Sundial Postpones Special Meeting Of Shareholders, Unable To Reach Quorum

Sundial Growers Inc.’s SNDL 2022 annual and special meeting of shareholders convened on July 21, at 1 p.m. (MDT) has been adjourned to July 25, 2022 at 8 a.m. (MDT), without any business being considered, due to a lack of quorum.

At the time the meeting was adjourned, proxies had been submitted by shareholders representing 12.95% of the company's common shares outstanding and entitled to vote, which did not constitute the requisite 25% quorum pursuant to Sundial's bylaws and the interim order granted by the Court of Queen's Bench of Alberta in respect of the meeting. Based on the votes cast by proxy to date, all resolutions currently have the requisite levels of support from shareholders. The board of directors of Sundial believes that the approval of all matters set out in the company's management information circular dated June 21, 2022 is in the best interests of the company and its shareholders.

Under the by-laws of the company and the interim order, those shareholders who attend the meeting on July 25, 2022, in person or by proxy, shall constitute a quorum and the meeting will proceed at that time. As such, the deadline for submission of proxies will not be extended. Proxies previously submitted with respect to the meeting will be voted on all proposals at the adjourned meeting unless properly revoked and shareholders who have previously submitted a proxy or otherwise voted need not take any action.

Photo by Esteban Lopez on Unsplash

Sundial Growers Enters Into Bid Agreement For Zenabis Global Inc.'s Assets, Here's What We Know

Here's Why Investors Should Keep An Eye On Sundial Stock, Analyst's Thoughts Post Q1 Earnings

Market News and Data brought to you by Benzinga APIs