Annual General Meeting Lack of Quorum
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Annual General Meeting Lack of Quorum, Removal of Regulation S restrictions from shares and Exercise of Options
Spectra (AIM: SPSY.L) announces that, having received only 8 ballots, it does not have enough shareholder votes to achieve a quorum to transact business at its scheduled 2024 Annual General Meeting on 29 July 2024. The presence in person or by proxy, duly authorized, of the holders of a majority of the outstanding shares of stock entitled to vote constitutes a quorum.
A summary of the votes received is as follows:
| Resolution | For | Against | Discretion | Withheld | Total |
|---|---|---|---|---|---|
| Elect BJ Penn as Director | 12,162,853 | 1,300,348 | - | - | 13,463,201 |
| Elect Nabil Lawandy as Director | 13,462,853 | 348 | - | - | 13,463,201 |
| Elect Jeremy Fry as Director | 12,162,853 | 1,300,348 | - | - | 13,463,201 |
| Elect Donald Stanford as Director | 12,162,853 | 1,300,348 | - | - | 13,463,201 |
| Elect Barbara Paldus as Director | 12,162,853 | 1,300,348 | - | 13,463,201 | |
| Ratification of Appointment of Independent Auditor | 10,417,053 | 1,320,348 | - | 1,725,800 | 11,737,401 |
Total shares of stock outstanding as of the record date of 28 June 2024 was 48,228,972. Therefore, only approximately 28% of the shares of stock were voted.
Removal of Regulation S restrictions from shares
Restrictive legends have also been removed from a further 36,072 shares of common stock of the Company.
Exercise of Options
Accordingly the Company has issued and will apply for 8,995 shares to be admitted to trading on AIM, which is expected to take place on or around 2 August 2024 ("Admission").
Following Admission the Company's issued share capital will comprise:
- 752,618 shares in the Regulation S stock line ISIN number USU8457D1091 (AIM:SPSC); and
- 47,476,354 shares in the unrestricted line ISIN number US84756T1060 (AIM:SPSY).
In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the FCA ("DTRs"), the issued share capital of Spectra upon Admission is 48,228,972 shares with voting rights attached (one vote per share). There are no shares held in treasury, therefore this figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, Spectra under the DTRs.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.