Neonode Announces Adjournment of Annual Meeting of Stockholders

Rhea-AI Summary

Neonode (NASDAQ: NEON) announced the adjournment of its 2024 Annual Meeting of Stockholders due to a lack of quorum. The meeting, initially held on June 11, 2024, will reconvene on June 25, 2024, at Neonode's principal office in Stockholm. No business was conducted, and no changes have been made to the proposals listed in the April 26, 2024, proxy statement. Stockholders eligible to vote remain those recorded as of April 22, 2024. Proxies already submitted will be counted unless revoked. The Board urges all stockholders to vote 'FOR' all proposals.

Positive

• The adjournment aims to provide stockholders additional time to vote, potentially leading to a more democratic decision-making process.
• The Board of Directors is unanimously recommending the vote 'FOR' all proposals, indicating unified leadership.

Negative

• The adjournment of the Annual Meeting due to a lack of quorum suggests potential disengagement or dissatisfaction among stockholders.
• The delay may cause uncertainties or concerns among investors regarding the immediate future and corporate governance.

STOCKHOLM, June 11, 2024 /PRNewswire/ -- Neonode Inc. (NASDAQ: NEON) announced today that its 2024 Annual Meeting of Stockholders (the "Annual Meeting"), held on June 11, 2024 at 3:00 p.m. local time at Neonode's principal executive office located at Karlavägen 100, 115 26 Stockholm, Sweden, was convened and adjourned without any business being conducted, due to a lack of the required quorum.

The Annual Meeting will reconvene on June 25, 2024 at 3:00 p.m. local time at Neonode's principal executive office located at Karlavägen 100, 115 26 Stockholm, Sweden, to provide its stockholders additional time to vote on the proposals described in the proxy statement filed with the Securities and Exchange Commission on April 26, 2024. No changes have been made in the proposals to be voted on by stockholders at the Annual Meeting.

The record date for determining stockholder eligibility to vote at the Annual Meeting will remain the close of business on April 22, 2024. Proxies previously submitted will be voted at the Annual Meeting unless properly revoked, and stockholders who have already submitted a proxy or otherwise voted need not take any action.

Neonode's Board of Directors unanimously recommends that stockholders vote "FOR" all proposals and encourages all stockholders who have not already voted to do so immediately.

For more information or questions, please contact:

CONTACT:

Interim President and Chief Executive Officer and Chief Financial Officer
Fredrik Nihlén
E-mail: fredrik.nihlen@neonode.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/neonode/r/neonode-announces-adjournment-of-annual-meeting-of-stockholders,c3999335

The following files are available for download:

https://mb.cision.com/Main/17297/3999335/2859084.pdf	Neonode Inc. - Press Release (Annual Meeting Adjournment)
https://news.cision.com/neonode/i/neonode-annual-meeting-adjournment,c3309515	neonode-annual-meeting-adjournment

View original content:https://www.prnewswire.com/news-releases/neonode-announces-adjournment-of-annual-meeting-of-stockholders-302170001.html

SOURCE Neonode

FAQ

Why was Neonode's 2024 Annual Meeting adjourned?

Neonode's 2024 Annual Meeting was adjourned due to a lack of the required quorum.

When will Neonode's adjourned Annual Meeting reconvene?

The adjourned Annual Meeting will reconvene on June 25, 2024, at 3:00 p.m. local time.

What proposals are stockholders voting on at Neonode's Annual Meeting?

The proposals are described in the proxy statement filed with the SEC on April 26, 2024.

Will proxies already submitted for Neonode's Annual Meeting be counted?

Yes, proxies previously submitted will be voted at the reconvened meeting unless properly revoked.

What is the record date for determining eligibility to vote at Neonode's Annual Meeting?

The record date remains the close of business on April 22, 2024.