UQM Technologies Reports Shareholder Meeting Actions
November 22 2016 - 12:21PM
Business Wire
UQM Technologies, Inc. (NYSE MKT: UQM), UQM Technologies,
Inc. (UQM) announced that at its 2016 Annual Meeting of
Shareholders, held earlier today, its shareholders voted to approve
the re-election of UQM’s Board of Directors, UQM’s executive
compensation on an advisory basis, amendments to increase the
number of shares available under UQM’s 2012 Equity Incentive Plan
and UQM’s Stock Bonus Plan and the ratification of UQM’s
independent registered public accountants. UQM’s shareholders also
approved the issuance and sale of 66.5 million newly issued shares
of UQM common stock to American Compass, Inc., a wholly-owned
subsidiary of Hybrid Kinetic Group Limited ("Hybrid Kinetic"),
which sale would result in Hybrid Kinetic indirectly owning a
majority of UQM’s outstanding common stock.
The meeting was adjourned with respect to two separate proposals
to amend UQM’s Articles of Incorporation: one proposal which, among
other things, would increase the number of shares of outstanding
stock to permit sufficient shares to be issued to Hybrid Kinetic’s
subsidiary and the other proposal which would reduce the voting
requirements for future amendments to the Articles of Incorporation
and other corporate actions from the current two-thirds threshold
to a majority threshold.
The meeting will reconvene on December 9, 2016, allowing
shareholders additional time to vote on the two proposals to amend
the articles of incorporation.
During the pendency of the adjourned meeting, shareholders
holding shares as of the record date of October 4, 2016, who have
not yet voted are encouraged to vote.
The adjourned meeting will be held on December 9, 2016 at 10:00
a.m., at the Company’s offices, 4120 Specialty Place, Longmont,
Colorado.
About UQM
UQM Technologies is a developer and manufacturer of power-dense,
high-efficiency electric motors, generators, power electronic
controllers and fuel cell compressors for the commercial truck,
bus, automotive, marine, military and industrial markets. A major
emphasis for UQM is developing propulsion systems for electric,
hybrid electric, plug-in hybrid electric and fuel cell electric
vehicles. UQM is TS 16949 and ISO 14001 certified and located in
Longmont, Colorado. For more information, please visit
www.uqm.com.
Source: UQM Technologies, Inc.
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version on businesswire.com: http://www.businesswire.com/news/home/20161122005873/en/
UQM Technologies, Inc.David
Rosenthal303-682-4900orEnergyTech Investor LLCShawn
Severson, 415-233-7094
UQM Technologies (AMEX:UQM)
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