IGC Announces Results of its 2020 Annual Stockholders Meeting
India Globalization Capital (NYSE AMERICAN: IGC) held its Annual Meeting of Shareholders on January 11, 2021, where all voting matters disclosed in the Definitive Proxy were approved. Key outcomes included the election of John E. Lynch to the Board of Directors, ratification of Manohar Chowdhry & Associates as auditors for FY 2021, and approval to grant up to 2,500,000 shares to employees and advisors based on performance metrics. Additionally, the frequency of 'say-on-pay' votes was set to every three years.
- Election of John E. Lynch to the Board enhances governance.
- Ratification of existing auditors increases trust and consistency.
- Approval to grant 2,500,000 shares may boost employee morale and performance.
- None.
India Globalization Capital, Inc. (NYSE AMERICAN: IGC) announces that during its Annual Meeting of Shareholders scheduled for, and convened on January 11, 2021, voting on all matters as disclosed on the Definitive Proxy on Form 14A filed with the SEC on December 8, 2020 were passed. Only stockholders of record on the record date of November 20, 2020, were entitled to and were being requested to vote.
At the Annual Meeting, the following proposals were approved: (i) the election of John E. Lynch to the Company’s Board of Directors; (ii) the proposal to ratify Manohar Chowdhry & Associates (“MCA”) as the Company’s independent registered public accounting firm for the 2021 fiscal year; (iii) the grant of 2,500,000 shares of common stock to be granted from time to time to the Company’s current and new employees, advisors, directors, and consultants by the board of directors, pursuant to certain metrics including performance, vesting, and incentive as set by the board of directors and or the CEO; (iv) the compensation of the Company’s named executive officers; (v) the frequency of say-on-pay at future annual meetings of stockholders to every three years; and (vi) the proposal to adjourn or postpone of the Annual Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies.
About IGC
IGC has two lines of business: infrastructure and life sciences, including hemp-derived medical cannabis/industrial hemp. The company is based in Maryland, U.S.A. Our website: www.igcpharma.com, www.igcinc.us. Twitter @IGCIR.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210113005929/en/
FAQ
What proposals were approved at India Globalization Capital's Annual Meeting in 2021?
When was the Annual Meeting of Shareholders for IGC held?
What is the significance of IGC's share grant approval?
How often will IGC have 'say-on-pay' votes for executive compensation?
Who were the auditors ratified by IGC for fiscal year 2021?
