Orrstown and Codorus Valley issue supplemental proxy disclosures in response to shareholder demands

ORRSTOWN FINANCIAL SERVICES INC

ORRF and CVLY received 11 demand letters alleging proxy omissions; companies deny claims but release supplemental disclosures.
Supplemental disclosures detail revised selected companies analyses and DCF assumptions from Raymond James and KBW.
Merger consideration unchanged; special shareholder meetings remain scheduled for May 30, 2024.
Pro forma analysis: 2024 EPS accretion 21.3%, 2025 EPS accretion 46.1%, TBV dilution 20.9% (ORRF perspective).

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