ENGlobal Announces Annual Meeting Results

Rhea-AI Summary

ENGlobal Corporation's annual shareholders' meeting was held on June 29, 2023 in Houston. Majority of shares were cast in favor of the election of directors and ratification of Moss Adams as the auditor for fiscal year 2023. Proposals to amend the Articles of Incorporation also received affirmative votes.

Positive

• Majority of shares cast in favor of election of directors and ratification of Moss Adams as auditor for fiscal year 2023
• Proposals to amend Articles of Incorporation received affirmative votes

Negative

• None.

HOUSTON, TX / ACCESSWIRE / July 3, 2023 / ENGlobal Corporation's (NASDAQ:ENG) 2023 annual shareholders' meeting was held on June 29, 2023 in Houston.

Approximately 62% of ENGlobal's total common stock outstanding was represented at the meeting, either in person or by proxy. Of those shares, at least 95% were cast in favor of the election of William A. Coskey, P.E., Lloyd G. Kirchner, Christopher D. Sorrells, Kevin M. Palma, and Margaret K. Lassarat to a one-year term on our Board of Directors and approximately 99% were cast in favor of the ratification of the appointment of Moss Adams for the fiscal year 2023. Our proposals to amend our Restated Articles of Incorporation to effect, at the discretion of our Board, a reverse split of our common stock and to address an error and confirm the authority of the Board to issue "blank check" preferred stock received affirmative votes from a majority of the outstanding shares of common stock.

About ENG

ENGlobal Corporation is a leading provider of engineering project solutions for the traditional and renewable energy industry. ENGlobal operates through two business segments: Commercial and Government Services. The Commercial segment provides engineering, design, fabrication, construction management and integration of automated control systems. The Government Services segment provides engineering, design, installation, operations, and maintenance of various government, public sector, and international facilities, specializing in turnkey automation and instrumentation systems for the U.S. Defense industry. Further information about the Company and its businesses is available at www.englobal.com.

For further information, please email IR@englobal.com.

Safe Harbor for Forward-Looking Statements

The statements above regarding the Company's expectations, including those relating to its future results, its future operations and certain other matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws and are subject to risks and uncertainties. For a discussion of risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ENGlobal's filings with the Securities and Exchange Commission, including the Company's most recent reports on Form 10-K and 10-Q, and other SEC filings.

SOURCE: ENGlobal

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FAQ

What was the outcome of ENGlobal Corporation's annual shareholders' meeting?

The majority of shares were cast in favor of the election of directors and ratification of Moss Adams as the auditor for fiscal year 2023. Proposals to amend the Articles of Incorporation also received affirmative votes.