CMS Shareholders OK Reincorporation of Firm
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Shareholders of Tustin-based CMS Enhancements Inc. have approved reincorporation of the computer products company in Delaware and have approved a reduction of the company’s common shares outstanding on a 7-1 basis.
Jim Farooquee, CMS president, said the reincorporation will enable the company to indemnify directors from certain types of liability.
The reduction in the number of shares outstanding to 7.34 million will enable CMS stock to be traded on the National Assn. of Securities Dealers national market system, the company said.
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