Spectra Systems Corporation Annual General Meeting Update (5497O)

TIDMSPSY TIDMSPSC

RNS Number : 5497O

Spectra Systems Corporation

13 June 2022

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              Tel: +44 (0)20 7220 1650 
 and Broker) 
 Chris Fielding (Managing Director, Corporate 
 Finance) 
 Andrew de Andrade (Executive, Corporate            Tel: +44 (0)20 3328 5665 
 Finance) 
 
 Allenby Capital Limited (Joint Broker) 
 Nick Naylor/James Reeve (Corporate Finance) 
 Amrit Nahal (Sales and Corporate Broking)

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.

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END

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June 13, 2022 02:00 ET (06:00 GMT)

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