Stellar Industries, Inc. will be holding our Annual Shareholders meeting on April 24. This meeting will be held at our Stellar corporate offices at 190 State Street in Garner at 4:00pm. The meeting is scheduled to begin at 4:00pm. All shareholders and Stellar ESOP participants are welcome to attend.
This meeting will be quite different than annual meetings of the past. In November of last year, the Stellar ESOP released a tender offer to purchase shares from stockholders. Many of these shareholders had been early investors in Stellar Industries. The tender offer was very successful for our ESOP. As a result of the tender, the Stellar ESOP was able to increase their percentage ownership of our company from under 27% to just over 40%.
Stellar Industries prides itself on the skilled workforce we are blessed to have throughout our organization. With increased ownership of the corporation, Stellar employees through their ESOP shares will continue to positively impact the future growth and profitablity of their company by continuing to design and build the most innovative and highest quality products for their respective markets.