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Carolina Financial board urges shareholders to vote on share increase

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Carolina Financial board urges shareholders to vote on share increase

The board of Carolina Financial Corp. urged shareholders to vote for a proposal that will increase the Charleston, S.C.-based company's authorized common shares to 50 million from 25 million.

The availability of additional authorized shares will provide the company with the flexibility to issue common shares for corporate purposes, the board said.

The annual meeting of shareholders will be May 2.