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Limited Brands Stockholders Donate $100,000 for Charity Through Georgeson Shareholder Program
Limited Brands Stockholders Donate $100,000 for Charity Through Georgeson Shareholder Program
Published 07-17-08
Submitted by Georgeson Inc.
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.
