As of the date hereof, 3,881,917 shares of Poage Common Stock are issued and outstanding, and no shares of Poage Preferred Stock have been issued.
The authorized capital stock of Poage consists of 30,000,000 shares of Poage Common Stock and 1,000,000 shares of Poage preferred stock, par value $0.01 per share.
All outstanding shares of Poage Common Stock have been duly authorized and validly issued and are fully paid and nonassessable, and none of the outstanding shares of Poage Common Stock have been issued in violation of the preemptive rights of any person, firm or entity.
File with the SEC the Registration Statement, registering the Poage Common Stock to be issued in connection with this Agreement and the transactions contemplated hereby.
Deposit account holders of Commonwealth shall receive the right to subscribe for the shares of Poage Common Stock issued by Poage in connection with the Conversion Merger in accordance with the Plan of Conversion and OCC regulations.