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Electrovaya Announces Results of Annual Shareholders' Meeting and Update on Outstanding Debentures
TORONTO, ONTARIO / ACCESSWIRE / March 27, 2020 / Electrovaya Inc. (TSX:EFL),(OTCQB:EFLVF) ...
About this update from Electrovaya Inc.
[{"type":"text","content":"Electrovaya Announces Results of Annual Shareholders’ Meeting and Update on Outstanding DebenturesTORONTO, ONTARIO / ACCESSWIRE / March 27, 2020 / Electrovaya Inc. (TSX:EFL),(OTCQB:EFLVF) (the \"Company\") is pleased to announce that all of the resolutions that shareholders were asked to consider at its 2020 Annual Meeting held on March 27th, 2020 in Toronto, Ontario, were approved. The six directors named in the management information circular of the Company, being Dr. Sankar Das Gupta, Dr. Bejoy Das Gupta, Dr. James Jacobs, Dr. Alexander McLean, Dr. Carolyn Hansson and Mr. John A. Macdonald, were each elected as directors by over 96% of the votes cast for and less than 4% of the votes withheld at the Meeting for each director individually. Detailed results of the vote are set out below:NomineeVotes ForVotes WithheldPercentage of Votes ForPercentage of Votes WithheldDr. Sankar Das Gupta38,200,847510,55498.68%1.32%Dr. Bejoy Das Gupta37,288,5971,422,80496.32%3.68%Dr. Alexander McLean38,516,537194,86499.50%0.50%Dr. Carolyn Hansson37,630,4371,080,96497.21%2.79%Dr. James K. Jacobs37,645,0971,066,30497.25%2.75%Mr. John A. Macdonald37,649,3911,062,01097.26%2.74% Goodman & Associates LLP, were re-appointed as the auditors of the Company.Additional details will be included in the report of voting results filed under the Company's profile on SEDAR at www.sedar.com.Update with Respect to Settlement of Outstanding Debentures The Company's 9% convertible unsecured subordinated debentures (the \"Debentures\") issued to an institutional investor in the principal amount of $15 million mature on March 27, 2020. The Company is in negotiations with the debenture holder and its secured lenders with respect to the Debentures. The Company will update the market with additional information as soon as it is available.For more information, please contact:Electrovaya Inc.Email: [email protected]: (905) 855-4618About Electrovaya Inc.Electrovaya Inc. (TSX:EFL),(OTCQB: EFLVF) designs, develops and manufactures proprietary lithium ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation and other specialized applications. Electrovaya is a technology-focused company with extensive IP. Headquartered in Ontario, Canada, Electrovaya has production facilities in Canada with customers around t...