Advertisement

OTHER NEWS

From Times Staff and Wire Reports

Mesa Plans to Incorporate: Mesa Ltd. Partnership announced plans to convert to a corporation, allowing institutional investors to replace individuals who left last year when dividends ended with the natural gas price slump. In a filing with the Securities and Exchange Commission, Mesa proposed issuing new common stock to replace existing common and preference ownership units. At the same time, Mesa plans a one-for-five reverse stock split, reducing the number of outstanding shares by 80%. Partners may be called to a special meeting this fall to vote on the proposal, Mesa said.


Advertisement
Advertisement