Cathay Merchant Group, Inc. Amends Bylaw to Reduce Quorum Requirement
25 May 2007 - 2:43AM
Business Wire
Cathay Merchant Group, Inc. (AMEX: CMQ) (the��Company�) � On May
22, 2007, the Board of Directors of the Company amended its bylaws
to reduce the Company�s quorum requirement, which requirement is
necessary to constitute a valid and duly called meeting of its
shareholders. Following the amendment, the Company�s quorum
requirement was reduced from shareholders holding at least 50% of
the issued and outstanding shares to shareholders holding at least
33.3% of the issued and outstanding shares. The Board of Directors
approved the reduction because it had found it exceedingly
difficult to satisfy its former quorum requirement. As the 2007
annual general meeting was adjourned because the Company did not
obtain the requisite quorum, the Company hopes that the reduction
will enable the Company to hold future shareholder meetings without
delay.
Cathay Merchant (AMEX:CMQ)
Historical Stock Chart
From May 2024 to Jun 2024
Cathay Merchant (AMEX:CMQ)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about Cathay Merchant Grp. (American Stock Exchange): 0 recent articles
More Cathay Merchant Group, Inc. News Articles