Business
HeartSciences Announces Results and Adjournment of Annual Shareholder Meeting
Southlake, TX, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (Nasdaq: HSCS; HSCSW) ("HeartSciences" or the "Company"),
About this update from Heartsciences Inc.
[{"type":"text","content":"Southlake, TX, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (Nasdaq: HSCS; HSCSW) (\"HeartSciences\" or the \"Company\"), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, announced today the results of the Company’s 2024 Annual Meeting of Shareholders (the “Annual Meeting”) as well as an adjournment of the Annual Meeting as outlined below. At the Annual Meeting which was convened, all items of business were passed, with the exception of Proposal 7, which would effect a reduction of the quorum requirements for future shareholder meetings, as the Company had not received sufficient proxies for approval by the time of the Annual Meeting. Accordingly, the meeting was convened and adjourned solely in respect of proposal 7. Andrew Simpson, CEO, commented, “We are delighted to have received the support of our shareholders to pass a number of important resolutions and thank our shareholders for their participation.\" Results of Annual Meeting At the Annual Meeting, approximately 54.37% of the Company’s outstanding shares of common stock and Series C Preferred Stock voting together as a single class on an as converted basis, were represented in person or by proxy, representing a quorum. Proposal 1 - the Class I director nominees Brian Szymczak and Bruce Bent, and Class II director nominees Mark Hilz and David R. Wells were re-elected, in each case to the Company’s Board of Directors. Each director nominee received a plurality of votes cast at the Annual Meeting. Proposal 2 – the Company’s shareholders approved the full issuance of shares of common stock issuable by the Company pursuant to its Equity Line of Credit for purposes of complying with Nasdaq Listing Rule 5635(d). Proposal 3 – the Company’s shareholders approved the Company‘s 2023 Equity Incentive Plan, as amended. Proposal 4 –the Company’s shareholders ratified Haskell & White LLP as the Company’s independent registered public accounting firm for the year ending April 30, 2024. Proposal 5 – the Company’s shareholders approved an amendment to the Company’s Amended and Restated Certificate of Formation to effect, at the sole discretion of the Board of Directors, a reverse stock split of all outstanding shares of the Company’s common ...