TOROTEL, INC. (OTCMKTS:TTLO) Files An 8-K Submission of Matters to a Vote of Security Holders

ME Staff 8-k

6 years ago

TOROTEL, INC. (OTCMKTS:TTLO) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07 Submission of Matters to a Vote of Security Holders.

On September17, 2018, the Company held its 2018 annual meeting of shareholders at its principal executive offices at 520 N. Rogers Road, Olathe, Kansas 66062. Set forth below are the voting results for each of the matters submitted to a vote of the shareholders.

Proposal 1

The Company’s shareholders elected the following directors to serve for three-year terms. The voting results are set forth below.

For	Authority Withheld	Broker Non-Votes
Dale H. Sizemore, Jr.	4,361,086	24,681	979,257
Richard A. Sizemore	4,361,086	24,681	979,257
Steven S. Still	4,360,476	25,291	979,257

Proposal 2

The Company’s shareholders ratified the appointment of RubinBrown LLP as the Company’s independent registered public accounting firm for the fiscal year ending April 30, 2019. The voting results are set forth below.

,
For	Against	Abstained
5,351,136	12,439	1,449

Proposal 3

The Company’s shareholders did not approve an amendment to the Corporation’s Articles of Incorporation to increase the number of authorized shares of common stock, par value$.01 per share, from 6,000,000 to 12,000,000. The voting results are set forth below.

For	Against	Abstained
2,035,785	3,328,726	513

About TOROTEL, INC. (OTCMKTS:TTLO)
Torotel, Inc. (Torotel) conducts its business through its subsidiary, Torotel Products, Inc. (Torotel Products). Torotel Products specializes in the custom design and manufacture of a range of precision magnetic components, consisting of transformers, inductors, reactors, chokes, toroidal coils, high voltage transformers, dry-type transformers and electro-mechanical assemblies. Torotel Products sells these products to original equipment manufacturers, which use them in products, such as aircraft navigational equipment, digital control devices, medical equipment, avionics equipment, down-hole drilling, conventional missile guidance systems, and other defense and commercial aerospace applications. Its products are used to modify and control electrical voltages and currents in electronic devices. Torotel Products has a line of approximately 400 hertz (Hz) miniature power transformers. Torotel Products has a primary base of over 20 customers.