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
$106.98
Apple Inc.
-0.36
GOOG
$550.31
Google Inc.
+0.98
MSFT
$46.05
Microsoft Corpora
-0.57
MacNews Search:
Community Search:

Latest Forum Discussions

See All
view counter

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

Audio Defence : Zombie Arena (Games)
Audio Defence : Zombie Arena 1.0 Device: iOS Universal Category: Games Price: $4.99, Version: 1.0 (iTunes) Description: A zombie shooter audio game. Made from gut-wrenching 3D binaural sound, for a new kind of weird immersion. You are the blind warrior, fighting off wave after wave of Dr Bastard’s Zombies. With 3D binaural sound... | Read more »
RPG Asdivine Hearts (Games)
RPG Asdivine Hearts 1.1.0 Device: iOS Universal Category: Games Price: $3.99, Version: 1.1.0 (iTunes) Description: SPECIAL PRICE50% OFF (USD 7.99 -> USD 3.99)!!!Travel alongside four companions and a cat in the adventure of a lifetime and one that transcends even the world in this latest fantasy RPG!◆◇Story◇◆ | Read more »
Haunt the House: Terrortown (Games)
Haunt the House: Terrortown 1.0.1 Device: iOS Universal Category: Games Price: $.99, Version: 1.0.1 (iTunes) Description: 66.6% OFF! SPECIAL SPOOKY HALLOWEEN LAUNCH PRICE! 66.6% OFF!...What was that sound? Is somebody there? | Read more »
SAS: Zombie Assault 4 Review
SAS: Zombie Assault 4 Review By Jennifer Allen on October 30th, 2014 Our Rating: :: FLAWED SHOOTERUniversal App - Designed for iPhone and iPad Shoot everything that moves in this fun, if flawed, twin-stick shooter.   | Read more »
Naailde the Witch Review
Naailde the Witch Review By Amy Solomon on October 30th, 2014 Our Rating: :: PITCH-PERFECT STORYTELLINGUniversal App - Designed for iPhone and iPad Marvelous storytelling, narration, and moving illustrations make this storybook worth a download.   | Read more »
1st & Goal Review
1st & Goal Review By Andrew Fisher on October 30th, 2014 Our Rating: :: FOR THE D&D LOVING QBUniversal App - Designed for iPhone and iPad 1st & Goal is a board gamer’s football game, a football fan’s board game, and well worth a look.   | Read more »
French Developer Pated Unveils Seashine
French Developer Pated Unveils Seashine Posted by Ellis Spice on October 30th, 2014 [ permalink ] French one-man studio Pated has unveiled Seashine, “a poetic journey into the abyss.” Players take on the role of a jellyfish strugglin | Read more »
Agents of Storm: Tips, Tricks, and Strat...
Calling all agents: Would you like to see what we thought of this rather pretty base builder? Check out our Agents of Storm review! Have you downloaded Agents of Storm, been bowled over by the graphics, and aren’t quite sure what to do next? Never fear, for we’re here with some handy tips and tricks to help any beginner get started!   Diamonds Are... | Read more »
Any.DO 2.0 Hopes to Help Manage Producti...
Any.DO 2.0 Hopes to Help Manage Productivity Posted by Ellis Spice on October 30th, 2014 [ permalink ] iPhone App - Designed for the iPhone, compatible with the iPad | Read more »
Base Busters Review
Base Busters Review By Jennifer Allen on October 30th, 2014 Our Rating: :: FUN BUT RESTRICTED MIXUniversal App - Designed for iPhone and iPad Mixing up two forms of tower defense gaming and collectible cards, Base Busters is a fun mix that’s restricted by freemium elements.   | Read more »
All contents are Copyright 1984-2010 by Xplain Corporation. All rights reserved. Theme designed by Icreon.