DESTINY MEDIA TECHNOLOGIES INC. (OTCMKTS:DSNY) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosures.
The Company has received a proposal by its former CEO to nominate four directors for election to the Company\’s Board of Directors at the Company\’s 2021 Annual Meeting of Shareholders.
On November 20, 2020, the Company\’s Board of Directors (the \”Board\”), acting upon the recommendation of the Board\’s Corporate Governance and Nominating Committee, unanimously determined that the purported notice of nominations from Mr. Vestergaard (the \”Notice Letter\”) does not comply with Section 5 of the Bylaws, and that, accordingly, Mr. Vestergaard has not submitted to the Company a proper advance notice of nominations in compliance with the Bylaws.
A copy of the Response Letter is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated into this Item 8.01 by reference.
Important Additional Information
The Company, its directors and certain of its executive officers are participants in the solicitation of proxies from the Company\’s shareholders in connection with the Company\’s 2021 Annual Meeting of Shareholders. The Company intends to file a proxy statement and white proxy card with the Securities and Exchange Commission (the \”SEC\”) in connection with any such solicitation of proxies from the Company\’s shareholders. SHAREHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ SUCH PROXY STATEMENT, ACCOMPANYING WHITE PROXY CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Information regarding the names of Company\’s directors and executive officers and their respective interests in the Company by security holdings or otherwise can be found in the Company\’s proxy statement for its 2020 Annual Meeting of Stockholders, filed with the SEC on February 2, 2020. To the extent that holdings of the Company\’s securities have changed, such changes have been set forth in SEC filings on Forms 3, 4 and 5, which can be found through the SEC\’s website at www.sec.gov. Information can also be found in the Company\’s other SEC filings, including the Company\’s definitive proxy statement for the 2020 Annual Meeting of Shareholders and its Annual Report on Form 10-K for the fiscal year ended August 31, 2020. Updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the Company\’s definitive proxy statement and other materials to be filed with the SEC in connection with the 2021 Annual Meeting of Shareholders. Shareholders will be able to obtain any proxy statement, any amendments or supplements to the proxy statement and other documents filed by the Company with the SEC at no charge at the SEC\’s website at www.sec.gov. Copies will also be available at no charge at the Company\’s website at www.dsny.com in the section \”Investors.\”
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
DESTINY MEDIA TECHNOLOGIES INC Exhibit
EX-99.1 2 exhibit99-1.htm EXHIBIT 99.1 Destiny Media Technologies,…
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About DESTINY MEDIA TECHNOLOGIES INC. (OTCMKTS:DSNY)
Destiny Media Technologies, Inc. develops and markets services that enable the secure distribution of digital media content over the Internet. The Company’s services are based around security, watermarking and instant play streaming media technologies. The Company’s products and services include Clipstream Online Video Platform (OVP), Clipstream Online Video Platform and Play MPE. The Clipstream Online Video Platform is a self-service system for encoding, hosting and reporting on video playback, which can be embedded in third-party Websites or e-mails. With the JavaScript codec approach, the Company offers various features, such as security, interactivity and proofing of content. Play MPE is a digital delivery service for moving broadcast audio, video, images, promotional information and other digital content securely through the Internet.