Vital Energy’s board of directors has called for a special meeting in November for shareholders to vote on a proposed doubling of the number of shares held in the Tulsa company.
At the Tuesday, November 21 meeting, shareholders will be asked to amend the company’s amended and restated certificate of incorporation to increase the number of authorized shares from 40 million to 80 million.
The agenda also allows for one or more adjournments of the special meeting, if necessary, to allow solicitation of additional votes if there are insufficient votes to approve the charter amendment.
A third agenda item calls for approval of the issurance of shares of common stock upon conversion of the firm’s 2% cumulative mandatorily convertible Series A preferred stock. The move is designed to comply with the rules of the New York Stock Exchange.
The meeting will begin at 9 a.m. and be held at the Santa Fe Plaza building, 521 E. 2nd Street in Tulsa.