According to the terms of the newest March a dozen, 1956 merger regarding Pasadena on the Household the newest make certain stock out-of Pasadena then stored of the Domestic is actually surrendered and cancelled. Withdrawable offers from Pasadena had been entitled to end up being surrendered and you will cancelled in exchange for an excellent withdrawable show in home for the same number given that confirmed by the surrendered Pasadena show. New trademark notes to your House versions was to be bought out-of people who replaced their Pasadena offers to possess Household offers. Using such terms and conditions, 97.2% out-of Pasadena’s withdrawable offers was indeed converted into withdrawable offers off Domestic.
Residence’s purchase of Anaheim went on in the same manner. The price are $2,260,729 while the purchase is actually recorded in the Home’s guides given that a keen money inside the Anaheim’s make certain inventory. The latest Ca Coupons and you will Mortgage Administrator approved a proposed merger regarding Anaheim on Home for the Summer thirteen, 1956 provided it actually was approved by the guarantee stockholders out-of Anaheim together with verify stockholders and you can withdrawable shareholders off Domestic holding maybe not below a couple-thirds of the a fantastic ensure stock each and every company and not lower than one or two-thirds during the worth of Home’s a fantastic withdrawable offers.