MasterCard Announces Details of Class B Share Conversion Program
Following approval of its amended and restated certificate of incorporation at its 2007 Annual Meeting of Stockholders earlier this month, MasterCard has announced the details of its previously announced plan to "facilitate an accelerated and orderly conversion of Class B common stock into Class A common stock for subsequent sale to the public in 2007."
"We are pleased that our stockholders approved this proposal, allowing us to manage our capital structure in a manner that we believe creates value for all shareholders," said MasterCard President and Chief Executive Officer Robert W. Selander.
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