Business
Greenway Granted a Temporary Restraining Order
Greenway Granted a Temporary Restraining Order.
About this update from Greenway Technologies, Inc.
[{"type":"text","content":"\nARLINGTON, Texas, March 27, 2019 (GLOBE NEWSWIRE) -- Greenway Technologies, Inc. (OTCQB: GWTI) announced today that the Company was granted a Temporary Restraining Order (TRO) by the District Court in Dallas County Texas preventing a group of dissident shareholders from conducting a Special Shareholders Meeting planned for April 4, 2019.\n Following a hearing March 26th, 2019 in Dallas County’s 298th District Court, a District Judge executed a TRO enjoining the shareholder group “and their officers, agents, servants, employees, and attorneys and those persons in active concert or participation from the following: holding the special shareholders meeting on April 4, 2019, or calling such meeting to order; attending or participating in the Special Meeting; voting the shares of Plaintiff owned by any Defendant at the Special Meeting, either directly or by granting a proxy to allow a non-defendant to vote said shares; voting any shares of Plaintiff owned by non-defendants with or by proxy at the Special Meeting; and serving as chairman at the Special Meeting.” The Judge scheduled a follow-up hearing to be held on April 8, 2019, at 9:00 am at the Dallas County District Court at which the Defendants must show cause, if any, as to why the Temporary Restraining Order should not be continued as a Temporary Injunction. GWTI is pleased with this ruling and continues to take necessary steps to schedule a Company-sponsored Annual Shareholders Meeting as soon as practicable. Once the meeting date and location are confirmed and approved, the Company will issue a press release describing details about the meeting and the meeting agenda. About Greenway Technologies, Inc. Based in Arlington, Texas, Greenway Technologies through its wholly owned subsidiary, Greenway Innovative Energy is engaged in the research and development of economical small-scale gas-to-liquids (GTL) syngas conversion systems that can be scaled to meet field requirements. The company’s patented technology has been realized in its recently completed first-generation commercial G-Reformer® unit, a unique component used to convert natural gas into synthesis gas and, when combined with a Fischer-Tropsch reactor and catalyst, to create liquid fuels. The G-Reformer® can be field-deployed to process a variety of natural gas streams including pipel...