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Share Name | Share Symbol | Market | Type |
---|---|---|---|
American Seniors Association Holding Group Inc (PK) | USOTC:AMSA | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.20 | 0.00 | 01:00:00 |
ATLANTA, Sept. 24, 2014 /PRNewswire/ -- American Senior Association, OTC-Pink: AMSA, held a shareholder's meeting in Atlanta, Georgia yesterday. A quorum representing over sixty seven million shares was present in person or via proxy.
AMSA's former officer Mr. Ryan and his counsel, and all shareholders, were afforded copies of the Notice of Calling of Shareholder's Meeting and Proxy. The only input they sought was that the meeting be held in Atlanta. The meeting was held in Atlanta. They were afforded the opportunity to object prior to the meeting, and they raised no objections at that time.
The meeting began, and counsel for the current Board of Directors John Higginbotham, Loretta Higgins and Carlos Ryerson, Mr. Ronald Kaufman, held proxies and various shareholders were present whereas there was a quorum of over sixty-seven million shares.
Mr. Ryan's counsel and other parties, including third parties, who were not shareholder made demand for records concerning early shareholders meetings, demands regarding certain shareholders issuances and other matter unrelated to the election of directors.
Mr. Kaufman stated that he was there for the sole purpose of the election of the board of directors and asked for all parties who wished to vote come forth and be heard.
The Special Shareholders meeting was held for the exclusive purpose of electing Directors to the Board of Directors. The past Director Mr. Randy Nichol's attempted to adjourn or "table the meeting" claiming that he had the majority of the shares present in person as the proxies did not allow for a vote on any matter other the electing the Directors. However Mr. Nichol's was unable to show a support of a majority of the shares present for the Quorum. Thus, Mr. Nichol's Motion was denied.
At that point those apparently opposed to the election of the three directors left the board meeting declaring victory. Mr. Kaufman asked Mr. Ryan's counsel if she was going to sit down and count the votes, she said no and left.
Mr. Ryan's counsel has objected to the meeting on the grounds that the proxies were illegal and lacked the grounds by which to call a shareholders meeting.
However, Mr. Ryan and his counsel had the opportunity to object or comment on the Proxies and Notice of Special Shareholder's Meeting. No objection was made until after a quorum was determined for the purpose of voting on the election of directors.
Mr. Kaufman, after determining there was a quorum, counted the votes. The following are the results of the election of the New Board of Directors of AMSA:
Voting in Favor of Randy Nichol's or abstaining: |
21,188,179 |
Voting in Favor of the three new directors |
46,190,299 |
Total of Votes Representing Quorum: |
67,378,468 |
Therefore, Higginbotham, Higgins and Ryerson are hereby elected as the new Board of Directors.
FORWARD-LOOKING STATEMENTS
The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements related to the future financial performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful execution of growth strategies, product development and acceptance, the impact of competitive services and pricing, general economic conditions, and other risks and uncertainties described in the Company's periodic filings with the OTC Markets.
SOURCE American Senior Association
Copyright 2014 PR Newswire
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