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ARC Group Worldwide, Inc. Announces Voting Results from 2022 Annual Meeting of Shareholders and Target Date for Acquisition of RM2 International S.A.
ARC Group Worldwide, Inc. Announces Voting Results from 2022 Annual Meeting of Shareholders and Target Date for Acquisition of RM2 International S.A..
About this update from Rm2 International, Inc.
[{"type":"text","content":"ARC Group Worldwide, Inc. (“ARC” and the “Company”) (OTC Markets: ARCW), today announced voting results from its 2022 Annual Meeting of Shareholders held on January 18, 2022 (the “Annual Meeting”). The Company also announced its plans to close the acquisition of RM2 International S.A. (“RM2”) on February 1, 2022.2022 Annual Meeting ResultsAt the Annual Meeting, 18,180,076 shares of Company Common Stock, par value $.0005 per share (the “Common Stock”) was present at the Annual Meeting, in person or by proxy, representing 72.85 percent of outstanding shares of Company Common Stock. All issued and outstanding shares of the Company’s Series A-2 Preferred Stock, par value $.001 per share (the “Preferred Stock”) voted at the Annual Meeting. The Common Stock and the Preferred Stock voted together as a single class on all matters presented to the Company shareholders, constituting an aggregate of 32,742,520 voting shares present at the Annual Meeting, representing 82.86 percent of all issued and outstanding voting shares.The voting in respect of each proposal, as described in the Company’s proxy statement that was distributed and made publicly available in connection with the Annual Meeting (the “Proxy Statement”), resulted in the following shareholder actions:Proposal Number 1: Shareholders elected each of the following board nominees by a plurality of the votes cast, to serve until the next annual meeting or until their successors are elected and qualified:Alan G. QuashaAaron WillmanMichael J. DiniJedidiah D. RustEddie W. NeelyAdam TantleffProposal Number 2: Shareholders approved, by a majority of all votes cast, the ARC legacy business sale, legacy business sale agreements and further actions (the “Legacy Business Sale”).The RM2 AcquisitionAs previously announced on December 13, 2021, the Company plans to acquire RM2 International S.A. (“RM2”), a Luxembourg Société Anonyme which has developed a type of composite pallet to replace wooden pallets that includes “smart” Internet of Things or (“IoT”) technologies to improve logistics. RM2 is targeting industries such as food and other industries where hygiene is of extreme importance. The tentative closing date for the RM2 acquisition has been set for February 1, 2022. At the closing, a group of existing and new investors to RM2, including PMB Inves...