Spectra Systems Corporation Annual General Meeting Lack of Quorum (9393D)

TIDMSPSY TIDMSPSC

RNS Number : 9393D

Spectra Systems Corporation

26 June 2023

Spectra Systems Corporation

("The Company" or "Spectra")

Annual General Meeting Lack of Quorum

Spectra (AIM: SPSY.L) announces that, having received only 17 ballots, it does not have enough shareholder votes to achieve a quorum to transact business at its scheduled 2023 Annual General Meeting on 26 June 2023. 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             13,631,770           -            -   1,354,874   14,986,644 
                         -----------  ----------  -----------  ----------  ----------- 
 Elect Nabil Lawandy 
  as Director             14,986,644           -            -           -   14,986,644 
                         -----------  ----------  -----------  ----------  ----------- 
 Elect Jeremy 
  Fry as Director         14,986,644           -            -           -   14,986,644 
                         -----------  ----------  -----------  ----------  ----------- 
 Elect Donald 
  Stanford as Director    13,631,770   1,354,874            -           -   14,986,644 
                         -----------  ----------  -----------  ----------  ----------- 
 Elect Dr Barbara 
  Paldus as Director      14,986,644           -            -           -   14,986,644 
                         -----------  ----------  -----------  ----------  ----------- 
 Ratification 
  of Appointment 
  of Independent 
  Auditor                  8,779,408   1,354,874            -   4,852,362   14,986,644 
                         -----------  ----------  -----------  ----------  -----------

Total shares of stock outstanding as of the record date of 26 June, 2023 was 45,059,114. Therefore, only approximately 33% 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 and Broker)      Tel: +44 (0)20 7220 1650 
 Chris Fielding (Managing Director, Corporate 
 Finance) 
 James Bavister (Assistant Director, Corporate 
 Finance) 
 Andrew de Andrade (Executive, Corporate Finance)       Tel: +44 (0)20 3328 5665 
 
 Allenby Capital Limited (Joint Broker) 
 Nick Naylor/James Reeve (Corporate Finance) 
 Amrit Nahal (Sales and Corporate Broking)

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END

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June 26, 2023 10:22 ET (14:22 GMT)

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