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the effective date of the Merger shall be deemed to be and
shall become options to purchase an equivalent number of
shares of Common Stock under the Plan of the Corporation at
the same option price.
(b) That number of shares of the
Corporation's Common Stock equal to the aggregate number of
the Trust's shares of beneficial interest reserved for
issuance upon conversion of the Trust's 6-3/48 Convertible
Subordinated Debentures and 78 Convertible Subordinated
Debentures shall be reserved by the Corporation.
f IN WITNESS WHEREOF, First Newport Realty Investors
( and First Newport Corporation, the parties to the Merger,
s
have caused these Articles of Merger to be signed in their
respective names and on their behalf by their respective
presidents and witnessed or attested by their respective
secretaries all as of the 31st day of October, 1979.
FIRST~NEWPOAT REALTY INVESTORS
By
ttest: bert Morq~, Presi ent
li~~~-..
J s A. Mercer, Jr., "
ecretary
.FIRST RT CORPORATION
rq:~P~
By/`/
~ Attest: obert Morga~", President
~~Ns ~nstrumait .s oxecutod ~r trustees or officers or
J es A. Mercer, Jr. , ~ t~oM ~ ~porc ftwup fnrestor, fn MMr npsc+
Secretary items " suM ' or 87? the srncutlon
hereof aq prrWs ~ tAst. for the pe~rment of any
dsim or the Perfamana d ~ obflQstlont hereunder.
5 resoR shah M hsd solegr b lf+e asses aid property
of tM trust and no shsreholdar, tn,s~se ar clflnr of
tfra trust shall be persensfy Babb tMrelot: RNerenee
GR ~~~bGE 2~v fs ~•d• to the aef.rstion d Tnuet Dibd lone 17.
BGOK 1~. ass arrNndm«rfs tMreto, copies of which have
Ines reeoed~d ie rw...ra........_