The request proposes increasing the number of authorized shares
of common stock, no par value, by 17 million shares from 25 million to 42 million shares, during the Company's annual meeting of shareholders on May 7, 2010.
Article IV of the Company's Articles of Incorporation will be amended to decrease the number of authorized shares
from 5,000,000 to 4,000,000 shares.
The Company listened to the concerns of its shareholders regarding the Proposal and, based on their input, the Company has decided to amend the Proposal by removing the proposed increase in the number of authorized shares
of preferred stock.
At the special meeting, shareholders will vote on an amendment to Park's restated certificate of incorporation to increase the number of authorized shares
of common stock from 30,000,000 to 60,000,000.
As a result of the stockholder approval to increase the number of authorized shares
of common stock, the warrants to purchase shares of Citi common stock issued on July 23, 2009 to the U.
Recommended increasing the number of authorized shares
of GE stock
Robert Corr, President of RushNet, stated: "Unfortunately, the weak share price has left us no alternative but to increase our total authorized shares
to 12 Billion.
The purpose of the increase in authorized shares
is to provide increased flexibility for a variety of possible transactions, including stock splits or dividends, acquisitions, establishing new collaborations or other strategic relationships and securing additional financing for company operations.
in order to continue the consideration of the proposal to amend the company's certificate of incorporation to increase the number of authorized shares
of preferred stock.
The purpose of the special meeting is to seek stockholder approval to increase the number of its authorized shares
of common stock.
NASDAQ:GROW) today announced that its shareholders have approved an increase in authorized shares
that enables the company to effect the two-for-one stock split of the Company's outstanding shares of Class A Common Stock and Class C Common Stock announced on November 8, 2006.
The Company also announced that at the special meeting the stockholders approved an increase in amount of authorized shares
of Common Stock from 2,500,000 to 10,000,000, on a post-split basis.