Maine High Court Orders Halt to Maize Share Issuance.STAMFORD, Conn.--(BUSINESS WIRE)--April 10, 1995--American Maize-Products Co. (ASE-AZE) announced today that it has received the following Order issued by the Supreme Judicial Court of Maine: "Pursuant to plaintiffs' motions for an expedited appeal, and after conference with counsel and receipt of briefs, oral argument was heard on the merits on the merits adj. referring to a judgment, decision or ruling of a court based upon the facts presented in evidence and the law applied to that evidence. A judge decides a case "on the merits" when he/she bases the decision on the fundamental issues and considers of the appeals from the judgements of the Superior Court dated March 27, 1995 and March 31, 1995. A full opinion of the Court will issue in due course. In view of the demonstrated need for a prompt decision, however, the following order is entered effective at 3:00 p.m. on April 10, 1995: Appellees, their officers, agents, servants, employees and attorneys, and all persons in active concert or in participation are enjoined from enforcing the deadline of 5:00 p.m. on Monday, April 10, 1995 for Class B shareholders of American Maize-Products Company to exercise their preemptive rights to acquire additional Class B voting shares Voting Shares Shares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors. Notes: Different classes of shares, such as preferred stock, sometimes don't allow for voting rights. issued by American Maize-Products Company; and are enjoined from issuing any additional Class B voting shares of American Maize-Products Company pending issuance of the final opinion of the Court." The Order was issued in connection with the appeal by William Ziegler III, Chairman of the Board of American Maize, and First Fidelity Bank, co-trustee with Mr. Ziegler over certain Ziegler family trusts, denying preliminary injunctive relief injunctive relief n. a court-ordered act or prohibition against an act or condition which has been requested, and sometimes granted, in a petition to the court for an injunction. against the issuance of authorized but unissued shares of American Maize Class B common stock to Eridania Beghin-Say, S.A. Pursuant to a merger agreement signed with American Maize, Eridania commenced a tender offer on February 28, 1995 for all outstanding shares of American Maize common stock at a price of $40 per share. In connection with the merger agreement, the parties entered into a stock purchase agreement pursuant to which Eridania agreed to purchase, at a price of $40 per share, all authorized but unissued shares of American Maize Class B common stock (an aggregate of 757,943 shares) which remained available for purchase following the exercise by holders of the Class B common stock of preemptive rights. American Maize, based in Stamford, Conn., produces corn sweeteners and a variety of specialty food and industrial starches at plants in Hammond, Indiana Hammond (IPA: [ˈhæ.mənd]) is a city in Lake County, Indiana, United States. It is part of the Chicago metropolitan area. The population was 83,048 at the 2000 census. ; Decatur, Alabama and Dimmitt, Texas Dimmitt is a city in Castro County, Texas, United States. The population was 4,375 at the 2000 census. It is the county seat of Castro CountyGR6. Geography Dimmitt is located at (34.549052, -102. . The Company also produces cigars and smokeless tobacco smokeless tobacco, n chewing tobacco (leaves) or tobacco powder (snuff) that allows the nicotine to be absorbed through the mucous membrane of the oral cavity or digestive tract. It is related to a high risk of oral cancer. products at plants located in Jacksonville, Florida “Jacksonville” redirects here. For other uses, see Jacksonville (disambiguation). Jacksonville is the largest city in the state of Florida and the county seat of Duval County. and Wheeling, West Virginia Wheeling is a city in West Virginia, in the United States. Most of the city is in Ohio County, with a small part in Marshall County. It is the county seat of Ohio CountyGR6. . CONTACT: American Maize-Products Co. Edward P. Norris, 203/356-9000 |
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