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Spectra Systems Corporation announced that its 2022 Annual General Meeting on 13 June 2022 did not achieve a quorum. This was due to the Company receiving only 9 shareholder ballots, which represented approximately 41% of the 45,320,439 total shares outstanding as of the 10 June 2022 record date.
| Date | 13 Jun 2022 |
| Time | 07:00:05 |
| Category | Corporate updates |
| ID | 5497O |
Spectra Systems Corporation
("The Company" or "Spectra")
Annual General Meeting Lack of Quorum
Spectra (AIM: SPSY.L) announces that, having received only 9 ballots, it does not have enough shareholder votes to achieve a quorum to transact business at its scheduled 2022 Annual General Meeting on 13 June 2022. 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 |
12,345,133 |
- |
- |
6,441,048 |
18,786,181 |
|
Elect Nabil Lawandy as Director |
17,431,307 |
- |
- |
1,354,874 |
18,786,181 |
|
Elect Jeremy Fry as Director |
17,431,307 |
- |
- |
1,354,874 |
18,786,181 |
|
Elect Donald Stanford as Director |
12,345,133 |
- |
- |
6,441,048 |
18,786,181 |
|
Ratification of Appointment of Independent Auditor |
17,431,307 |
1,354,874 |
- |
- |
18,786,181 |
Total shares of stock outstanding as of the record date of 10 June, 2022 was 45,320,439. Therefore, only approximately 41% of the shares of stock were voted.
Enquiries:
Spectra Systems Corporation
Dr. Nabil Lawandy (Chief Executive Officer) Tel: +1 (0) 401 274 4700
|
WH Ireland Limited (Nominated Adviser and Broker) Chris Fielding (Managing Director, Corporate Finance) Andrew de Andrade (Executive, Corporate Finance)
Allenby Capital Limited (Joint Broker) Nick Naylor/James Reeve (Corporate Finance) Amrit Nahal (Sales and Corporate Broking) |
Tel: +44 (0)20 7220 1650
Tel: +44 (0)20 3328 5665
|
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.