Borqs Technologies Postpones Annual General Meeting of Shareholders to August 6, 2021

Rhea-AI Summary

Borqs Technologies, Inc. (Nasdaq: BRQS) announced the postponement of its annual general meeting scheduled for August 2, 2021, due to insufficient legal quorum. The adjourned meeting will now take place on August 6, 2021, at 10:00 AM EDT, at Sichenzia Ross Ference LLP in New York City. A quorum of one third of the ordinary shares outstanding, either in person or by proxy, is necessary to conduct the meeting. The company is optimistic about meeting the quorum requirements for the adjourned meeting.

Positive

• The adjourned meeting allows additional time for shareholders to participate.
• The company expects to satisfy the quorum requirements, suggesting shareholder engagement.

Negative

• Postponement of the meeting may indicate a lack of shareholder involvement or concerns.
• Failure to meet quorum on the initial date could reflect negatively on investor confidence.

SANTA CLARA, Calif., July 30, 2021 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of embedded software and products for the Internet of Things (IoT) and a portfolio company of Qualcomm Technologies, today announced the postponement of the annual general meeting of shareholders scheduled for August 2, 2021, since legal quorum requirements as set forth in the meeting’s convening notice were not met.

The Company has announced that the postponed annual general meeting of shareholders will convene on August 6, 2021 at 10:00am EDT, at the offices of Sichenzia Ross Ference LLP, 1185 Avenue of the Americas, 31/F, New York, NY 10036, USA.

A quorum of one third of the ordinary shares outstanding as of the record date, present in person or by proxy, will be required to conduct the adjourned meeting. The Company believes that it shall satisfy the quorum requirements for this adjourned meeting.

Investor Contact:
Sandra Dou
Vice President of Corporate Finance
Borqs Technologies, Inc.
sandra.dou@borqs.net
www.borqs.com

FAQ

Why was the annual general meeting for Borqs Technologies postponed?

The annual general meeting was postponed due to not meeting the legal quorum requirements.

When is the adjourned meeting for Borqs Technologies scheduled?

The adjourned meeting is scheduled for August 6, 2021, at 10:00 AM EDT.

What is required to conduct the adjourned meeting for Borqs Technologies?

A quorum of one third of the ordinary shares outstanding must be present, either in person or by proxy.

What are the implications of not meeting quorum for Borqs Technologies?

Not meeting quorum may reflect a lack of shareholder engagement and could impact investor confidence.