NOTICE OF ANNUAL MEETING OF SHAREHOLDERS May 18, 1999 (from the 3/15/99 filing)
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The Annual Meeting of Shareholders of Globalstar Telecommunications Limited
will be held in the Grand Salon, The Essex House, 160 Central Park South, New
York, New York 10019, at 9:30 A.M., on Tuesday, May 18, 1999 for the purpose of:
1. Electing to the Board nine directors whose terms have expired;
2. Acting upon a proposal to increase the number of authorized preference
shares, par value $.01 per share, of the Company (the "Preferred Stock")
from 10,000,000 to 20,000,000;
3. Acting upon a proposal to amend the Company's 1994 Stock Option Plan to
increase the number of common shares, $1.00 par value, of the Company
(the "Common Stock") available for issuance from 2,500,000 to 5,000,000;
4. Acting upon a proposal to ratify the appointment of Deloitte & Touche
LLP as independent auditors for the year ending December 31, 1999; and
5. Transacting any other business which may properly come before the
meeting.
The Board of Directors has fixed the close of business on March 31, 1999 as
the date for determining shareholders of record entitled to receive notice of,
and to vote at, the Annual Meeting.
All shareholders are cordially invited to attend. Those who do not expect
to be present are requested to date, sign and mail the enclosed proxy as
promptly as possible in the enclosed postage prepaid envelope.
By Order of the Board of Directors
/s/ Bernard L. Schwartz
BERNARD L. SCHWARTZ
Chairman of the Board of Directors
April , 1999
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