24 Jun 2019 07:00
Spectra Systems Corporation
("The Company" or "Spectra")
Annual General Meeting Lack of Quorum
Spectra (AIM: SPSY.L) announces that it does not have enough shareholder votes to achieve a quorum to transact business at its scheduled 2019 Annual General Meeting on 24 June 2019. 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 | 11,497,101 | - | 33,869 | - | 11,530,970 |
Elect Nabil Lawandy as Director | 11,530,970 | - | - | - | 11,530,970 |
Elect Martin Jaskel as Director | 10,766,470 | - | 764,500 | - | 11,530,970 |
Elect Donald Stanford as Director | 11,530,970 | - | - | - | 11,530,970 |
Approval of Amended & Restated Compensation Plan | 11,514,811 | 15,049 | - | 1,110 | 11,530,970 |
Ratification of Appointment of Independent Auditor | 10,751,421 | 15,049 | 764,500 | - | 11,530,970 |
Total shares of stock outstanding as of the record date of 26 April 2019 was 45,871,297. Therefore, only approximately 25% 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
Chris Fielding (Managing Director, Corporate Finance) Tel: +44 (0) 20 7220 1650
Spectra (di/ S) (SPSC)
Spectra (unres) (SPSY)