News yesterday on the best new MJ company ARRIS HOLDINGS INC. ANNOUNCE RESULTS OF THE AGSM, NAME CHANGE, STOCK SPLIT AND APPOINTMENTS
Arris Holdings Inc. has released the results of its annual general special meeting of shareholders, held on Feb. 7, 2014, in Surrey, B.C. At the meeting, shareholders voted in favour of motions to elect the company's nominees for directors: Charles Larsen, Reid Jilek, Donald Steinberg, Mikhail Gurfinkel and Sandy Janda.
The shareholders also approved a special resolution to change the name of the company to Global Hemp Group Inc. as the company intends to pursue business opportunities in the industrial hemp sector. It is anticipated that this will result in a fundamental change under the exchange policies and that the company must meet the requirements of the Canadian Securities Exchange at that time. The shareholders also approved a five-for-one stock split of the company's issued and outstanding shares.
In accordance with exchange policy, the common shares will begin trading on a poststock-split basis on Feb. 21, 2014, with a record date of Feb. 26, 2014. The company will continue trading on both the Frankfurt Stock Exchange and the Canadian Securities Exchange.
Arris believes that the stock split will enhance liquidity in the company. Currently the company has a total of 23,583,372 common shares issued and outstanding. Following the stock split the company will have a total of 117,916,860 common shares issued and outstanding.
The company has retracted its news release of Feb. 14, 2014, while it makes further submissions to the exchange in regard to the change of name and business.
Immediately following the meeting, the board reappointed the following senior officers: Charles Larsen as chief executive officer and Larry Tsang, chief financial officer.