Item 5.07 Submission of Matters to a Vote of Security Holders.
On October 16, 2015, the Company held a Special Meeting of Shareholders at which the Company’s shareholders voted on a number of proposals which were described in greater detail in the Company’s definitive proxy materials filed with the Securities and Exchange Commission on August 25, 2015. Of the 8,563,090 shares of common stock outstanding as of the record date of August 18, 2015, a total of 5,833,023 shares were represented in person or by proxy at the meeting. Voting results were as follows:
Proposal 1. Increase in Authorized Common Stock
The Company’s shareholders authorized the Company to amend the Company’s Certificate of Incorporation to increase the authorized shares of common stock from 150 million to 500 million as set forth below.
Votes For Votes Against Abstentions Broker Non-Votes
How does dilution increase the value of a stock?- It does not!
the stock market does not need a "reason" It's like asking why would it be sunny one day and cloudy the next.
They changed the date of the shareholder meeting as a result. I assume they are hoping to get it over a dollar for 10 days to avoid the need for a R/S. Same could happen with DRYS.
price and volume appreciation always precedes public disclosure of news- ALWAYS!
plenty of companies do well after reverse splits. It's not dilution. Just reduces the outstanding shares, the float and often allows for easier price appreciation.
my first thought is a vote on a reverse split. We may not need it, if we can get back over a dollar
What are some possible scenarios- good or bad?
Finally, another important question for tanker owners, is which tanker segments will likely benefit from U.S. crude exports and which ones will not? According to Poten, “once exports start flowing, Aframax crude tankers will be the initial beneficiaries. If production continues to increase and pricing is favorable, Suezmaxes and VLCCs may come into the mix (which would open up Asian markets). The impact on product carriers will depend very much on the relative competitiveness of the U.S. Gulf refiners. While the feedstock pricing advantage will likely diminish, refiners still have access to cheap gas and remain close to key markets in Europe and Latin America.
Get ready for a monster rally
Don't see any news.
It has been announced that they will be delisted from the Nasdaq on Dec. 30 and trade on the greys. skull and crossbones.
New to this stock. Please elaborate on the re-fi.