Video Display
Corporation Calls Special Meeting of Shareholders
Thursday March 31,
The Company currently is
authorized to issue 10,000,000 shares of Common Stock (9,722,088 outstanding)
and 2,000,000 shares of Preferred Stock (none outstanding). The Board of
Directors has voted, subject to Shareholder approval, to increase the number of
shares of capital stock the Company has authorized to issue to 50,000,000
shares of Common Stock and 10,000,000 shares of Preferred Stock.
Company CEO, Ron Ordway,
stated, "Due to the issuance of shares in the 2 for 1 split of the
Company's common stock in November 2004, we are currently near our limit of
available shares. Therefore, the Company is restricted from additional splits,
stock dividends, option issuance or from using common stock in any merger or
acquisition transactions without passage of the proposed increase. The Company
has no specific requirement currently for use of the additional shares;
however, the Company does have an active acquisition program which could
require the issuance of shares if one or more acquisitions being considered
were to be consummated."
Video Display Corporation
designs, develops and manufactures unique solutions for display requirements
for military, medical and industrial use with emphasis on high end training and
simulation applications. Its product offerings include ruggedized
CRT and AMLCD displays as well as complete projection systems utilizing VDC's Marquee(TM) line of projectors. Video Display
Corporation operates 10 display design and manufacturing plants plus eight
sales facilities throughout the
Contact:
Video Display Corporation Ronald D. Ordway, 770/938-2080