SHINECO, INC. (NASDAQ:TYHT) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07
The Special Meeting of Shareholders (the “Special Meeting”) of Shineco, Inc. (the “Company”) was held on July 10, 2020 at 9am China time. At the Special Meeting, the shareholders voted on the following proposals and cast their votes as described below.
Proposal 1. Shareholders approved an amendment to our certificate of incorporation to effect, at the discretion of our board of directors, a reverse stock split of our common stock at a ratio of not less than 1-for-2 and not greater than 1-for-25, subject to our board of directors’ authority to abandon such amendment (the “Reverse Stock Split Proposal”). The votes regarding this proposal were as follows:
| For | Against | Abstained/Withhold | |||
| 20,661,415 | 732,666 | 5,603 | |||
Proposal 2. Shareholders approved an adjournment of the Special Meeting, if necessary, to solicit additional proxies if there are not sufficient votes at the time of the Special Meeting to approve the Reverse Stock Split Proposal. The votes regarding this proposal were as follows:
| For | Against | Abstained/Withhold | |||
| 20,637,700 | 753,887 | 8,098 | |||
About SHINECO, INC. (NASDAQ:TYHT)
Shineco, Inc. is a holding company. The Company provides health and well-being focused plant-based products by using its subsidiaries’ and variable interest entities’ vertically- and horizontally-integrated production, distribution and sales channels. The Company operates through three segments: developing, manufacturing and distributing of specialized fabrics, textile products and other by-products derived from an indigenous Chinese plant called Apocynum Venetum, known as Bluish Dogbane (Luobuma); planting, processing and distributing of traditional Chinese medicinal herbal products, as well as other pharmaceutical products (Herbal products), and planting, processing and distributing of green and organic agricultural produce, as well as growing and cultivating of Chinese Yew trees (Agricultural products). It utilizes engineering technologies and biotechnologies to produce, among other products, Chinese herbal medicines, organic agricultural produce and specialized textiles.
