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Article: Badger Meter Announces Elimination of Class B Stock and Stock Buyback.
- Article from:
- Business Wire
- Article date:
- August 13, 1999
CopyrightCOPYRIGHT 1999 Business Wire. 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)
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MILWAUKEE--(BUSINESS WIRE)--Aug. 13, 1999--
Badger Meter, Inc. (AMEX:BMI) today announced several steps intended to broaden investor interest in the company. The first major step was the decision by the Wright family voting trust and certain other trusts to convert all of their Class B common stock (ten votes per share) to common stock (one vote per share). Once these conversions are concluded, all of the remaining Class B stock, for a total of 1,072,086 shares, will automatically be converted on a share-for-share basis into common stock. At that time, Badger Meter will revert to a single class of common stock. This represents the dismantling of the two-class ...