Staffing 360 Solutions Announces Results of Proxy Votes and Passage of All Proposals
December 28 2021 - 8:36AM
Staffing 360 Solutions, Inc. (NASDAQ: STAF), a company executing an
international buy-integrate-build strategy through the acquisition
of staffing organizations in the United States and the United
Kingdom, announced today the ballot results from its 2021 Special
Meeting of Stockholders.
Approximately 66.97 percent of shares were
voted, or 11,552,488 shares of 17,249,150 total shares outstanding.
All three proposals passed.
- A total of 11,552,488 votes were cast in regard to proposal one
(amendment to Amend and Restate Certificate of Incorporation to
increase the number of authorized shares to 200,000,000),
representing approximately 67 percent of all shares. Of those
voting, 54.63 percent voted in favor of the proposal.
- With regard to proposal two (amendment to Amend and Restate
Certificate of Incorporation that further increases to the number
of shares of authorized Common Stock need not be subject to a class
vote under Delaware General Corporation Law), approximately 54.11
percent voted in favor of the amendment, while approximately 12.69
percent voted against it. Approximately 0.16 percent
abstained.
- A total of 7,125,016 votes were cast in regard to proposal
three (amendment to 2021 Omnibus Incentive Plan to increase number
of common stock shares available to 5,000,000). Approximately 86.21
percent voted in favor of the amendment, while approximately 13.78
percent voted against it and approximately 0.31 percent
abstained.
Brendan Flood, Chairman, CEO and President said,
“Stockholder approval for the passage of these measures was
important to enhance the Company’s ability to conduct business and
progress with our business plan - including future M&A
activities and our ability to be nimble and complete
transactions.
“While we continue to grow our business
organically, we are actively pursuing M&A opportunities. I look
forward to providing progress updates as available,” concluded
Flood.
About Staffing 360 Solutions,
Inc.Staffing 360 Solutions, Inc. is engaged in the
execution of an international buy-integrate-build strategy through
the acquisition of domestic and international staffing
organizations in the United States and United Kingdom. The Company
believes that the staffing industry offers opportunities for
accretive acquisitions and as part of its targeted consolidation
model, is pursuing acquisition targets in the finance and
accounting, administrative, engineering, IT, and light industrial
staffing space. For more information, visit
http://www.staffing360solutions.com. Follow Staffing 360 Solutions
on Facebook, LinkedIn and Twitter.
Forward-Looking StatementsThis
press release contains forward-looking statements, which may be
identified by words such as "expect," "look forward to,"
"anticipate," "intend," "plan," "believe," "seek," "estimate,"
"will," "project" or words of similar meaning. Forward-looking
statements are not guarantees of future performance, are based on
certain assumptions and are subject to various known and unknown
risks and uncertainties, many of which are beyond the Company's
control, and cannot be predicted or quantified; consequently,
actual results may differ materially from those expressed or
implied by such forward-looking statements. Such risks and
uncertainties include, without limitation, our ability to retain
our listing on the Nasdaq Capital Market; market and other
conditions; the geographic, social and economic impact of COVID-19
on the Company’s ability to conduct its business and raise capital
in the future when needed; weakness in general economic conditions
and levels of capital spending by customers in the industries the
Company serves; weakness or volatility in the financial and capital
markets, which may result in the postponement or cancellation of
customer capital projects or the inability of the Company’s
customers to pay the Company’s fees; the termination of a major
customer contract or project; delays or reductions in U.S.
government spending; credit risks associated with the Company’s
customers; competitive market pressures; the availability and cost
of qualified labor; the Company’s level of success in attracting,
training and retaining qualified management personnel and other
staff employees; changes in tax laws and other government
regulations, including the impact of health care reform laws and
regulations; the possibility of incurring liability for the
Company’s business activities, including, but not limited to, the
activities of the Company’s temporary employees; the Company’s
performance on customer contracts; negative outcome of pending and
future claims and litigation; government policies, legislation or
judicial decisions adverse to the Company’s businesses; the
Company’s ability to access the capital markets by pursuing
additional debt and equity financing to fund its business plan and
expenses on terms acceptable to the Company or at all; and the
Company’s ability to comply with its contractual covenants,
including in respect of its debt agreements, as well as various
additional risks, many of which are now unknown and generally out
of the Company’s control, and which are detailed from time to time
in reports filed by the Company with the SEC, including quarterly
reports on Form 10-Q, reports on Form 8-K and annual reports on
Form 10-K. Staffing 360 Solutions does not undertake any duty to
update any statements contained herein (including any
forward-looking statements), except as required by law.
Investor Relations Contact:Terri MacInnis, VP
of IRBibicoff + MacInnis, Inc.818.379.8500 x 2
terri@bibimac.com
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