PARETEUM CORPORATION (NYSEMKT:TEUM) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
As previously reported on a Current Report on Form 8-K, filed with the Securities and Exchange Commission on March 30, 2017, Pareteum Corporation (the “Company”) entered into an agreement (the “Agreement”) with Saffelberg Investments NV (the “Holder”) to which the Company and the Holder amended the terms of, redeemed or effected conversion, as the case may be, of certain convertible promissory notes (the “Note(s)”) and warrants (the “Warrant(s)”) previously issued by the Company to the Holder. to the Agreement, the Company had agreed to immediately repay in cash a Note in the principal amount of $350,000, plus interest of $59,304.20.
On September 7, 2017, having not yet made full payment, the Company and Holder agreed to a repayment plan for the payment of the Note in the principal amount of $350,000. The Company shall pay an initial payment of $75,000 and then shall make all monthly payments starting October 2017 (payable latest by the 15th day of each month) of $20,000 per month until the full $350,000 plus all accrued and un-accrued interest is repaid, to Holder.
Item 5.07 Submission of Matters to a Vote of Security Holders.
The 2017 Annual Meeting of Stockholders (the “Annual Meeting”) of the Company was held on September 12, 2017 at 10:00 a.m. EDT. At the Annual Meeting, a total of 8,482,010 shares, or 58.5%, of the Company’s capital stock issued and outstanding as of the record date for the Annual Meeting were represented in person or by proxy. Set forth below is a brief description of each matter voted upon at the Annual Meeting and the voting results with respect to each matter.
1) To elect four directors to serve until the next annual meeting of stockholders and until their successors are duly elected and qualified.
Nominee | Votes For | Withhold |
Broker Non- Votes |
Robert H. Turner | 4,688,280 | 453,899 | 3,339,831 |
Yves van Sante | 4,841,858 | 300,321 | 3,339,831 |
Luis Jimenez-Tuñon | 4,870,824 | 271,355 | 3,339,831 |
Laura Thomas | 4,601,682 | 540,497 | 3,339,831 |
The four nominees for director were elected.
2) To ratify the 2017 Pareteum Corp. Long-Term Incentive Compensation Plan, including the reservation of 6,500,000 shares of common stock thereunder.
Votes For | Votes Against | Abstain | Broker Non-Votes |
4,055,350 | 1,054,164 | 32,665 | 3,339,831 |
The 2017 Pareteum Corp. Long-Term Incentive Compensation Plan was ratified.
3) To ratify the appointment of SquarMilner LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2017.
Votes For | Votes Against | Abstain |
6,941,016 | 907,546 | 627,448 |
The appointment of SquarMilner LLP was approved.
About PARETEUM CORPORATION (NYSEMKT:TEUM)
Pareteum Corporation, formerly Elephant Talk Communications Corporation, develops Communications Cloud Services Platform. The Company provides mobility, messaging and security services and applications, with a single-sign-on, application program interface (API) and software development suite. Its platform hosts integrated information technology (IT)/Back Office and Core Network functionality for mobile network operators, and for enterprises implement and leverage mobile communications solutions on a outsourced Software as a Service, Platform as a Service and/or Infrastructure as a Service basis: made available either as an on-premise solution or as a hosted service in the Cloud depending on the needs of its customers. It also delivers an Operational Support System (OSS) for channel partners, with APIs for integration with third party systems, workflows for complex application orchestration, customer support with branded portals and plug-ins for a multitude of other applications. PARETEUM CORPORATION (NYSEMKT:TEUM) Recent Trading Information
PARETEUM CORPORATION (NYSEMKT:TEUM) closed its last trading session up +0.06 at 1.05 with 4,538,699 shares trading hands.