Adya, Inc. (“Adya” or the “Company”), (TSX-V:ADYA) announces voting results from the Annual and Special Meeting of Shareholders (the “Meeting”) held on July 28, 2022.
Shareholder Meeting
At the Meeting, 92.55% of the issued and outstanding shares were represented. Shareholders voted in favour of all resolutions brought before the Meeting. Details of all resolutions that were voted upon are set out in the Management Information Circular (the “Circular”) dated June 26, 2022. The Circular is available on SEDAR (www.sedar.com).
Election of Directors
All of the board of directors nominees listed in the Circular were elected as directors of Adya. Results of the vote were as follows:
|
Nominee
|
% Votes For
|
|
Samer Bishay
Magdi Wanis
Stephen Robert Gregory
Maged Bishara
|
99.83%
99.83%
99.84%
100%
|
Other Items of Business
In addition, at the Meeting, shareholders approved the re-appointment of Adya’s auditors, Clearhouse LLP and re-approved the Company’s Stock Option Plan. The results of the votes were as follows:
|
Items
|
% Votes For
|
|
Re-appointment of Clearhouse LLP as auditors of the Company
Re-approval of Stock Option Plan
|
100%
97.55%
|
Amendments to Stock Option Plan
The Company also announces it has made minor amendments to its stock option plan (the “Option Plan”) to align the Option Plan with recently updated Policy 4.4 of the TSX Venture Exchange relating to security-based compensation, as follows: (i) no more than 10% of the issued shares of the Company may be granted to insiders at any point in time; (ii) options under the Option Plan be granted only to bona fide Employees, Consultants or Management Company Employees; and (iii) disinterested shareholder approval is required when extending the term of insider options.
A copy of the amended Option Plan is available under the Company’s profile on SEDAR at www.sedar.com.
ABOUT ADYA
Adya is a publicly traded holding company, with offices located in Toronto, Canada, and currently a strategic shareholder in telecommunications and technology companies.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements in this press release may be “forward looking” statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Adya or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward looking statements. These forward looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof and Adya assumes no obligation, except as required by law, to update any forward looking statements to reflect new events or circumstances.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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