Annual General Meeting Lack of Quorum
Spectra Systems Corporation announced that its 2026 Annual General Meeting failed to achieve a quorum due to insufficient shareholder votes, with only 6 ballots received. Despite this, resolutions to elect directors BJ Penn, Nabil Lawandy, Jeremy Fry, Donald Stanford, and Barbara Paldus, as well as the ratification of the independent auditor, received substantial support from the votes cast, with figures ranging from 10,312,292 to 14,695,803 votes in favour. The total outstanding shares entitled to vote were 48,424,151, and approximately only 30% of these shares were voted.
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Spectra (AIM: SPSY.L) announces that, having received only 6 ballots, it does not have enough shareholder votes to achieve a quorum to transact business at its scheduled 2026 Annual General Meeting on 31 July 2026. 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 | 10,477,338 | 10,304 | - | 4,220,104 | 10,487,642 |
| Elect Nabil Lawandy as Director | 14,695,803 | 10,304 | 1,110 | 529 | 14,707,217 |
| Elect Jeremy Fry as Director | 10,312,292 | 10,000 | - | 4,385,454 | 10,322,292 |
| Elect Donald Stanford as Director | 10,477,338 | 10,304 | - | 4,220,104 | 10,487,642 |
| Elect Barbara Paldus as Director | 10,477,642 | 10,000 | - | 4,220,104 | 10,487,642 |
| Ratification of Appointment of Independent Auditor | 10,481,726 | 4,225,820 | - | 200 | 14,707,546 |
Total shares of stock in issue as of the record date of 3 July 2026 was 48,444,151, of which 20,000 shares were held in treasury. The total number of shares of stock outstanding and entitled to vote was therefore 48,424,151, and only approximately 30% of those shares were voted.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.