Radio One Approves Possible Reverse Split At Shareholders Meeting
December 22, 2009 at 8:38 AM (PT)
RADIO ONE has reported the results of various proposals voted upon at its 2009 Annual Shareholders' Meeting held DECEMBER 16th in GREENBELT, MD. Chief among them was the approval to effect a reverse stock split across all classes of common stock by a ratio of not less than one-for-two and not more than one-for-50at any time prior to the next annual shareholders' meeting.
Also, TERRY L. JONES and BRIAN W. MCNEILL were elected as Class A directors to serve until the 2010 annual meeting of shareholders or until their successors are duly elected and qualified.
CATHERINE L. HUGHES, ALFRED C. LIGGINS, III, D. GEOFFREY ARMSTRONG, RONALD E. BLAYLOCK and B. DOYLE MITCHELL, JR. were elected as Class B directors to serve until the 2010 annual meeting of shareholders or until their successors are duly elected and qualified.
The RADIO ONE 2009 Stock Option and Restricted Stock Plan was approved, to succeed the 1999 Stock Option and Restricted Stock Plan.