Ominto, Inc. (OTCMKTS:OMNT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On June 14, 2018, the Board of Directors (the “Board”) of Ominto, Inc., a Nevada corporation (the “Company”), appointed Samer Choucair and Troels Andersen as directors of the Company to fill vacancies on the Board.
As compensation for their services, each of Mr. Choucair and Mr. Andersen will receive $1,500 per month in cash and have been granted options to purchase 12,000 shares of the Company’s common stock at an exercise price of $0.31, vesting monthly over one year. Neither Mr. Choucair nor Mr. Andersen have been appointed to any committee of the Board, as the full Board has assumed the duties of each committee.
Other than as set forth herein, there are no arrangements or understandings between Mr. Choucair or Mr. Andersen and any person in connection with their appointments as directors of the Company, and there are no actual or proposed transactions between Mr. Choucair, Mr. Andersen or any of their related persons and the Company that would require disclosure under Item 404(a) of Regulation S-K in connection with their appointments as directors of the Company.
| Item 7.01 | Regulation FD Disclosure. |
On June 15, 2018, the Company issued a press release announcing the appointment of Mr. Choucair and Mr. Andersen as directors of the Company. A copy of the press release is furnished as Exhibit 99.1 to this Report.
In accordance with General Instruction B.2 of Form 8-K, the press release is deemed to be “furnished” and shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information and Exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.
On June 14, 2018, in connection with the appointment of Mr. Choucair and Mr. Andersen as directors, the Board appointed Michael Hansen, the Chief Executive Officer of the Company, to serve as Chairman of the Board.
Also, on June 14, 2018, the Board approved the promotion of Fiona Lewandowski from the position of Associate General Counsel and Acting General Counsel of the Company to General Counsel and Secretary of the Company.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
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Exhibit Number |
Description |
| 99.1 | Press Release dated June 15, 2018. |
Ominto, Inc. ExhibitEX-99.1 2 f8k061418ex99-1_omintoinc.htm PRESS RELEASE DATED JUNE 14,…To view the full exhibit click here
About Ominto, Inc. (OTCMKTS:OMNT)
Ominto, Inc. (Ominto), formerly DubLi, Inc., is engaged in online cash back shopping. The Company’s shopping portal serves customers in approximately 100 countries. Using its consumer-adaptive e-commerce sites, shoppers are linked and can browse third party Websites with different categories of products, which Websites feature, including international and local brands, travel, coupons, discounts and vouchers. The Company offers its product and service lines in the E-Commerce and Memberships segment, which includes business license fees, membership subscription fees and commission income, and advertising and marketing programs. The Company has adapted its Cash Back platform to serve over 10 international markets in approximately 10 languages and currencies. Its Websites feature various regional and international brands, including Amazon.com, Zalando, Groupon and Expedia. Its e-commerce platform allows consumers to shop at online stores and earn cash back with each purchase.