Old Line 8-K
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Current
Report Pursuant to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
Date
of
Report (Date of Earliest Event Reported): September
16, 2005
Old
Line Bancshares, Inc.
(Exact
Name of Registrant as Specified in its Charter)
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Maryland
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000-50345
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20-0154352
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(State
of Incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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2995
Crain Highway
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Waldorf,
Maryland
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20601
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant’s
Telephone Number, Including Area Code: 301-645-0333
N/A
(Former
name or former address, if changed since last report)
Check
the
appropriate box below if the Form 8-k filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
____ Written
communication pursuant to Rule 425 under the Securities Act
(17
CFR
230.425)
____ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act
(17
CRF
240.14a-12)
____ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17
SFR
240.14d-2 (b))
____ Pre-commencement
communications pursuant to Rule 13e-4 (c) under the Exchange Act
(17
CFR
240.13e- 4 (c))
ITEM
1.01. ENTRY
INTO A MATERIAL DEFINITIVE AGREEMENT
On
September 16, 2005, Old Line Bancshares, Inc.’s (the “Registrant”) approved an
additional $182,500 capital contribution to Pointer Ridge Office Investment,
LLC
(“Pointer Ridge”). The Registrant’s total capital contribution after the
injection of this $182,500 capital contribution is approximately $732,500.
On
July
22, 2004, Old Line Bancshares, Inc. executed an Operating Agreement as a member
with unaffiliated parties, Lucente Enterprises, Inc., and Chesapeake Custom
Homes, LLC, as members, and Chesapeake Pointer Ridge Manager, LLC, as manager,
to establish Pointer Ridge Office Investment, LLC (“Pointer Ridge”). After the
injection of the additional capital, the members’ ownership of Pointer Ridge
remains as follows:
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Unaffiliated
parties
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25.0%
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Lucente
Enterprises, Inc.
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12.5%
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Chesapeake
Custom Homes, LLC
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12.5%
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Old
Line Bancshares, Inc.
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50.0%
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Mr.
Frank
Lucente, Vice Chairman and a member of the Board of Directors of Old Line
Bancshares, Inc., is the President and majority owner of Lucente Enterprises,
Inc. Lucente Enterprises, Inc. is the manager and majority member of Chesapeake
Custom Homes, LLC and Chesapeake Pointer Ridge Manager, LLC.
The
purpose of Pointer Ridge is to acquire, own, hold for profit, sell, assign,
transfer, operate, lease, develop, mortgage, refinance, pledge and otherwise
deal with real property located at the intersection of Pointer Ridge Road and
Route 301 in Bowie, Maryland. Pointer Ridge has acquired the property and plans
to construct a commercial office building containing approximately 40,000 square
feet. Old Line Bancshares, Inc. plans to lease approximately 50% of this
building for its main office (moving its existing main office from Waldorf,
Maryland) and a branch of Old Line Bank. On August 26, 2004, Old Line
Bancshares, Inc. transferred its initial $550,000 capital contribution to
Pointer Ridge.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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OLD
LINE BANCSHARES, INC.
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September
22, 2005
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By:
/s/
James W. Cornelsen
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James
W. Cornelsen, President
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