BEIJING, May 10, 2017 /PRNewswire/ -- Lianluo Smart Limited (ticker: LLIT) ("Lianluo Smart" or the "Company") has announced the matters to be voted on at the upcoming Annual General Meeting of shareholders (the "AGM") to be held on June 8, 2017 at the Company's headquarters in Beijing.
You may vote if you owned common shares of the Company as of the close of business on May 1, 2017. Each common share is entitled to one vote. As of May 1, 2017, we had 17,312,586 common shares outstanding. If you are a shareholder of record, you may vote in person at the meeting. If you hold your shares through an account with a bank or broker, please follow the directions provided to you by your bank or broker. If you wish to vote in person at the meeting, please contact your bank or broker to learn the procedures necessary to allow you to vote your shares in person.
Shareholders will vote on the following proposals:
The amendment and restatement of the Company's Amended and Restated Memorandum and Articles of Association (the "New M&AAs") in order that the Company's authorized share capital be re-classified and re-designated into 50,000,000 Common Shares of par value of US $0.002731 each, of which 37,888,889 would be designated as Class A Common Shares of par value of US$0.002731 each (the "Class A Common Shares") and 12,111,111 be designated as Class B Common Shares of par value of US$0.002731 each (the "Class B Common Shares");
Following the approval of the New M&AAs, as proposed in Proposal Three, the conversion of all Class B Common Shares into the same number of Class A Common Shares as soon as the Class B shareholders in aggregate beneficially own less than 605,555 Class B Common Shares, which is equivalent to 5% of the total issued and outstanding Class B Common Shares as of the expected date of effectiveness of the New M&AA;
The approval of the form of the Company's New M&AA;
The election of two Class I members of the Board of Directors, each to serve a term expiring at the Annual Meeting of Shareholders in 2020 or until their successors are duly elected and qualified;
The ratification of the appointment of HHC, CPA as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2017.
To learn more details on the voting and the AGM, please visit the website of SEC for the full version of the proxy statement.
About Lianluo Smart Limited
Lianluo Smart Limited is a professional intelligent smart products provider, which develops, markets and sells medical wearable devices, intelligent smart devices and ecosystem platform in China. The medical wearable devices sector's major products are wearable sleep respiratory devices. It provides medical-grade detection and monitoring to OSA (Obstructive Sleep Apnea) syndrome patients. The smart devices sector is specialized in easy-using smart devices for sports, social contact, entertainment, remote-control and family health management. The smart ecosystem platform interconnects things and things, things and human. Lianluo Smart is endeavoring to become a leading provider of intelligent smart products both in domestic and international markets. More information may be found at http://lianluosmart.com/.
For more information, please contact:
Lianluo Smart Limited
+86 10-8860-9850 ext 852