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Pruchnik

06/17/09 1:47 PM

#29001 RE: was SaltLife #28996

From the SEC website

"A company’s board of directors may declare a reverse stock split without shareholder approval. Although the SEC has authority over a broad range of corporate activity, state corporate law and a company’s articles of incorporation and by-laws govern reverse stock splits."

From an earlier post by Ryan

" I have read through Delaware corporate law provisions. The way I understand the Delaware provisions is that they can not do a R/S without a majority vote. "

-Pruchnik


shululu

06/17/09 2:10 PM

#29003 RE: was SaltLife #28996

have someone else tell me they do not need our vote to do the split.