International Shipholding seeks “flexibility”

International Shipholding seeks “flexibility”

International Shipholding seeks “flexibility”

   Shareholders at International Shipholding Corp. are being asked to double the amount of authorized shares from 10 million to 20 million.

   In its annual proxy statement the company said it has only 7.45 million shares of common stock outstanding. International Shipholding said the additional authorized shares would provide it with 'additional flexibility' to:

   ' Raise capital through public offerings or private placements of shares of common stock or options.

   ' Acquire additional assets or businesses.

   ' Repay indebtedness.

   ' Provide stock options, restricted stock or other equity-based awards for directors, officers and key employees.

   ' Provide stock dividends to existing stockholders.

   Shareholders will vote on the proposal at the company’s annual meeting on April 28 in Mobile at the company’s headquarters.