=20 ---------------------------------------------------------------------- This article was sent to you by someone who found it on SF Gate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=3D/news/archive/2002/04/03/f= inancial1208EST0096.DTL ---------------------------------------------------------------------- Wednesday, April 3, 2002 (AP) World Airways seeks shareholder OK to boost authorized shares (04-03) 09:08 PST (AP) -- WASHINGTON (Dow Jones/AP) -- World Airways Inc. is seeking shareholder approval for a 150 percent increase in the number of its authorized shares, the company said in a regulatory filing. The proposal would increase the number of authorized shares of common stock to 100 million from 40 million, according to a filing late Tuesday with the Securities and Exchange Commission. The additional shares would be used for acquisitions, employee stock plans, recapitalizations, stock splits and other corporate purposes, the company said. As of March 28, the Herndon, Va.-based airline had 11,069,039 common shares outstanding and 11,280,136 common shares reserved for stock option awards. Of the 40 million authorized common shares, 17,650,825 are unissued and unreserved, the filing said. Shareholders will vote on the proposal May 8. World Airways, with $317.9 million in 12-month revenue, provides long-range wide-body passenger and cargo air transport. Its services are outsourced to international carriers, the U.S. military and leisure tour operators. In morning trading, shares of World Airways were at 71 cents, down 12 cents, or nearly 15 percent, on the Nasdaq Stock Market. =20 ---------------------------------------------------------------------- Copyright 2002 AP