Company Approved to Extend Authorized Common Share Count to 425 Million Shares to Create Flexibility for Growth Strategy
MONTVALE, N.J., Dec. 23, 2021 (GLOBE NEWSWIRE) — MICT, Inc. (NASDAQ:MICT), (the “Company”), today announces the results of the proxy vote associated with the Company’s Annual Shareholder’s Meeting. All proposals were accepted by the stockholders, including the proposal to expand the Company’s number of authorized common share from 250,000,000 shares to 425,000,000 shares.
“We are delighted to have had such a successful turnout and support for our annual shareholder’s meeting,” commented Darren Mercer, MICT’s CEO. “In particular, the expansion of authorized common share count to 425 million, in combination with our generous cash reserves, will serve to create the flexibility we need to efficiently grow our business through potential partnerships and acquisitions. We are proud to have a shareholder base that supports our strategy and we look forward to a strong 2022 being in a much more favorable position to execute on that aggressive growth strategy.”
The Annual Shareholder Meeting was held today, December 23, 2021 at 11:00AM ET. In addition to the expansion of the number of authorized common shares, confirmation of Board members, the Company’s auditor, and an amendment to its Equity Incentive Plan were all approved by stockholders.
