Spectra Systems Corporation Annual General Meeting Update (7115B)

TIDMSPSY TIDMSPSC

RNS Number : 7115B

Spectra Systems Corporation

14 June 2021

Spectra Systems Corporation

("The Company" or "Spectra")

Annual General Meeting Lack of Quorum

Spectra (AIM: SPSY.L) announces that, having received only 23 ballots, it does not have enough shareholder votes to achieve a quorum to transact business at its scheduled 2021 Annual General Meeting on 14 June 2021. The presence in person or by proxy, duly authorized, of the holders of a majority of the outstanding shares of stock entitled to vote constitutes a quorum.

A summary of the votes received is as follows:

 
 Resolution                  For       Against   Discretion   Withheld      Total 
 Elect BJ Penn 
  as Director             10,291,057         -      587,861           -   10,878,918 
                         -----------  --------  -----------  ----------  ----------- 
 Elect Nabil Lawandy 
  as Director             10,291,057         -      587,861           -   10,878,918 
                         -----------  --------  -----------  ----------  ----------- 
 Elect Jeremy 
  Fry as Director         10,291,057         -      587,861           -   10,878,918 
                         -----------  --------  -----------  ----------  ----------- 
 Elect Donald 
  Stanford as Director    10,291,057         -      587,861           -   10,878,918 
                         -----------  --------  -----------  ----------  ----------- 
 Ratification 
  of Appointment 
  of Independent 
  Auditor                  7,945,257   587,861            -   2,345,800   10,878,918 
                         -----------  --------  -----------  ----------  ----------- 
 

Total shares of stock outstanding as of the record date of 19 April 2021 was 45,565,335. Therefore, only approximately 24% of the shares of stock were voted.

Enquiries:

Spectra Systems Corporation

Dr. Nabil Lawandy (Chief Executive Officer) Tel: [phone]

WH Ireland Limited

Chris Fielding (Managing Director, Corporate Finance) Tel: [phone]

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June 14, 2021 02:00 ET (06:00 GMT)