Thursday, October 09, 2008 8:10:33 PM
First, this is not an ASM at all. It is a special shareholders meeting. They are asking for our vote because they are required to. But we all know YA will cast enough votes to make this pass.
Also, was there any explantion as to why the Board was recommending that we reduce the par value? YA does not need this to be able to to acquire common stock through the conversion of the convertible preferred.
The only thing that I have been able to come up with is that it may well enable the board to do a 1/100 RS, without submitting it for shareholder approval.
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