Shareholders reject proposal to increase authorized shares from 25M to 75M at Safe & Green special meeting

OLENOX INDUSTRIES INC.

Proposal to amend charter to increase authorized common shares to 75M and reduce preferred par value to $0.01 failed to pass.
Vote: 6,117,825 for, 1,227,765 against, 3,155,007 abstentions; quorum was present with >1/3 of shares.
As of June 9, 2023 record date, 15,935,009 shares outstanding; proposal required majority of votes cast (excluding abstentions) but not met.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

OLENOX INDUSTRIES INC. shareholders rejected Increase in Number of Authorized Shares of Common Stock and Preferred Stock at the 2023-07-31 meeting.

Proposal: charter amendment
Outcome: failed
Meeting: 2023-07-31

Exact text from the filing

Proposal 1. Increase in Number of Authorized Shares of Common Stock and Preferred Stock Proposal . The approval of an amendment to the Company’s Amended and Restated Certificate of Incorporation, as amended, to increase the number of authorized shares of common stock, par value $0.01 per share, from 25,000,000 to 75,000,000 and decrease the par value of the authorized shares of preferred stock from $1.00 per share to $0.01 per share. Based on the tabulation of votes, Proposal 1 did not receive the requisite votes and did not pass. The results of the voting for this proposal were as follows: Votes For Votes Against Abstentions Broker Non-Votes 6,117,825 1,227,765 3,155,007 0

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OLENOX INDUSTRIES INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-061972

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