Item 5.07 Submission of Matters to a Vote of Security Holders.
On
A proposal to approve and adopt the agreement and plan of merger (the "Merger Agreement") by and between the Company andChina Jo-Jo Drugstores Holdings, Inc. , an exempted company incorporated under the laws of theCayman Islands and a wholly owned subsidiary of the Company ("CJJD Cayman"), which included a plan of merger required to be filed with the Register of Companies of theCayman Islands , substantially in the form as attached as Annex A to the Merger Agreement (the "Plan of Merger"), pursuant to which the Company will merge with and into CJJD Cayman, with CJJD Cayman as the surviving company upon the merger becoming effective, and whereby each issued and outstanding share of the common stock of the Company will be converted into the right to receive one ordinary share of CJJD Cayman (the "Redomicile Merger"). For Against Abstain 23,088,196 313,143 8,324
Pursuant to the foregoing votes, the Merger Agreement, the Plan of Merger and the Redomicile Merger contemplated thereunder were approved and adopted. The Company is proceeding with the completion of the Redomicile Merger and expects the transaction to become effective during the third quarter of the calendar year of 2021.
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