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Collection: Original Records > Articles of Incorporation

Grass Valley Products Co (AI-G190)(1954) (10 pages)

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Name of Subscriber: Number of Shares: Buford B. Speed, & C. Ray Crenshaw, 9 Phil W. Crenshaw, 8 Robert L. Ross, Jr., 25 John W. Smith, 25 NINTH: That the shareholders of this corporation are hereby granted preemptive rights to subscribe to any or all issues of shares, bonds, or other securities of this corporation which may be issued subsequent to the issue of the 75 shares aforesaid, in the manner following, to wit: Each shareholder shall be entitled to subscribe for the percentage of such future issues as his shares bear to the total number of shares then issued and outstanding. Upon any action being taken to provide for any such subsequent issue, the Secretary shall mail to each shareholder, at his last address as shown by the books and records of said corporation, a notice setting forth the number of shares, bonds or other securities to be issued, and the number thereof to which he is entitled to subscribe, with a notice that unless he shall deliver to the Secretary, within 60 days from the date of such notice, a properly Signed subscription for such additional shares, bonds or other securitiss, accompanicd by his check for the purchase price thereof, he shall forfeit his right so to subscribe. In the event any shareholder or shareholders shall forfeit his or their rights to subscribe as aforesaid, all shares, bonds and other securities as to which such subscription rights shall be forfeited as aforesaid, shall be offered for sale in similar manner to the other shareholders who shall have subscribed pursuant to such notice, but in proportion to the shares held by each as compared with the total number of shares held by all such subscribing shareholders; and this procedure shall be followed and repeated until all such shares, bonds and other securities shall have been subscribed for by shareholders of this corporation, (69.