REAL GOODS SOLAR, INC. (NASDAQ:RGSE) 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
On January 23, 2017, Real Goods Solar, Inc. (the Company) held a
special meeting of shareholders. The final voting results for
Proposal 1, the only matter submitted to a vote of shareholders
at the special meeting, was as follows:
The Companys shareholders approved a reverse stock split of all
of the outstanding shares of the Companys Class A common stock,
par value $0.0001 per share, at a specific ratio within a range
from one-for-five to one-for-thirty-five and to grant
authorization to our board of directors to determine, in its sole
discretion, the specific ratio and the timing of the reverse
stock split at any time before January 23, 2018, with the
following vote:
| For | Against | Abstain | Brokernon-votes | |||||||
| 14,546,169 | 6,485,099 | 26,778 |
The proxy statement for the special meeting also solicited
proxies with respect to a proposal for the adjournment of the
special meeting, if necessary to solicit additional proxies, in
the event that there were not sufficient votes at the time of the
special meeting to approve Proposal 1. The Company determined at
the time of the meeting that, as a result of the approval of
Proposal 1, a vote on Proposal 2 was not necessary. However,
based on the proxies received, Proposal 2 would have been
approved with the following vote had the Company called a vote on
Proposal 2:
| For | Against | Abstain | Brokernon-votes | |||||||
| 15,015,864 | 5,312,255 | 729,927 |
Item 8.01. Other Events.
On January 23, 2017, the Company held a special meeting of
shareholders where the Companys shareholders approved a reverse
stock split of all of the outstanding shares of the Companys
ClassA common stock, par value $0.0001, at a specific ratio
within a range of one-for-five to one-for-thirty-five. The
shareholders granted the Companys board of directors the
authority to determine, within a range of one-for-five to
one-for-thirty-five, in its sole discretion, the specific ratio
for and timing of the reverse stock split at any time before
January 23, 2018. Following the special meeting, the Companys
board of directors authorized a reverse stock split at a ratio of
one-for-thirty to become effective on January 25, 2017 at 11:59
pm Eastern Time.
REAL GOODS SOLAR, INC. (NASDAQ:RGSE) Recent Trading Information
REAL GOODS SOLAR, INC. (NASDAQ:RGSE) closed its last trading session down -0.005 at 0.195 with 3,810,195 shares trading hands.