PORTSMOUTH SQUARE, INC. (OTCMKTS:PRSI) 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.
The Fiscal 2019 Annual Meeting of the Shareholders of Portsmouth Square, Inc. (the “Company”) was held on February 26, 2020 at the Hilton San Francisco Financial District, 750 Kearny Street, San Francisco, California. At that meeting, all of management’s nominees: John V. Winfield, Jerold R. Babin, John C. Love, William J. Nance and Steve Grunwald were elected as Directors of the Company to serve until the next Annual Meeting. At the Annual Meeting, the shareholders also voted in favor of the ratification of the Audit Committee’s selection of Moss Adams LLP as the Company’s independent registered public accounting firm for the fiscal year ending June 30, 2020 and approved, in a non-binding vote, the compensation of our named executive officers.
The final tabulation of the votes follows:
Proposal (1) – Election of Directors:
| Steve Grunwald, Chair | John V. Winfield, Chair |
| John C. Love | Steve Grunwald |
| David Gonzalez, Advisor |
| –– |
About PORTSMOUTH SQUARE, INC. (OTCMKTS:PRSI)
Portsmouth Square, Inc. operates in San Francisco hotel industry. The Company’s principal business is conducted through its general and limited partnership interest in Justice Investors Limited Partnership (Justice). It operates through two segments: Hotel Operations, which is engaged in the operation of the Hilton San Francisco Financial District (the Hotel), and Investment Transactions, which includes the investment of its cash in marketable securities and other investments. As of June 30, 2016, Justice, through its subsidiaries, Justice Holdings Company, LLC, Justice Operating Company, LLC and Justice Mezzanine Company, LLC, owns the Hotel, which consists of a 543-room hotel property located at 750 Kearny Street, San Francisco, California, and related facilities, including a five level underground parking garage. It also invests in income producing instruments, corporate debt and equity securities, publically traded investment funds, mortgage backed securities and other companies.
