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LONDON - Cryptocurrency mining company Argo Blockchain (LON:ARB) plc (LSE:ARB; NASDAQ:ARBK) announced Tuesday that shareholders approved most resolutions at its adjourned annual general meeting, though two special resolutions related to pre-emption rights failed to receive the necessary majority.
According to a press release statement, shareholders passed ten ordinary resolutions, including the approval of the Annual Report and Accounts, the Directors’ Remuneration Report, and the appointment of Justin Nolan as a director of the company. Resolution 13, regarding notice of general meetings, was approved as a special resolution.
However, special resolutions 11 and 12, which would have granted the board authority to disapply pre-emption rights, did not receive the required majority to pass.
The company acknowledged significant opposition to several other resolutions that did pass, including the Directors’ Remuneration Policy (35.34% against), the reappointment of directors Maria Perrella (36.68% against) and Raghav Chopra (32.79% against), and authorities to allot shares (41.47% and 41.98% against).
In compliance with the QCA Code, Argo Blockchain stated it has "recognised the adverse votes and will consider and reflect on the votes cast and update the market in due course."
The meeting, held on July 1, saw participation from shareholders representing approximately 3.97% of the company’s issued share capital.
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