19% of the outstanding shares.

About Vestin Realty Mortgage I, Inc.

Vestin Realty Mortgage I, Inc., formerly Vestin Fund I, LLC, invests in loans secured by real estate through deeds of trust or mortgages and as defined in our management agreement as mortgage assets.  In addition, we invest in, acquire, manage or sell real property and acquire entities involved in the ownership or management of real property.  We commenced operations in June 2001. Vestin Realty Mortgage I, Inc. is traded on the OTC pink sheets under the symbol "VRTA," with headquarters located in Las Vegas, Nevada. Please visit: http://vestinrealtymortgage1.com/.

This press release contains statements about the future expectations, beliefs, goals, plans or prospects of the management of Vestin Realty Mortgage I, Inc. These statements are based on current expectations, estimates, forecasts and projections and management assumptions about Vestin Realty Mortgage I, Inc. These statements constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words such as "expects," "believes," "estimates," "anticipates," "targets," "goals," "projects," "intends," "plans, "seeks," and variations of such words and similar expressions are intended to identify such forward-looking statements which are not statements of historical fact. These forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to assess. Vestin Realty Mortgage I, Inc. has no obligation to update such forward-looking statements. Actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements.

SOURCE Vestin Realty Mortgage I, Inc.