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Saturday, September 26, 2020 11:13:37 AM
So, not to marginalize, mitigate, minimize, or misconstrue the quote, here is it in its entirety as provided. Please note the words that clearly and convincingly confirm the veracity of my argument.
Quote:
OKLAHOMA CITY, April 13, 2020 /PRNewswire/ -- Chesapeake Energy Corporation (NYSE: CHK) (the "Company") today announced that, at a special meeting of shareholders of the Company held on April 13, 2020, its shareholders voted to approve: (i) a proposal authorizing the Board of Directors of the Company to effect a reverse stock split of the Company's issued and outstanding common stock at a ratio ranging from 1-for-50 (1:50) to 1-for-200 (1:200) and (ii) a proposal to reduce the total number of authorized shares of the Company's common stock as determined by a formula based on two-thirds of the reverse stock split ratio.
It was a highly customized approach, as the prorated formula should make clear.
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