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Greenway Technologies Announces Results of Special Shareholders Meeting Held December 11, 2019
Greenway Technologies Announces Results of Special Shareholders Meeting Held December 11, 2019.
About this update from Greenway Technologies, Inc.
[{"type":"text","content":"\n ARLINGTON, TEXAS, Dec. 16, 2019 (GLOBE NEWSWIRE) -- Greenway Technologies, Inc. (OTCQB:GWTI), an advanced gas-to-liquids (“GTL”) technology development company, today announced that all four proposals submitted to Greenway’s stockholders at a special shareholders meeting held December 11, 2019, at the Hilton Hotel in Arlington, Texas passed overwhelmingly. Information regarding these proposals was included in the Company’s Proxy Statement DEF14A previously filed with the SEC on November 19, 2019 and provided to all shareholders of record as October 29, 2019 (the “Record Date”). The total number of Class A Shares eligible to vote as of the Record Date was 290,148,677. In accordance with the Company’s by-laws, 193,442,122 Class A Shares were required to be present or represented at the Special Meeting to constitute a quorum. The total number of Class A Shares present or represented at the Special Meeting was 243,531,479, constituting a quorum. At the Special Meeting, the following proposals were approved as follows: Proposal No. 1: The amendment to the Company’s certificate of formation (the “Certificate”) to increase the authorized shares of Class A Shares from 300,000,000 to 500,000,000 was approved by the stockholders of the Company (the “Stockholders”) by a vote of (a) 234,748,093 in favor, (b) 1,022,634 against and (c) 7,760,752 abstaining. Proposal No. 2: The amendment to the Certificate to change the name of the Class A Shares to “common stock”, with the same $0.0001 par value per share, designations, power, privileges, rights, qualifications, limitations, and restrictions as the current Class A Shares, was approved by the Stockholders by a vote of (a) 241, 961,104 in favor, (b) 236,624 against and (c) 1,333,751 abstaining. Proposal No. 3. The amendment to the Certificate to eliminate the Class B Shares of the Company, par value $0.0001 per share (the “Class B Shares”), as a class of stock of the Company was approved by the Stockholders by a vote of (a) 241,853,587 in favor, (b) 159,750 against and (c) 1,518,142 abstaining. Proposal No. 4. The amendment to the Certificate to specify the vote required to approve certain actions before the Stockholders, including “fundamental actions,” as defined by the Texas Busines...