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Microcap & Penny Stocks : ROTI - Harvest Restaurant Group Inc
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To: The Street who wrote (1117)1/11/1999 9:02:00 PM
From: Edward Mamula  Read Replies (1) of 1702
 
From the proxy:

Approval of the Agreement and ratification of the Company's independent auditors requires the affirmative vote of the holders of a majority of the Company's issued and outstanding shares of Common Stock present and entitled to vote at the Meeting. Approval of each of the amendments to the Company's Articles of Incorporation requires the affirmative vote of two-thirds of the Company's issued and outstanding shares of Common Stock. Directors will be elected by a plurality of the shares present and entitled to vote at the Meeting. The presence in person or by proxy of shareholders owning a majority of the issued and outstanding shares of the Common Stock constitutes a quorum for the Meeting.
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There is no reason for anyone to vote no on the merger; if insiders are accumulating large positions, perhaps it's because they really need a 2/3 affirmative vote to increase the number of authorized shares and change the company's name, etc.

Or, it could be that people like you and me have been scooping up shares in the past few weeks. It's probably a little of both. At any rate, the party doesn't start until this merger closes and the new management team is in place, IMO.
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