AMC’s APEs climb ahead of movie theater chain’s shareholder vote

AMC Entertainment Holdings Inc. is set to hold a key shareholder vote Tuesday. If the company’s proposals are accepted by shareholders, AMC says its ability to raise capital will be boosted.

On... AMC Entertainment Holdings Inc. is set to hold a key shareholder vote Tuesday. If the company’s proposals are accepted by shareholders, AMC says its ability to raise capital will be boosted. On Sunday the movie theater chain’s CEO Adam Aron tweeted that the proposals are “crucial for our future.” The shareholder meeting will take place at 12pm ET.In January, AMC announced a special meeting of shareholders to be held March 14 to increase the number of AMC-authorized shares from just over 524 million to 550 million and to authorize a 1-for-10 reverse split of the company’s common stock, converting AMC Preferred Equity units into shares of common stock.

“The court has ordered that the March 14 vote shall take place on schedule, but that any implementation action resulting from the vote be held in abeyance until the court rules on the substance of the claims being made,” Aron said. “So, the vote is on.”The AMC CEO urged shareholders to vote for the company’s proposals.

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