AKERS BIOSCIENCES, INC. (NASDAQ:AKER) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07. Submission of Matters to a Vote of Security Holders.
On March 5, 2019, Akers Biosciences, Inc. (the “Company”) held a special meeting of shareholders (the “Special Meeting”). The number of shares of common stock of the Company (the “Common Stock”) entitled to vote at the Special Meeting was 12,482,708. The number of shares of Common Stock present or represented by valid proxy at the Special Meeting was 7,650,410. Greater than 33.34% of the shares of Common Stock outstanding and entitled to vote at the Special Meeting were present in person or by proxy, thereby constituting a quorum. All matters submitted to a vote of the Company’s stockholders at the Special Meeting were approved. The voting results reported below are final.
The following is a tabulation of the voting on the proposal presented at the Special Meeting:
Proposal 1: To approve the cancellation of the admission of the Company’s common stock of no par value to trading on AIM, a market operated by London Stock Exchange, and that the directors and officers of the Company be authorized to take all steps which are necessary or desirable in order to effect such cancellation (the “Cancellation Proposal”).
|Shares Voted For||Shares Against||Shares Abstaining|
On the basis of the above votes, the Cancellation Proposal was adopted. With the approval of the Cancellation Proposal, it is anticipated that trading in the Common Stock on AIM will cease, and the delisting will take effect, from 7.00 a.m. (GMT) on March 29, 2019. Upon the delisting becoming effective, finnCap Limited will cease to be the nominated adviser and broker to the Company in the UK and the Company will no longer be required to comply with the rules and corporate governance requirements to which companies admitted to trading on AIM are subject, including the AIM Rules. The Company will remain subject to the rules and corporate governance requirements promulgated by the SEC and NASDAQ.