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Corporate Social Responsibility
News
7.17.2008 - 09:31am ET
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CSR News from:
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Georgeson Inc.
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News Categories: |
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Limited Brands Stockholders Donate $100,000 for Charity Through Georgeson Shareholder Program
Susan G. Komen for the Cure is the beneficiary of shareholder generosity
(CSRwire) NEW YORK, July 17 /PRNewswire/ -- Georgeson Inc., the leading strategic
proxy and corporate governance advisory firm, today announced that Limited
Brands, through a special shareholder program, has raised $100,000 for
Susan G. Komen for the Cure, the world's largest grassroots network of
breast cancer survivors and activists. The voluntary program, offered to
Limited Brands shareholders with fewer than 100 shares, allowed investors
to purchase additional shares, sell their shares, or donate the proceeds
of the sale of their shares as a charitable contribution to Susan G. Komen
for the Cure.
"Limited Brands is a company led by women for women so we feel it's vital
that one of the major thrusts of our philanthropic efforts is focused on
women's health. We recognize the significance of breast cancer awareness
and education in the communities where we live and work. Through our
Think Pink program -- with financial contributions and our associate
volunteerism -- we've proudly supported these efforts every year," said
Carol Dreska, manager of investor relations. "Enabling our shareholders
to support this charity by selling and donating their shares through this
program was a unique and exciting extension of our current efforts."
Judging from their response, Limited Brands shareholders were more than
generous. "We were pleased to support Limited Brands' efforts to raise
nearly $100,000 from the proceeds of the share sales, one of the most
successful charitable shareholder programs in which we have ever
participated," said Ron Boronkay, Executive Vice President, Georgeson Inc.
Mergers, acquisitions, spin-offs or routine stock transfers can create
many "small" shareholders who own fewer than 100 shares -- known as oddlot
holders.This group represents a surprisingly significant and recurring
shareholder servicing expense, yet they represent the most inactive
segment of the shareholder population. As an issuer's shareholder base
continues to expand with even a seemingly moderate shareholder population
that own fewer than 100 shares, the shareholder servicing budget can grow
disproportionately.
With Georgeson's oddlot programs, public companies can streamline their
shareholder servicing costs and -- if the company includes a charitable
contribution option -- they can help support important causes while
strengthening their corporate social responsibility efforts.
ABOUT GEORGESON:
Georgeson Inc. is the world's leading provider of strategic proxy and
corporate governance consulting services to corporations and shareholder
groups working to influence corporate strategy. Since 1935, Georgeson has
specialized in complex solicitations such as hostile and friendly
acquisitions, proxy contests and takeover defenses. Georgeson leads more
M&A transactions globally than all other firms combined. Georgeson also
provides issuers with expertise in corporate events solutions such as
post-merger unexchanged holder programs and information agent services.
Georgeson is a Computershare company. For more information, visit http://www.georgeson.com.
ABOUT LIMITED BRANDS:
Limited Brands, through Victoria's Secret, Pink, Bath & Body Works, C.O.
Bigelow, La Senza, White Barn Candle Co. and Henri Bendel, presently
operates 2,987 specialty stores. The company's products are also
available online at http://www.VictoriasSecret.com,
http://www.BathandBodyWorks.com,
http://www.HenriBendel.com and http://www.LaSenza.com.
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