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Stock Market & Financial Investment News

News Breaks
May 16, 2014
15:32 EDTSTCHirzel Capital reports 6.0% passive stake in Stewart
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January 27, 2016
07:07 EDTSTCStewart announces plan to create single class of common stock
Stewart proposed a plan to reclassify the Company's common stock to eliminate its dual class structure. The proposed reclassification has been unanimously approved by the company's board. Under the terms of the proposed reclassification, holders of Class B Common Stock will exchange 1,050,012 shares of Class B Common Stock for 1,050,012 shares of Common Stock plus $12M in cash in the aggregate. In support of the plan to reclassify, Stewart has entered into a definitive agreement providing for the proposed reclassification with the holders of the Class B Common Stock, which collectively own 1,050,012 shares of the Company's Class B Common Stock. Upon completion of this transaction, all outstanding shares of Stewart Common Stock will be entitled to one vote per share on all matters brought to the Company's stockholders. The company will be seeking stockholder approval of the reclassification as well as stockholder approval of certain amendments to the Company's governing documents.

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