Costar Technologies, Inc. Announces Results of 2023 Special Meeting of Stockholders

COPPELL, Texas, May 30, 2023 /PRNewswire/ -- Costar Technologies, Inc. (the "Company") (OTC Markets Group: CSTI) announced today the results of the Company's 2023 Special Meeting of Stockholders that was held on May 30, 2023. The results have been certified by Computershare, Inc., the Company's transfer agent. A representative of Computershare, Inc. attended the meeting and acted as the Inspector of Elections and Stockholder Votes.  

The certified results confirm the adoption and approval of the Agreement and Plan of Merger, dated as of March 23, 2023, as it may be amended from time to time, which we refer to as the "merger agreement," by and among Costar Technologies, Inc. and IDIS Co., Ltd. The merger is expected to close during the second quarter of 2023, subject to the satisfaction of customary conditions to closing.

The certified results were as follows:

Eligible Votes	1,649,165
Voted Total	1,135,179
Voted Total %	68.83 %

Proposal 1: Adoption and approval of the merger agreement

	Votes	Voted %	Outstanding %
For	1,060,621	93.43 %	64.31 %
Against	74,534	6.57 %	4.52 %
Abstain	24	0.00 %	0.00 %

About Costar Technologies, Inc.

Costar Technologies, Inc. develops, designs, manufactures, and distributes a range of security solution products including surveillance cameras, lenses, digital video recorders and high-speed domes. The Company also develops, designs, and distributes industrial vision products to observe repetitive production and assembly lines, thereby increasing efficiency by detecting faults in the production process. Headquartered in Coppell, Texas, the Company's shares currently trade on the OTC Markets Group under the ticker symbol "CSTI". Costar was ranked as the 40^th largest company in a&s magazine's Security 50 for 2020. Security 50 is an annual ranking by the magazine of the world's largest security manufacturers in the areas of video surveillance, access control and intruder alarms, based on sales revenue.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward–looking statements within the meaning of the federal securities laws. Investors are cautioned that statements in this press release which are not strictly historical statements including, without limitation, express or implied statements or guidance regarding the expected timing of the closing of the acquisition, and other statements identified by words like "believe," "expect," "may," "will," "should," "seek," or "could" and similar expressions, constitute forward–looking statements. Such forward–looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with: the risk that the proposed acquisition may not be completed in a timely manner, or at all; and the occurrence of any event, change or other circumstance that could give rise to the termination of the acquisition. Actual results may differ materially from those contemplated by these forward–looking statements. Therefore, you should not rely on any of these forward–looking statements. These forward–looking statements reflect management's current views and are based only on information currently available to us. The parties do not undertake to update, whether written or oral, any of these forward–looking statements to reflect a change in its views or events or circumstances, whether as a result of new information or otherwise, that occur after the date hereof except as required by law. 

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SOURCE Costar Technologies, Inc.