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Spectra Systems (SPSY)

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Monday 24 June, 2019

Spectra Systems

Annual General Meeting Lack of Quorum

RNS Number : 0971D
Spectra Systems Corporation
24 June 2019
 

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


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