Apple responds to Greenlight Capital shareholder proposal
TweetFollow Us on Twitter

Apple responds to Greenlight Capital shareholder proposal


Greenlight Capital ("Greenlight") -- a value oriented, research-driven investment management firm -- is urging (http://tinyurl.com/ba2aytc) fellow shareholders of Apple to oppose the company’s attempt to amend its corporate charter. Apple has responded with the following statement:

"By early last year, Apple’s cash balance had built to a point beyond what we needed to run our business and maintain flexibility to take advantage of strategic opportunities, so we announced a plan to return $45 billion to shareholders over three years. As of next week we will have executed $10 billion of that plan.

"We find ourselves in the fortunate position of continuing to generate large amounts of cash, including $23 billion in cash flow from operations in the last quarter alone.

"Apple’s management team and Board of Directors have been in active discussions about returning additional cash to shareholders. As part of our review, we will thoroughly evaluate Greenlight Capital’s current proposal to issue some form of preferred stock. We welcome Greenlight’s views and the views of all of our shareholders.

"As a part of our efforts to further enhance corporate governance and serve our shareholders’ best interests, Proposal #2 in our proxy includes some recommended changes to our articles of incorporation. These changes were recommended independently of Greenlight’s proposal and would not preclude Apple from adopting their concept. Contrary to Greenlight’s statements, adoption of Proposal #2 would not prevent the issuance of preferred stock. Currently, Apple’s articles of incorporation provide for the issuance of “blank check” preferred stock by the Board of Directors without shareholder approval. If Proposal #2 is adopted, our shareholders would have the right to approve the issuance of preferred stock. As such, Proposal #2 has the support of many of our shareholders.

"We remain committed to having an ongoing dialogue with our shareholders to get perspectives around return of capital and driving shareholder value."

 
AAPL
$101.42
Apple Inc.
+1.31
GOOG
$579.13
Google Inc.
+2.77
MSFT
$46.45
Microsoft Corpora
+0.01
MacNews Search:
Community Search:

Latest Forum Discussions

See All
view counter

view counter
view counter
view counter
view counter
view counter
view counter

Moon and Sun – children’s book Review
Moon and Sun – children’s book Review By Amy Solomon on September 30th, 2014 Our Rating: Moon and Sun is a fable-like children’s book with lush illustrations.   Developer: Marcio Monteiro Price: $3.99 Version: 1.0 App Reviewed on: iPad 3 | Read more »
Kairosoft Finally Brings The Pyraplex to...
Kairosoft Finally Brings The Pyraplex to iOS Posted by Jessica Fisher on September 30th, 2014 [ permalink ] Universal App - Designed for iPhone and iPad | Read more »
Yeti’s Parole Officer Review
Yeti’s Parole Officer Review By Jennifer Allen on September 30th, 2014 Our Rating: Universal App - Designed for iPhone and iPad Yeti’s Parole Officer proves that looks aren’t everything in this entertaining, if plain, piece of interactive fiction.   | Read more »
Record Keeper and World Wide Words – Two...
Record Keeper and World Wide Words – Two New Final Fantasy Games Arrive on iOS in Japan Posted by Ellis Spice on September 30th, 2014 [ permalink ] | Read more »
iPollute Review
iPollute Review By Nadia Oxford on September 30th, 2014 Our Rating: :: iPOLLUTE, uPOLLUTEUniversal App - Designed for iPhone and iPad iPollute is a delightful-looking pollution simulator, though it’s a bit light on “game” content.   | Read more »
This Week at 148Apps: September 22-26, 2...
Your Source For The Latest App Reviews   | Read more »
Kill Shot Review
Kill Shot Review By Jennifer Allen on September 29th, 2014 Our Rating: :: OCCASIONAL MISFIRESUniversal App - Designed for iPhone and iPad Kill Shot is often satisfying, but its more than pushy in-app purchases will leave you feeling a little bummed.   | Read more »
It Came From Canada: Vainglory
I’m going to be straight you with folks. I don’t know much about MOBAs, and I’m certainly no professional. That means I don’t know how well Vainglory, the upcoming multiplayer online battle arena showcased in the most recent Apple keynote, compares to titans like League of Legends or DotA 2 in terms of depth and control. However, in this edition... | Read more »
The Tunnel – An Endless Fall Review
The Tunnel – An Endless Fall Review By Nadia Oxford on September 29th, 2014 Our Rating: :: FREE FALLIN' Universal App - Designed for iPhone and iPad The Tunnel – An Endless Fall is a bit harder to get the hang of than most “endless running/etc” games, but that doesn’t keep it from being hypnotic in its own way.   | Read more »
Ubisoft Launches Just Dance Now in the A...
Ubisoft Launches Just Dance Now in the App Store Worldwide Posted by Jessica Fisher on September 29th, 2014 [ permalink ] Universal App - Designed for iPhone and iPad | Read more »
All contents are Copyright 1984-2010 by Xplain Corporation. All rights reserved. Theme designed by Icreon.