Voting Trust Agreement

Voting Trust Agreement

A contract creating a trust through common shareholders in order to combine their votes at the annual meeting. Each shareholder transfers his/her voting rights to the trust while keeping title to the dividends and other rights associated with the stock. The voting trust receives legal title to the common stock and issues voting trust certificates, representing the other rights of common stock, to shareholders. The voting trust uses these shares to vote as a block. This gives participating shareholders a degree of control over the company they would not otherwise have. Generally speaking, a voting trust can only exist for a certain period of time, depending on the laws of the state in which the company is incorporated.
References in periodicals archive ?
CIBL intends to acquire majority voting control of ICTC by entering into a voting trust agreement with certain stockholders controlled directly or indirectly by Mr.
The voting trust agreement, which is subject to approval from US Federal Reserve Board, will place all Allied Bank's shares of Oceanic Holding (BVI) Limited in a trust for their eventual sale to other investors, said Allied Bank.
In addition, the physicians agreed to the creation of a voting trust agreement whereby Dr.
A TCP approved by the CSA shall be developed and implemented by those companies cleared under a voting trust agreement, proxy agreement, special security agreement, and security control agreement or when otherwise deemed appropriate by the CSA.
Of concern are potential changes in the ownership structure as Levi's voting trust agreement expires on April 15, 2011.
CIBL also intends to acquire majority voting control of ICTC by entering into a voting trust agreement with certain stockholders controlled directly or indirectly by Mario J.
Based on current capitalization information and the impact of the anticipated voting trust agreement, the parties anticipate that legacy Inovio capital stockholders and legacy VGX common stockholders will share voting power over the combined company in the ratio of approximately 51.
T]he lengths which MAK has gone (including the commitment to not seek control of the board and the voting trust agreement removing its potential blocking interest with respect to strategic and non-strategic transactions) appear to be in the best interests to shareholders.
Mead has agreed to sell two million shares beneficially owned by him as trustee under a voting trust agreement dated November 1, 1999.
In addition, certain members or former members of Cossette's management, namely Claude Lessard, Pierre Delagrave, Fran ois Duffar and Georges Morin, are, under the rights plan, also considered to own more than 20% of the outstanding shares of Cossettte (as a single class), due to their actual shareholding in the Company and to the Shareholders and Voting Trust Agreement dated June 18, 1999.
c) FNX and Dynatec will enter into a voting trust agreement with a term of three years pursuant to which votes attached to the Common Shares held by Dynatec will be voted in line with FNX board recommendations on various fundamental changes and initiatives (including, among other matters, mergers, acquisitions and the nomination of directors to the FNX board), such agreement ceasing to be in effect should Dynatec's ownership stake in FNX decline below 10% on a fully-diluted basis;
The Trust Agreement and the Shareholders' and Voting Trust Agreement between the holders of multiple voting shares will terminate with respect to Mr.