DPW Holdings, Inc. Announces Results of Adjourned Annual Meeting of Stockholders
At the Adjourned Annual Meeting, Proposal 5 passed with more than 50% of the votes of all issued and outstanding shares of capital stock having been cast in its favor. The Board has not decided when to effectuate the reverse stock split nor has it determined what the ratio will be. Any Board action on the foregoing matters will depend on market conditions, specifically the market price of its common stock, and whether that market price is in compliance with the continued listing standards set forth in the NYSE American Company Guide. However, even if no reverse stock split is explicitly required to remain in compliance with the Company Guide, the Board may determine to implement it based on other factors.
While Proposal 7 did not, unlike Proposal 5, require approval of more than 50% of all outstanding shares of our capital stock for the proposal to be approved, it did require that more votes be cast for the proposal than votes cast against it. Approximately 50% of the votes were cast in favor of Proposal 7, whereas approximately 49% of such votes were cast against it.
“I appreciate the substantial stockholder support for both Proposal 5 and Proposal 7,” said Milton “Todd”
The Company has filed a definitive proxy statement on Schedule 14A and associated proxy card (the “Proxy Statement”) with the
This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the
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