Item 5.07 Submission of Matters to a Vote of Security Holders
On
The Merger is part of a reorganization proposed by the Company in connection with its previously announced pursuit of strategic alternatives. The Company's board of directors intends to evaluate the status of efforts to sell the Company or its remaining operating businesses and complete the Merger and related reorganization at such time as it determines will be in the best interests of the Company and its shareholders. Completion of the Merger is subject to the satisfaction or waiver of various conditions and may be abandoned or postponed by the Company at any time prior to its effectiveness.
Of the total 87,505,452 shares of common stock outstanding as of the record date
of
The matters voted upon and the results of the vote at the Special Meeting of shareholders were as follows:
Proposal 1 - Merger Proposal: The Company's shareholders voted to adopt the Merger Agreement:
Votes For Votes Against Abstain 61,126,453 130,493 98,944
Proposal 2 - Adjournment Proposal: To adjourn the Special Meeting to a later date or dates, if necessary or appropriate, to solicit additional proxies if there are insufficient votes at the time of the Special Meeting to approve the Merger Proposal:
In connection with the Special Meeting, the Company solicited proxies with respect to the Adjournment Proposal. Because there were sufficient votes from Company shareholders to approve the Merger Proposal, adjournment of the Special Meeting was unnecessary and the Adjournment Proposal was not called.
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