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Gold/Mining/Energy : Global Thermoelectric - SOFC Fuel cells (GLE:TSE)
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To: Brian Krenbrink who wrote (2794)7/26/1999 1:10:00 AM
From: blue_chip  Read Replies (2) of 6016
 
Can any one tell me what the requirements for a share split are? Does a company need shareholder approval? I was just thinking with the annual meeting coming up on September 9th and the company being required to send out the circular / proxy information /notice of the meeting 60 days before the meeting and if there was a requirement for shareholder approval of stock splits than perhaps we may see the Company coming out with something asking shareholders to pre-approve the company to split the stock. Lets say they asked us to approve up to a 10X split, it doesnt necessarily mean they would do that, it would just mean they could or would have approval to do a split up to 10x. Perhaps they would only split it 2-4 times, perhaps none at all, however if approval is required, the annual meeting would be the natural place to ask for the shareholders to vote on this. Please if someone could, please confirm whether shareholders approval is required for splits.

Also, the BOD is elected at the annual meeting, I'd imagine if there were to be any changes we would hear about it soon. I'd also think we may hear about stock options being granted before the bulk of the pending news we are all anticipating would be released. I looked through the past releases, if anyone knows when GLE last granted options to employee's let me know. I'd imagine with all the hiring they would have to be doing for the fuel cell and the generator division they must have many new employee's that they most likely would be granting stock options do, company's usually grant the options before major news, not after. In any event I also think the financial's are do out soon as well.

Chip
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