At the Annual Meeting which was convened, all items of business were passed, with the exception of Proposal 7, which would effect a reduction of the quorum requirements for future shareholder meetings, as the Company had not received sufficient proxies for approval by the time of the Annual Meeting. Accordingly, the meeting was convened and adjourned solely in respect of proposal 7.
Results of Annual Meeting
At the Annual Meeting, approximately 54.37% of the Company’s outstanding shares of common stock and Series C Preferred Stock voting together as a single class on an as converted basis, were represented in person or by proxy, representing a quorum.
Proposal 1 - the Class I director nominees
Proposal 2 – the Company’s shareholders approved the full issuance of shares of common stock issuable by the Company pursuant to its Equity Line of Credit for purposes of complying with Nasdaq Listing Rule 5635(d).
Proposal 3 – the Company’s shareholders approved the Company‘s 2023 Equity Incentive Plan, as amended.
Proposal 4 –the Company’s shareholders ratified
Proposal 5 – the Company’s shareholders approved an amendment to the Company’s Amended and Restated Certificate of Formation to effect, at the sole discretion of the Board of Directors, a reverse stock split of all outstanding shares of the Company’s common stock, in the range of one-for-two (1-for-2) through one-for-one hundred (1-for-100), as determined by the Board of Directors.
Proposal 6 – the Company’s shareholders approved an amendment to the Company’s Amended and Restated Certificate of Formation to change the Company’s corporate name from “Heart Test Laboratories, Inc” to “HeartSciences”.
Proposal 8 - the Company’s shareholders approved one or more adjournments of the Annual Meeting to a later date or dates to solicit additional proxies if there are insufficient votes to approve any of the proposals at the time of the Annual Meeting.
Adjournment of Meeting
With respect to Proposal 7, an amendment to the Company’s Amended and Restated Certificate of Formation to lower the quorum for future meetings to one-third of the shares eligible to vote, as of the Annual Meeting date, approximately 49% of the shares eligible to vote had been voted in favor of the proposal. As a result, the Company adjourned the Annual Meeting solely with respect to this proposal until
The Annual Meeting, with respect to Proposal 7, will reconvene on
The Company strongly encourages all shareholders of record as of
About HeartSciences
For more information, please visit: https://www.heartsciences.com. Twitter: @HeartSciences
Safe Harbor Statement
This announcement 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 are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and are relating to the Company's future financial and operating performance. All statements, other than statements of historical facts, included herein are "forward-looking statements" including, among other things, statements about HeartSciences' beliefs and expectations. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. The expectations reflected in these forward-looking statements involve significant assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Potential risks and uncertainties include, but are not limited to, risks discussed in HeartSciences' Annual Report on Form 10-K for the fiscal year ended
Contacts:
HeartSciences
+1-682-244-2578 Ext. 2024 (US)
info@heartsciences.com
Investors
investorrelations@heartsciences.com
Source:
2024 GlobeNewswire, Inc., source