Summary by Moomoo AI
At Zoomcar's annual meeting on October 8, 2024, shareholders approved several key proposals with a 50.31% quorum present. The company received approval for a reverse stock split at a ratio between 1:50 and 1:150, to be determined at the Board's discretion. Stockholders also approved the exercise of Bridge Warrants for up to 55,084,746 shares at $0.1416 per share.Two Class I directors, Swatick Majumdar and John Clarke, were elected to serve three-year terms until 2027. The meeting also ratified Grant Thornton Bharat LLP as the company's independent registered public accounting firm for the year ending March 31, 2025.The reverse stock split will become effective upon the Board's approval of the specific ratio and filing of the amendment with Delaware's Secretary of State. All proposals received majority approval, with the reverse stock split garnering 32.9 million votes in favor versus 2 million against.
