Universal Biosensors amends bylaws to change voting standard to majority of votes cast

UNIVERSAL BIOSENSORS INC

Board approved amendment effective March 15, 2024 to change default voting standard for non-director matters.
New standard: approval requires 'for' votes exceed 'against' votes (majority of votes cast).
Prior standard required majority of shares present and entitled to vote.
Full text of amended and restated bylaws filed as Exhibit 3.1.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

UNIVERSAL BIOSENSORS INC: Amended bylaws to change default voting standard from majority of shares present to majority of votes cast; also clarified definition of affirmative vote of a majority of votes cast (effective 2024-03-15).

Change: bylaw amendment
Effective: 2024-03-15

Exact text from the filing

On March 15, 2024, the board of directors of Universal Biosensors, Inc. (the “Company”) approved an amendment to and restated the amended and restated bylaws of the Company (as amended and restated, the “Amended and Restated Bylaws”) effective immediately to change the default voting standard for any matter brought before any meeting of stockholders (other than the election of directors) from the approval by an affirmative vote by the holders of majority of the shares present and entitled to vote at such meeting to the approval by a majority of the votes cast by the stockholders on the matter at such meeting.

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Source: SEC EDGAR

accession 0001437749-24-008081

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