Tulsa’s Laredo Petroleum is asking shareholders to allow an increase in corporate shares to 40 million.
In another proxy statement filing Friday with the Securities Exchange Commission, the company said the Board of Directors wanted to increase company shares from the current 22,500,000 and that the request was “routine.”
The company’s scheduled annual meeting of shareholders will be Thursday, May 26.
The proposed increase in shares is item number four of the meeting agenda as laid out earlier by the board of directors.
