Consumers Financial Corporation to Hold Special Meeting of Shareholders.Business Editors CAMP HILL, Pa.--(BUSINESS WIRE)--Dec. 17, 2002 Consumers Financial Corporation (the "Company") announced today that proxy solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual materials were mailed on December 13, 2002 to the Company's shareholders of record as of November 25, 2002 in connection with a special meeting of shareholders (the "Special Meeting") to be held on January 9, 2003. The Special Meeting will be held at the Company's office at 132 Spruce spruce, any plant of the genus Picea, evergreen trees or shrubs of the family Pinaceae (pine family) widely distributed in the Northern Hemisphere. The needles are angular in cross section, rather than flattened as in the related hemlocks and firs. Street, Cedarhurst, New York Cedarhurst is a village in Nassau County, on the South Shore of Long Island, New York in the USA. The population was 6,164 at the United States Census, 2000. The village is named after a grove a trees that once stood at the post office. . At the Special Meeting, holders of the Company's common stock will be asked to consider and vote upon a proposal to reinstate To restore to a condition that has terminated or been lost; to reestablish. To reinstate a case, for example, means to restore it to the same position it had before dismissal. the voting rights Voting rights The right to vote on matters that are put to a vote of security holders. For example the right to vote for directors. voting rights The type of voting and the amount of control held by the owners of a class of stock. of the 2,700,000 common shares owned by CFC CFC See: Controlled foreign corporation Partners, Ltd. ("CFC Partners"). Such shares were issued to CFC Partners on August 28, 2002 and represent a majority of the total issued and outstanding common shares of the Company. Under Section 2564 of the Pennsylvania Business Corporation Law, as amended, the shares issued to CFC Partners are not entitled to vote on any matters unless and until the voting rights of such shares have been reinstated by the holders of a majority of the outstanding common shares of the Company, excluding the shares owned by CFC Partners. If the proposal to reinstate the voting rights of the shares owned by CFC Partners is not approved, CFC Partners may ask the Company's Board of Directors to consider liquidating and dissolving the Company, since CFC Partners could not be assured that its future plans for the Company, including merger and acquisition transactions, would be approved, when necessary, by the remaining common shareholders. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion