HomeMy WebLinkAbout2426 •
FOURTH: No amendment to the charter of the
surviving corporation is to be effected as part of the
Merger.
FIFTH: The Trust has unlimited authorization to
issue shares of beneficial interest, $1.00 par value per
share. The total nuiaber of shares of stock of all classes
which the Corporation has authority to issue is twenty
million (20,000,000) shares divided into (i) ten million
(10,000,000) shares of Common Stock, $1.00 par value per
share, and (ii) ten million (10,000,000) shares of Preferred
Stock, $.10 par value per share, for an aggregate par value
of all the shares of all classes of stock of eleven trillion
dollars ($11,000,000).
SIXTH: The manner and basis of converting or
exchanging issued shares of beneficial interest of the Trust
into shares of Common Stock of the Corporation shall be as
follows:
(a) Upon the effective date of the Merger,
and without any action on the part of the holder thereof,
each outstanding share of beneficial interest of the Trust
shall be converted into one share of Common Stock, $1.00 par
value, of the Corporation.
(b) On ar~d after the effective date of the
Merger, all of the outstanding certificates which prior to
such date represented shares of beneficial interest of the
2 : 8~,~323 ~~~2~.~