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CAAS » Topics » The Companys management controls approximately 92.4% of its outstanding common stock and may have conflicts of interest with its minority stockholders.This excerpt taken from the CAAS 10-K filed Mar 31, 2006. The Company’s management controls approximately 92.4% of its outstanding common stock and may have conflicts of interest with its minority stockholders. Members of the Company’s management beneficially own approximately 92.4% of the outstanding shares of the Company’s common stock. As a result, these majority stockholders have control over decisions to enter into any corporate transaction and have the ability to prevent any transaction that requires the approval of stockholders, which could result in the approval of transactions that might not maximize stockholders’ value. Additionally, these stockholders control the election of members of the Company’s board, have the ability to appoint new members to the Company’s management team and control the outcome of matters submitted to a vote of the holders of the Company’s common stock. The interests of these majority stockholders may at times conflict with the interests of the Company’s other stockholders. |
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