EXHIBIT 2.1
AGREEMENT AND PLAN OF REORGANIZATION
BY AND BETWEEN
SOUTHWEST SECURITIES GROUP, INC.
DALLAS, TEXAS
AND
ASBI HOLDINGS, INC.
ARLINGTON, TEXAS
Dated as of August 10, 1999
TABLE OF CONTENTS
ARTICLE I.ACQUISITION OF ASBI BY SWS............................................................. 2
SECTION 1.01 Merger of Newco with and into ASBI............................................ 2
SECTION 1.02 Effects of the Merger......................................................... 2
SECTION 1.03 Articles of Incorporation and Bylaws.......................................... 2
SECTION 1.04 Directors and Officers........................................................ 2
SECTION 1.05 Conversion of the ASBI Common Stock........................................... 2
SECTION 1.06 ASBI Dissenting Shares........................................................ 4
SECTION 1.07 SWS Common Stock.............................................................. 4
SECTION 1.08 ASBI Shareholders' Meeting.................................................... 4
SECTION 1.09 SWS Shareholders' Meeting..................................................... 5
SECTION 1.10 Exchange of Certificates...................................................... 5
SECTION 1.11 Rights of Former ASBI Shareholders............................................ 6
SECTION 1.12 Piggyback Registration........................................................ 6
SECTION 1.13 Escrow of Shares.............................................................. 7
ARTICLE II.THE CLOSING AND THE CLOSING DATE...................................................... 8
SECTION 2.01 Time and Place of the Closing and Closing Date................................ 8
SECTION 2.02 Effective Time................................................................ 8
SECTION 2.03 Actions to be Taken at the