GHS Govan’s Construction Inc. Stock Split
Press Release April 17, 2019
GHS Govan’s Construction Inc. a California benefit corporation is pleased to announce today The California Secretary of State has approved GHS Govan’s Construction (BOD) board of directors stock split decision to increase the number of shares that are outstanding by issuing more shares to current shareholders and adopting our restated articles of incorporation as “Fresno First CBC Construction Benefit Corp.”
Designers, Builders, Engineering (DBE) division
The purpose of the Construction Corp is to engage in any lawful act or activity for which a corporation may be organized under the General Corporation Law of California other than the banking business, the trust company business or the practice of a profession permitted to be incorporated by the California Corporations Code. This corporation is a benefit corporation. The specific public benefit of this corporation shall include providing low-income or underserved individuals or communities with beneficial products or services, promoting economic opportunity for individuals or communities beyond the creation of jobs in the ordinary course of business, and the creation of other general public benefits.
This corporation is authorized to issue two classes of shares, designated respectively as “Class A Common Stock” and “Class B Preferred Stock.” Two Hundred Million (200,000,000) shares of Class A Common Stock may be issued. Upon this amendment and restatement becoming effective, each share of the issued and outstanding stock of the corporation shall be converted to one share of Class A Common Stock. All common stock shares shall have the following rights, preferences, privileges, and restrictions: Class A Common Stock has exclusive voting rights on all matters requiring a vote of the shareholders, including election of directors, except.as otherwise provided by law, but shall not be entitled to any proceeds upon dissolution and liquidation of the corporation.
Fifty Million (50,000,000) shares of Class B Preferred Stock may be issued. All preferred shares shall have the following rights, preferences, privileges, and restrictions: Class B Preferred Stock has no voting rights, except as provided by law, and shall be entitled to all proceeds on a pro rata basis upon dissolution and liquidation of the corporation.
