Alumax Inc. and Consolidated Subsidiaries - Page 19

                                       - 11 -                                         
          of the Alumax class A common stock could be issued and outstand-            
          ing at any time that any share of the Alumax class C common stock           
          was issued and outstanding, and no share of the Alumax class C              
          common stock could be issued and outstanding at any time that any           
          share of the Alumax class A common stock was issued and outstand-           
          ing.  As a result of the 1984 restructuring, (1) the 250 shares             
          of the class A common stock that Amax Realty, Bemax, Cemax, and             
          Amax Securities held were exchanged for 250 shares of the Alumax            
          class C common stock; (2) all shares of the class A common stock            
          were retired and became authorized and unissued shares of the               
          Alumax class A common stock; and (3) the 250 shares of the class            
          B common stock that Mitsui Japan, Mitsui USA, and Nippon Steel              
          held became 250 shares of the Alumax class B common stock.  (We             
          shall sometimes refer (1) to the holders of the Alumax class C              
          common stock as the class C stockholders or the Amax group                  
          stockholders and (2) to the holders of the Alumax class B common            
          stock as the class B stockholders or the Mitsui/Nippon group                
          stockholders.)  On or about March 31, 1984, Mitsui Japan sold to            
          Mitsui USA the 50 shares of the Alumax class B common stock that            
          it held.  Accordingly, all 250 shares of the Alumax class B                 
          common stock were thereafter held by Mitsui USA and Nippon Steel.           
               Throughout any period during which any Alumax class C common           
          stock was outstanding, (1) each share of the Alumax class B                 
          common stock had one vote, and each share of the Alumax class C             
          common stock had four votes on each matter submitted to the                 




Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  Next

Last modified: May 25, 2011