|
|
Article: American Stock Exchange Board of Governors Approves Demutualization Course of Action.
- Article from:
- PR Newswire
- Article date:
- March 23, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
NEW YORK, March 23 /PRNewswire/ -- The American Stock Exchange(R) (Amex(R)) announced today that the Amex Board of Governors approved a course of action that would begin the process to convert the Exchange from a not-for-profit corporation into a for-profit corporation. This is the initial step in the process of demutualization to position the Amex for future investment opportunities. Amex seat owners will have the opportunity to vote on the demutualization plan, which would convert their seats into shares.
Neal Wolkoff, Chairman & Chief Executive Officer, said, "We have been carefully examining the structure of the Exchange for months. The Board's approval to ...