Current Report Filing (8-k)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 5, 2022

ALSET INC.

(Exact name of registrant as specified in its charter)

Texas

001-39732

83-1079861

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

4800 Montgomery Lane
Suite 210
Bethesda, Maryland 20814		20814
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (301) 971-3940

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Ticker symbol(s)		Name of each exchange on which registered
Common Stock, $0.001 par value per share		AEI		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.07 Submission of Matters to a Vote of Security Holders

On December 5, 2022, Alset Inc. (the “Company”) held its 2022 Annual Meeting of Stockholders (the “Annual Meeting”). As of October 11, 2022, the date of record for determining the stockholders entitled to vote on the proposals presented at the Annual Meeting, there were 148,507,188 shares of Company common stock, par value $0.001, issued and outstanding and entitled to vote at the Annual Meeting. A total of 112,021,672 shares of common stock, constituting a quorum, were represented virtually or by valid proxies at the Annual Meeting. The final results for each of the matters submitted to a vote of the Company’s stockholders at the Annual Meeting are as follows:

Proposal 1. At the Annual Meeting, the terms of seven (7) members of the Board expired. All of the seven (7) nominees for director were elected to serve until the next annual meeting of stockholders or until their successors are elected and qualified, or until such director’s prior death, resignation, retirement, disqualification or removal. The result of the votes to elect the seven (7) directors was as follows:

Directors	For		Withheld		Broker Non-Votes
Chan Heng Fai		103,229,238		1,256,508		7,535,926
Wong Tat Keung		101,507,285.92		2,978,460.08		7,535,926
William Wu		101,357,108		3,128,638		7,535,926
Wong Shui Yeung		101,512,397.92		2,973,348.08		7,535,926
Lim Sheng Hon Danny		103,014,334		1,471,412		7,535,926
Joanne Wong Hiu Pan		103,173,815		1,311,931		7,535,926
Chan Tung Moe		103,179,737		1,306,009		7,535,926

Proposal 2. At the Annual Meeting, the stockholders ratified the appointment of Grassi & Co., CPAs, P.C. as the Company’s independent registered public accounting firm for the year ending December 31, 2022. The result of the votes to ratify the appointment of Grassi & Co., CPAs, P.C. was as follows:

For			Against			Abstain
111,806,608			165,352			49,712

Proposal 3. At the Annual Meeting, the stockholders approved a reverse stock split of the Company’s common stock at a ratio of 1-for-20 and an amendment of the Company’s Certificate of Formation to effect the reverse stock split. The result of the votes to effect the reverse stock split of the Company’s common stock at a ratio of 1-for-20 and amend the Company’s Certificate of Formation was as follows:

For			Against			Abstain			Broker Non-Votes
102,873,012			1,591,711			21,023			7,535,926

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.