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Collection: Original Records > Articles of Incorporation

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

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and (b) of this article, each shareholder desiring additional shares shall be entitled to purchase that fraction of the shares not subscribed to that is equal to the number of his shares having purchase rights under this article, divided by the total number of shares having purchase rights held by all shareholders desiring to purchase these remaining shares, (d) Unless otherwise specifically siecieed in a shareholder's notice of intent to purchase shares given under clause (a) of this article, that notice shall also be considered an offer to purchase the number of shares to which he is entitled under clauses (b) and (c), not to exceed, however, the number of shares specified in his notice of intent to purchase, (e) Each offer, notice, or statement provided for in this article shall be considered given when it is personally delivered to the person to whom it is to be given, or it is properly addressed and deposited in the United States mail or delivered to a telegraph office with all postage or other chages fully prepaid. (f) If less than all shares specified in the offer to the secretary are subscribed to under clauses (a), (b) and (c) of this article within the time periods specified for exercising the respective rights to purchase shares granted under this article, the offering shareholder shall not be required to accept any of the offers made under this article by the corporation or its shareholders, and may dispose of all the shares specified in his offer to the Secretary to any person or persons, provided that he shall not sell or transfer these shares at a lowor price or on more favorable terms than those specified in the offer to the secretary.