Amoskeag Co said its board voted to seekshareholder approval at its April 27 annual meeting of a
recapitalization plan calling for the distribution of one Class
B common share for each common share now held.
    The company said the Class B common would have 10 votes per
share and the common one vote per share. Each common share
would be entitled to at least the same dividend as each Class B
share, which would not be freely transferrable for five years
but could be converted share-for-share into common at any time.
    Amoskeag said the proposed recapitalization would increase
total authorized stock to 26.0 mln shares from 2.2 mln. The
board has proposed a total of 20.0 mln authorized common shares
and 6.0 mln authorized Class B shares.
 Reuter
