Summary
Chesapeake Energy Corporation (EXE) filed a Form 8-K on June 30, 2006, reporting an amendment to its corporate charter. Effective June 26, 2006, the company filed a Certificate to Eliminate Certificates of Designation with the Oklahoma Secretary of State. This action formally removes the designations for two series of preferred stock: the 6.75% Cumulative Convertible Preferred Stock (designated on November 13, 2001) and the 6.00% Cumulative Convertible Preferred Stock (designated on March 3, 2003). This filing means these specific series of preferred stock no longer have their original designations in the company's Certificate of Incorporation, simplifying the company's capital structure and potentially reducing administrative complexities related to these securities.
Key Highlights
- 1Chesapeake Energy Corporation (EXE) filed an 8-K on June 30, 2006.
- 2The company eliminated Certificates of Designation for two series of preferred stock.
- 3The affected preferred stock includes 6.75% Cumulative Convertible Preferred Stock and 6.00% Cumulative Convertible Preferred Stock.
- 4The elimination was effective as of June 26, 2006.
- 5This filing amends the company's Certificate of Incorporation.
- 6The action simplifies the company's capital structure by removing specific designations for these preferred stock series.