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The five proposals voted on at today’s meeting related to the Company’s dual class structure, including the establishment of a latest termination date for the structure, as well as other corporate governance enhancements.
Each proposal required the affirmative vote of the holders of at least 66 2/3% of the voting power of the Company’s outstanding shares entitled to vote. The Company adhered to the “MFW” standard that required a majority vote of the Class A holders (Majority of the Minority Approval) as of the
These proposals are described in more detail in the Company’s proxy statement filed with the
“We would like to thank all of the institutions and individuals who took the time to discuss and consider our proposals. We are pleased to have received overwhelming support from the Class A shareholders that voted on the Company’s five proposals,” said Lise Buyer, Director, Chair of the Special Committee, of
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