/PRNewswire/ CVG (NASDAQ: CVGI) will hold its quarterly conference call on Wednesday, May 5, 2021, at 10:00 a.m. ET, to discuss first quarter 2021 financial.
CVG Announces Termination of Rights Agreement
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NEW ALBANY, Ohio, April 16, 2021 /PRNewswire/ CVG (NASDAQ: CVGI) announced today that its Board of Directors unanimously approved the termination of the Company s rights agreement, commonly referred to as a poison pill , which was originally scheduled to expire on June 24, 2021. The rights agreement was amended to accelerate the expiration date to April 15, 2021, effectively terminating the rights agreement as of that date. CVG is committed to enhancing its governance policies for the benefit of stockholders, said Harold Bevis, President and Chief Executive Officer of CVG. The termination of the rights agreement advances that objective.
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February auto sales data for China the world’s largest car market released last week. Per China Passenger Car Association, retail sales of passenger cars witnessed more than fourfold surge on a year-over-year basis thanks to the stabilization of the coronavirus pandemic and supportive government policies. As we know, China auto market was severely hit in February 2020 due to shutdown of factories and dealerships amid lockdown restrictions. Last month, retail sales of passenger cars totaled 1.18 million units. Meanwhile, sales of electric vehicles (EVs) saw more than sevenfold jump year over year to 97,000 units.
Operator
Good morning, ladies and gentlemen. And welcome to CVG s Fourth Quarter and Full-Year 2020 Earnings Conference Call. [Operator Instructions]
I would now like to turn the call over to Mr. Chris Bohnert, Chief Financial Officer. Please go ahead, sir. Thank you, and welcome to our call. Joining me today is Harold Bevis, President and Chief Executive Officer of CVG. As a reminder, a telephonic replay of this call will be available on the Investors section of our website until March 24, 2021. Additionally, a slide deck to complement today s discussion is also available on our website. Both may contain forward-looking statements, including but not limited to expectations for future periods, regarding market trends, cost savings initiatives, new product initiatives, among others. Actual results may differ from anticipated results because of certain risks and uncertainties. These risks and uncertainties may include, but are not limited to, economic conditions in the markets in whi
Commercial Vehicle Group (CVGI) delivered earnings and revenue surprises of -225.00% and 14.47%, respectively, for the quarter ended December 2020. Do the numbers hold clues to what lies ahead for the stock?