First Place Financial Corp.(fka FPFCQ)

[jaxstraw]

Read it closely......

"On January 1, 2013, First Place Financial Corp., a Delaware Corporation (the "Company")

then.....

including all of the issued and outstanding shares of common stock of the Company's wholly-owned subsidiaries, First Place Bank and First Place Holdings, Inc.

The wholly-owned subsidiaries common stock is private and not listed on an exchange. Only FPFCQ is a public company.

It's really very simple.

'Stock' does not always refer to publicly traded shares available on an Exchange.

All large companies have a 'stock' share structure...but not all large companies make that share structure available to a public offering for common investors.

The shares are held by either initial investors/owners in the company, private entities that bought the private shares at a later date, or the parent company of a subsidiary.

It's a legal way of determining an ownership structure of a private company.

The way a parent company acquires a subsidiary is to control more than 50% of the voting rights of the private stock.

And First Place Bank is a private company....not a public company. It's stock was only divided among the Bank owners and First Place Financial Corp ( who had over 50% and all voting rights).

This is how private companies understand legally who owns what percentage of the entity.