XpresSpa Announces Results of Annual Meeting of Stockholders
October 02 2019 - 7:36PM
XpresSpa Group, Inc. (Nasdaq: XSPA), a health and wellness company,
announced that at the Annual Meeting of Stockholders, which was
held earlier today in New York City, all ballot proposals put forth
by management for consideration were approved by stockholders, with
over 83% of the aggregate outstanding shares of the Company’s
common stock, Series D Preferred Stock, and Series E Preferred
Stock having voted.
Doug Satzman, XpresSpa Group CEO, stated, “We
sincerely thank our stockholders for approving all of the ballot
proposals that were voted upon at today’s annual meeting. With our
stockholders’ support, we now have the flexibility needed to
execute on our nearer-term and longer-term priorities and build
upon what we have already accomplished over the past several months
in strengthening our business.”
Included among the ballot proposals,
stockholders approved the following:
- The re-election of Bruce Bernstein, Andy Heyer, Salvatore
Giardina, Douglas Satzman, and Donald Stout to our Board of
Directors, demonstrating their continued support of the existing
board. The board has also previously volunteered to restructure
compensation, shifting to more common stock incentives and less
cash to show the board’s support for the future of the
business.
- All aspects of the transactions that were announced on July 8,
2019 that required stockholders’ approval. These series of
transactions provide management with greater flexibility to operate
the business with a more straightforward equity structure.
- The conversion of Series D Preferred Stock to common stock,
which ensures a better alignment of objectives and results in the
Company having 13,881,448 shares of common stock outstanding;
and
- The expansion of the existing employee stock plan to allow
management to provide greater incentives for employees across the
whole organization.
About XpresSpa Group, Inc.
XpresSpa Group, Inc. (Nasdaq: XSPA) is a health
and wellness holding company. XpresSpa Group’s core asset,
XpresSpa, is a leading airport retailer of spa services and related
products, with 51 locations in 24 airports globally. XpresSpa
offers services that are tailored specifically to the busy travel
customer. XpresSpa is committed to providing exceptional customer
experiences with its innovative premium spa services, as well as
exclusive luxury travel products and accessories. XpresSpa serves
almost one million customers per year at its locations in the
United States, Netherlands, and the United Arab Emirates. To learn
more about XpresSpa Group, visit: www.XpresSpaGroup.com. To learn
more about XpresSpa, visit www.XpresSpa.com
Forward-Looking Statements
This press release may contain "forward-looking"
statements within the meaning of Section 27A of the Securities Act
of 1933, and Section 21E of the Securities Exchange Act of 1934.
These include statements preceded by, followed by or that otherwise
include the words "believes," "expects," "anticipates,"
"estimates," "projects," "intends," "should," "seeks," "future,"
"continue," or the negative of such terms, or other comparable
terminology. Forward-looking statements relating to expectations
about future results or events are based upon information available
to XpresSpa Group as of today's date, and are not guarantees of the
future performance of the company, and actual results may vary
materially from the results and expectations discussed. Additional
information concerning these and other risks is contained in
XpresSpa Group’s most recently filed Annual Report on Form 10-K,
Quarterly Report on Form 10-Q, recent Current Reports on Form 8-K
and other SEC filings. All subsequent written and oral
forward-looking statements concerning XpresSpa Group, or other
matters and attributable to XpresSpa Group or any person acting on
its behalf are expressly qualified in their entirety by the
cautionary statements above. XpresSpa Group does not undertake any
obligation to publicly update any of these forward-looking
statements to reflect events or circumstances that may arise after
the date hereof.
Investor Relations:ICRRaphael
Gross(203) 682-8253
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