Tuesday, November 21, 2017 6:43:54 AM
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****** This has an impact on the OBS stock ******
Item 3.03.
Material Modifications to Rights of Security Holders.
The Company has undertaken that, in the event that any distribution on the Preferred Securities is not paid in full, it will not:
(a)
declare or pay any dividend on its shares of common stock; or
(b)
repurchase or redeem any of its non-cumulative preferred stock or common stock at its option,
until the earlier of (i) such time as distributions on the Preferred Securities have been paid in full for one year and (ii) such time as an amount out of the proceeds of an issue and sale of preferred stock and/or common stock of the Company equal to the amount of distributions not paid on the Preferred Securities is paid to the holders of the Preferred Securities."
https://www.sec.gov/Archives/edgar/data/806085/000080608506000039/f06-02_248k.htm
Good stuff fritz603!
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