National HealthCare Corp. intends to increase its authorized share capital from 30 million shares to 45 million shares.
The board of directors has recommended that shareholders vote in favor of amending the company's charter to allow for the increase.
There are roughly 15,179,930 ordinary shares issued and outstanding. An additional 820,019 shares are reserved for issuance under the company's 2005 and 2010 stock option plans.
The matter will be put to a vote at the company's annual meeting of shareholders May 9.