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Creative Media & Community Trust Corp (NASDAQ:CMCT) adjourned its special meeting of stockholders this week after failing to secure enough votes to approve proposals for a reverse stock split. The company disclosed the results in a press release statement filed with the Securities and Exchange Commission.
At the special meeting held Tuesday, 62.33% of eligible shares, or 491,971 shares, were represented in person or by proxy. Stockholders were asked to consider three proposals to amend the company’s charter to effect a reverse stock split of common stock at ratios of 1-for-4, 1-for-7, or 1-for-10, at any time prior to September 23, 2026. A fourth proposal sought approval to adjourn the meeting to solicit additional proxies if there were insufficient votes for the reverse stock split proposals.
As the required votes were not reached for any of the reverse stock split proposals, only the adjournment proposal was brought to a vote. According to the filing, 374,139 shares were voted in favor of adjournment, 111,721 shares were voted against, and 6,111 abstained.
With approval of the adjournment, the company announced that the special meeting will reconvene on October 16, 2025, at 10:00 a.m. Pacific Time via webcast. The record date for the meeting remains August 26, 2025.
Creative Media & Community Trust Corp is a real estate investment trust based in Dallas, Texas. The information in this article is based on a press release statement filed with the SEC.
In other recent news, Creative Media and Community Trust Corporation (CMCT) announced its Q2 2025 earnings, which highlighted a challenging quarter for the company. The earnings report revealed a significant decline in key financial metrics, which has raised concerns among investors about the company’s financial performance and future outlook. Despite the detailed earnings call, the specifics of revenue and earnings figures were not disclosed in the available information. Analyst reactions to the earnings report have not been provided, leaving the market to interpret the results independently. The lack of detailed financial data in the report makes it difficult for investors to fully assess the company’s current financial standing. These recent developments have resulted in increased scrutiny from the investment community regarding CMCT’s future performance.
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