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Corporation, and they sha11 hold office until their successors
are elected and qualified.
ARTICLB V
~ rlan~er of CoAVerting Shares
The manner of converting or otherwrise dealing with the
stock of the Constituent Corporations upon the Merger becaoing
effective shall be as follows:
A. Upon the Merger becoming effective, the iesued and
outstanding shares of the capital stock of the ;ierging Corporation,
Mortgage Canpany, consisting of 415,540 shares of canmon stock and
. ~ e
4,147 shares of preferred stock, shall be and become forthwith exchanged
for an aggregate of 127 ,,~27 shares of the Gommon Stock of Southeast,
subject to the terms and conditions of that certain ~lgreement of
Proposed M~erger and Plan of Reorganization executed bq the Constituent
Corporations and the Mprtgage Company Stockholders and dated October
29, 1970
B. Upoa the Merger becoming effective, each and every
share of capital stock of the Merging Corporation, and ~he certificates
representing tr.~ same, shall be deemed to have been cancelled
~ and shall thereafter be of no force and effect.
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i ~Tici.E vi
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~ Hiscellaneous Pravision
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= The Merger shall become effective upon the filing of ~
~ Chis Merger Agreement in the Office of the Secretary of State of
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the State of Florida, as required by law. t
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~ The above and foregoing Merger Agreement having been
~ adopted by the directors of esch of the Constituent Corporations
r named in said Agreement, and having been adopted and appiroved
~ by the stockholders of the Merging Corporation in accordance ~rith
~ the lavs of Florida, and duly certified as required by law, the
~ President or Vice President and Secretary, or Assistant Secretary
~ of each of said Constituent Corporations do now hereby sign and
execute this Herger Agreement as of the date first written abave,
~ under the corporate seals of their respective corporations as
the respective act, deed and agreement of each of said Constituent
~ Corporations, and each of said Constituent Corporations has
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~ -4- ao~ 192 2279
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