SPPR » Topics » AND PREFERRED STOCK

This excerpt taken from the SPPR DEF 14A filed Apr 11, 2007.

AND PREFERRED STOCK

The Board of Directors has approved, and recommends that shareholders approve an amendment to the Company’s articles of incorporation that would increase the number of authorized shares of common stock from 25 million to 100 million shares and the number of authorized shares of preferred stock from 10 million shares to 40 million shares. The proposed amendment would replace the first sentence in Article III of the articles of incorporation in its entirety to read as follows:

“The total number of shares of stock that the Corporation has authority to issue is 100 million shares of Common Stock, $0.01 par value per share, and 40 million shares of Preferred Stock, $.01 par value per share.”

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