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Collection: Original Records > Articles of Incorporation

Kavros Enterprises (AI-K034)(1976) (8 pages)

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Pre-emptive Rights; Six: Each shareholder or subscriber to shares of this corporation shall be entitled to full preemptive or preferential rights, as such rights have been heretofore defined at common law, to purchase and/or subscribe for the number of any shares, option rights or securities having conversion or option rights with respect to shares of this corporation which may be heretofore authorized and issued for money, which bear the same ratio to the number of shares, option rights, or securities then proposed to be issued as the number of shares subscribed or outstanding immediately prior to such additional issue. Restrictions on Sale and Transfer of Shares: Seven: Before any shareholder can sell or transfer his stock of the corporation, he shall first offer the stock to the corporation and then to the common shareholders in the following manner: (a) The offering shareholder shall give a written offer, by mailing, personally delivering, or telegraphing it to the secretary of the corporation, stating the number and class of shares to be sold or transferred and the price, terms, and conditions of the proposed sale or transfer. The corporation shall then have the right to purchase all or any whole number of the shares offered, at the price and on the terms and conditions SECA in the offer, by giving written notice to the offering shareholder of its election to purchase shares and of the number of shares THE intends to purchase. This notice shall be given by mailing, personally delivering, or telegraphing it within thirty (30) =9)-.