EVRO shareholders approve name change and increase in authorized shares.
LAKELAND, Fla.--(BUSINESS WIRE)--Oct. 15, 1996--EVRO Corp. ("EVRO" or the "company") (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :EVRO) announced Tuesday that its shareholders approved a name change for the company to "Channel America Broadcasting Inc." and approved an increase in the company's authorized common and preferred shares Preferred shares
Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. at the company's special shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. held Friday, Oct. 11, 1996.
The company's authorized common stock was increased from 2,500,000 to 100 million shares and its authorized preferred stock was increased from 1,250,000 to 25 million shares, each with a par value of $0.001. The increase in authorized shares will give the company added flexibility to act in the future with respect to raising equity capital to finance the implementation of the company's business plan, to consummate the acquisitions of The Sports & Shopping Network Inc. and Channel America Television Network Inc., and to facilitate other asset purchases or strategic acquisitions.
The shareholders also reelected Thomas L. Jensen, Stephen H. Cohen cohen
(Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. , D. Jerry Diamond, and Max P. Cawal as directors and approved the purchase of the fractional shares resulting from the reverse stock split of Jan. 26, 1995. Approximately 93% of the common shares outstanding and approximately 91% of the preferred shares outstanding were voted at the meeting, with all five proposals passing.
The board of directors held a meeting after the shareholders' meeting and appois, pocket watches, and jewelry for sale to home shoppers. It is anticipated that CATV (Community Antenna TV) The original name for cable TV. It used a single antenna at the highest location in the community in order to deliver a quality signal to homes in areas with hilly terrain or other interference. will resume its entertainment programming during the fourth quarter of 1996 offering a choice between shopping and entertainment broadcasting to prospective affiliates, on a 24 hour per day basis.
CONTACT: EVRO Corp., Lakeland
Thomas L. Jensen, Chairman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , and President