The last two posts have discussed what a corporation may do with fractions of shares. I entitled the first of these posts "Breaking Up Is Not Hard To Do – Fractions, Scrip And Scrippage" in partial reference to the song by Neil Sedaka and Howard...
Fractions And Squeeze Outs
Posted on January 20, 2017
I Deliver Some Round Observations About California's Rounding Rule
Posted on January 19, 2017
Yesterday's post concerned various actions that a California corporation may pursue in lieu of issuing fractional shares. I left for today the subject of rounding. Section 407 of the Corporations Code expressly permits rounding to the nearest whole...
Breaking Up Is Not Hard To Do - Fractions, Scrip And Scrippage
Posted on January 18, 2017
The California General Corporation Law explicitly authorizes a corporation to issue fractional shares. Cal. Corp. Code § 407. A corporation, however, is not required to do so. Id. In lieu of issuing fractions, a corporation may in connection with...