Shareholders of Lithium Technology Approve Increase in Number of Shares

June 22, 2000 by Jeff Shepard

Lithium Technology Corp. (LTC, Plymouth Meeting, PA) has announced that its shareholders approved the increase in the number of authorized shares of the company's common stock to 125,000,000.The consent solicitation seeking the increase was mailed to shareholders on May 2, 2000 and closed on June 15, 2000. At closing, approximately 78 percent of outstanding shares had been voted, with 98 percent (76 percent of outstanding shares) agreeing to amend the company's corporate charter to reflect the increase. This action was taken to enable compliance with certain corporate commitments, including terms of the company's merger agreement with Pacific Lithium Ltd. (New Zealand).