Item 5.07 – Submission of Matters to a Vote of Security Holders
On November 16, 2018, the registrant held its annual shareholders meeting. At the meeting, the shareholders re-appointed John Matthews, Facundo Bacardi, and Martin Doane to the Board of Directors and approved the 1 for 4 reverse split.
706,310,717 shares were voted out of 849,022,830 outstanding shares.
Mr. Matthews was reappointed with a total of 150,795,021 shares for, or 87.62% of the voted shares, and 21,312,049 shares against, or 12.38% of the voted shares.
Mr. Bacardi was reappointed with a total of 160,101,763 shares for, or 93.02% of the voted shares, and 12,005,307 shares against, or 6.98% of the voted shares.
Mr. Doane was reappointed with a total of 151,576,322 shares for, or 88.07% of the voted shares, and 20,530,748 shares against, or 11.93% of the voted shares.
The reverse split was approved with 524,957,076 shares for, or 74.32% of the voted shares, 177,238,042 shares against, or 25.09% of the voted shares, and 4,115,599 shares abstaining, or 0.58% of the voted shares.
The voting requirement for the directors was a plurality of the votes, and the voting requirement for the reverse stock split was a majority of voted shares, counting abstentions.