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 ?
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.
this is an important difference between the two statutory rules); and vi) the corporation must be informed of the voting trust agreement but the two statutory models have different rules for this process (135).
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.
To achieve this, the foreign parent creates a special class of voting shares (usually supervoting preferred shares), all of which are held by a trustee pursuant to a voting trust agreement.
Of concern are potential changes in the ownership structure as Levi's voting trust agreement expires on April 15, 2011.
Gail Laule, an SBMEI shareholder, said Sharpe requested the presence of the policemen during the takeover to assure the 'peaceful enforcement of a court order,' which affirmed the revocation of the voting trust agreement that management had given to Tai.
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.
Laure said a local court ruling had affirmed the revocation of the voting trust agreement that was given to Tai which resulted in his removal as a company officer.
Mead has agreed to sell two million shares beneficially owned by him as trustee under a voting trust agreement dated November 1, 1999.
The US Fed approved in October last year a voting trust agreement, which allowed Allied Bank to place shares of Oceanic Holdings in a temporary trust.
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;