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Limitation on 5% Shareholders
In order to protect certain of CIT’s tax attributes, CIT’s Certificate of Incorporation imposes restrictions on the ownership of CIT common stock. Under the terms of these restrictions, unless approved by the Board, any purchase of CIT common stock is prohibited if the purchase results in either (i) any person or group of persons becoming a “five-percent shareholder” or (ii) an increase in the ownership interest of any existing five-percent shareholder.
You are encouraged to review the full text of these restrictions as set forth in CIT’s Certificate of Incorporation and the Form 8-K filed with the Securities Exchange Commission on December 9, 2009.
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