Concurrent Computer Corporation (NASDAQ:CCUR) Files An 8-K Submission of Matters to a Vote of Security Holders

Concurrent Computer Corporation (NASDAQ:CCUR) 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.

Story continues below

On December 13, 2017, Concurrent Computer Corporation (the “Company” or “we”) held a special meeting of stockholders (the “Special Meeting”) to vote on the following matters: (i) a proposal to approve the sale of our content delivery and storage business (the “Asset Sale”) to the Asset Purchase Agreement (as it may be amended from time to time, the “Asset Purchase Agreement”), dated as of October 13, 2017, by and between Vecima Networks Inc., a corporation existing under the laws of Canada, and the Company; (ii) to approve, on an advisory (non-binding) basis, certain compensation that may be paid or become payable to Concurrent’s named executive officers in connection with the Asset Sale; and (iii) to approve the adjournment of the Special Meeting to a later time or date, if necessary or appropriate (as determined in good faith by our board of directors), from time to time, to solicit additional proxies if there are insufficient votes at the time of the Special Meeting to approve the Asset Sale.

As of the close of business on November 3, 2017, the record date for the Special Meeting, there were 9,893,228 shares of the Company’s common stock issued and outstanding and entitled to vote at the Special Meeting. 6,187,710 shares of the Company’s common stock were represented in person or by proxy at the Special Meeting, constituting a quorum. A summary of the voting results for the proposals is set forth below:

Proposal 1: Approval of the Asset Sale:

The Company’s stockholders voted to approve the Asset Sale. The following are tabulated votes “For” and “Against” the Asset Sale, as well as the number of “Abstentions”:

For Against Abstained
5,723,140 401,020 63,550

Proposal 2: Approval, on an Advisory (Non-Binding) Basis, of Compensation that may be Payable to Certain Named Executive Officers in Connection with the Asset Sale

The Company’s stockholders approved on an advisory (non-binding) basis, specified compensation that may be paid or become payable to the named executive officers of the Company in connection with the Asset Sale. The following are the tabulated votes “For” and “Against” this proposal, as well as the number of “Abstentions”:

For Against Abstained
3,537,147 2,501,854 148,709

Proposal 3: Adjournment of the Special Meeting

Because the Company’s stockholders approved the Asset Sale, the vote on the proposal to approve the adjournment of the Special Meeting from time to time, if necessary or appropriate, to solicit additional proxies if there are insufficient votes at the time of the Special Meeting to approve the proposal to approve the Asset Sale was not called.

On December 13, 2017, the Company issued a press release announcing the approval of the Asset Sale by the stockholders. The press release is attached hereto as Exhibit 99.1 and is incorporated herein in its entirety by reference.

Item 5.07. Financial Statements and Exhibits.

(d) Exhibits.


CONCURRENT COMPUTER CORP/DE Exhibit
EX-99.1 2 tv481328_ex99-1.htm EXHIBIT 99.1   Exhibit 99.1   Concurrent Stockholders Approve Proposal to Sell Content Delivery & Storage Business to Vecima Networks   ATLANTA,…
To view the full exhibit click here

About Concurrent Computer Corporation (NASDAQ:CCUR)

Concurrent Computer Corporation is a software and solutions company that develops applications on a foundation of high performance Linux and storage technologies. The Company’s business is composed of two segments: products and services. Its content delivery solutions consist of software, hardware and services for streaming video content to various consumer devices and storing and managing content in the network. Its streaming video and storage products and services are deployed by service providers to support consumer-facing video applications, including live broadcast video, video-on-demand (VOD) and time-shifted video services, such as cloud-based digital video recording (cDVR). Its multi-workload, scale-out storage products are suited for a range of enterprise information technology (IT) and video applications. Its real-time solutions consist of real-time Linux operating system versions, development and performance optimization tools, simulation software and other system software.

An ad to help with our costs