They are setting the ratio just high enough to be able to buy fractional shares for cash and put into treasury stock. Then they will use those shares to pay themselves big bonuses.
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Well, this post aged like a fine wine.
This may be the dumbest theory I have seen on this site of id–ts. Please tell me you don’t work in any part of the company that has anything to do with accounting or financial issues.
2020 year of the shareholder lawsuit
Sneaky and also helps me understand why they left the ratio wide open are giving them selves a whole year to do it or not
They are taking advantage of all the fear that's why they are doing the special shareholder meeting before earnings are released. Stock will rise on good earnings, bailout, ... staying mum just helps their cause. Dividends on prefered shares will be cut to zero too.
I still own stock but haven’t seen details of what they want to do. Where can I find the details?
It doesn’t matter because it’s a done deal all the institutions will support it.