Alpha Natural Resources Inc. and Alpha Natural Resources Holdings Inc.'s plan to streamline their capital structure was approved by stockholders at the companies' joint annual meeting.
The stockholders approved a proposal to exchange shares of the existing classes and series of stock for new shares at specified exchange ratios. As a result, Alpha Holdings will have a single trading class of common stock, while Alpha will have two classes of common stock, one of which will trade, according to a Feb. 15 news release.
Alpha also named W. Douglas Blackburn and Daniel Geiger as new members of the board, effective immediately.
Prior to their appointments, Blackburn held positions in BlackAcre LLC and several coal companies, while Geiger served in D.J. Geiger and Co. LLC after holding positions in Lexington Coal Co. and James River Coal Co.
Independent directors Harvey Tepner and John Lushefski, along with Alpha CEO David Stetson, were returned to the board with Stetson again elected as chair, the company said in the release.