COVISINT CORPORATION (NASDAQ:COVS) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07
On July25, 2017, Covisint Corporation (the “Company”) held a special meeting of its shareholders (the “Special Meeting”) at which the shareholders of the Company considered and acted upon the following proposal, which is set out in more detail in the Company’s definitive proxy statement filed with the U.S. Securities and Exchange Commission on June26, 2017 and mailed to the shareholders of the Company on June26, 2017:
1.To approve the Agreement and Plan of Merger (as it may be amended from time to time, the “Merger Agreement”), dated as of June5, 2017, among the Company, Open Text Corporation, a Canadian corporation (“OpenText”), and Cypress Merger Sub, Inc., a Michigan corporation and wholly owned subsidiary of OpenText (“Merger Sub”).
The results with respect to the proposal are as follows:
|
Proposal |
Vote results | Vote type | Voted | Percentageof Shares
Voted (%) |
PercentageofOutstanding
Shares (%) |
|
Approval of the Merger Agreement among the Company, OpenText and Merger Sub |
Approved | For | 21,331,741 | 60.76 | 52.17 |
| Against | 13,709,858 | 39.05 | 33.53 | ||
| Abstain | 62,298 | 0.17 | 0.15 | ||
| BrokerNon Votes |
Adjournment of the Special Meeting
Because shareholders holding at least a majority of the shares of the Company’s common stock outstanding and entitled to vote at the close of business on June15, 2017, the record date, approved the Merger Agreement, the vote on the proposal to approve an adjournment of the Special Meeting if necessary or appropriate, including to solicit additional proxies if there are insufficient votes at the time of the special meeting to approve the Merger Agreement, was not called.
About COVISINT CORPORATION (NASDAQ:COVS)
Covisint Corporation provides an open, enterprise class cloud platform (Platform) enabling organizations to build solutions that identify, authenticate and connect users, devices, applications and information. The Company’s Auto Supply Portal is involved in the development and integration of three cloud-based technologies, such as identity management, data integration and exchange services, and portal services. The Company’s Platform is delivered through the cloud as a Platform as a Service (PaaS). The Company’s Platform supports production-critical applications, and offers security, scalability and reliability. The Platform’s various capabilities include Identity services, Messaging and orchestration services and Internet of Things (IoT) Services. Its customers include large, across the globe distributed organizations and mid-sized organizations with external business relationships, as well as the participants in their business relationships.
