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Posted On: 12/30/2020 3:53:56 PM
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NetworkNewsBreaks – Predictive Oncology (NASDAQ: POAI) Cancels Upcoming Special Meeting of Stockholders
Predictive Oncology’s (NASDAQ: POAI) Board of Directors has announced that it will cancel the Special Meeting of Stockholders that was scheduled for today. Originally scheduled for Dec. 1, 2020, the meeting was adjourned on that date and rescheduled for Dec. 30 because a quorum had not been reached. As of the rescheduled date, the required quorum had still not been reached, with only 47% of the outstanding shares having been voted. In cancelling the meeting, the Board of Directors for POAI, a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, noted that it was not practical to incur the cost of continuing to adjourn the meeting to solicit proxies, because approval of the reincorporation proposal would require not just a majority of the shares voted but the affirmative vote of a majority of the company’s outstanding shares. The board observed that nearly 88% of the shares that had been voted at the special meeting were in support of the proposed reincorporation of the company from Delaware to Nevada; the reason for that proposal is, in part, because of Delaware’s steep franchise taxes. The board will continue to pursue stockholder approval for reincorporation.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Predictive Oncology’s (NASDAQ: POAI) Board of Directors has announced that it will cancel the Special Meeting of Stockholders that was scheduled for today. Originally scheduled for Dec. 1, 2020, the meeting was adjourned on that date and rescheduled for Dec. 30 because a quorum had not been reached. As of the rescheduled date, the required quorum had still not been reached, with only 47% of the outstanding shares having been voted. In cancelling the meeting, the Board of Directors for POAI, a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, noted that it was not practical to incur the cost of continuing to adjourn the meeting to solicit proxies, because approval of the reincorporation proposal would require not just a majority of the shares voted but the affirmative vote of a majority of the company’s outstanding shares. The board observed that nearly 88% of the shares that had been voted at the special meeting were in support of the proposed reincorporation of the company from Delaware to Nevada; the reason for that proposal is, in part, because of Delaware’s steep franchise taxes. The board will continue to pursue stockholder approval for reincorporation.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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