E-Malt.com News article: 1642

Adolph Coors Co., the No. 3 U.S. brewer, announced on October 3 that it would change its place of incorporation from Colorado to Delaware. The proposal was approved by Class A and B shareholders. More than 28 million shares voted in favor of the measure (80 % of outstanding shares). The Golden, Colorado-based company had been incorporated in that state since its founding in 1873.

"We''re pleased with the outcome of this vote," said Peter Coors, Chairman of Adolph Coors Company. "This change will be beneficial to the company and its shareholders through obtaining the benefits of Delaware''s comprehensive, widely used and extensively interpreted corporate law."

The reincorporation is anticipated to become effective today, and will not result in any change in the company''s name, headquarters, business, jobs, management, location of offices or facilities, number of employees, taxes payable to the State of Colorado, assets, liabilities or net worth. Also, the company''s Class B common stock will continue to trade on the New York Stock Exchange under the symbol RKY.

More than half of Fortune 500 publicly traded companies are incorporated in Delaware, and according to the October 2002 Denver Business Journal, seven of Colorado's top 10 companies (based on number of employees) are incorporated in Delaware.

Founded in 1873, Adolph Coors Company, the holding company for Coors Brewing Company, is the third-largest U.S. brewer and the world''s eighth- largest brewer. The company sells its products in North America, Europe, Latin America, the Caribbean and Asia. The company''s European subsidiary, Coors Brewers Limited, is the second-largest brewer in the United Kingdom, with the U.K.''s leading brand, Carling. Adolph Coors Company stock trades on the New York Stock Exchange under the symbol RKY.


07 October, 2003