73), the preferred
means were stronger than the actual means, although again not to any meaningful degree.
In either case, the preferred
share issuer would forgo interest deductions in exchange for a reduced "interest rate" paid in the form of a fixed return on preferred
shares is as easy as buying ordinary shares.
Study legislation to target abusive freeze transactions such as manipulation of investment instruments, lapsing rights, unrealistic buy-sell agreements and valuation of preferred
stock upon a subsequent gift of the preferred
stock, or death of the preferred
stockholder, inconsistent with the valuation of the preferred
stock at the time of the freeze.
Fitch has assigned the Preferred
HITS Class D equity treatment (75% equity content).
Section 351(g)(2)(C) sets forth additional exceptions for disregarding certain rights or obligations of purchase or redemption in determining whether preferred
stock is considered NQPS.
The EITF considered the following situation: An employer issues convertible preferred
stock to an ESOP.
3689 per share representing the dividend payment originally due November 15, 2006, was declared on the outstanding Series C Preferred
Stock, payable February 15, 2007, to shareholders of record at the close of business on February 5, 2007.
allow the Company to acquire shares of its common stock for a period of five years from the date of completion of the transaction, without the approval of the holders of the Series 2 Preferred
, notwithstanding that accrued and unpaid dividends may exist with respect to the Series 2 Preferred
20% Tax Advantaged Series B Cumulative Preferred
Stock on June 26, 2006 at the redemption price of $25.
Holders who hold shares of Preferred
Stock through a broker should contact their broker with regard to the redemption process because their shares will be redeemed in accordance with the broker's and DTCC's procedures.
The holders of the Series 2 Preferred
that are parties to the Exchange Agreements separately solicited LSB in connection with the exchange, and each Exchange Agreement was negotiated with the holders.
Given the purchase price proposed by the Offering Group, the terms of certain agreements concluded with preferred
stockholders as described later herein, and present management estimates of certain costs and liability settlements, holders of the Company's common stock would likely receive approximately $1.
NEW YORK -- The Board of Trustees (the "Board") of Charter Mac Equity Issuer Trust, a wholly-owned subsidiary of CharterMac (NYSE:CHC), has declared a dividend of $33,125 per share on its 6 5/8% Series A Cumulative Preferred
Shares ("Series A Preferred
DENVER -- QualMark Corporation (OTCBB: QMRK), a world leader in designing, manufacturing and marketing HALT (Highly Accelerated Life Testing), HASS (Highly Accelerated Stress Screening) and electro-dynamic systems, today announced the conversion of all of the outstanding Series C preferred
shares into common shares, which eliminates all outstanding preferred
stock on the QualMark balance sheet.