Oculus VisionTech Reports 2024 Annual Meeting of Stockholders Results

Rhea-AI Summary

Oculus VisionTech Inc. (TSXV: OVT) (OTCQB: OVTZ) (FSE: USF1) held its 2024 Annual Meeting of Stockholders on September 30, 2024, in Vancouver, British Columbia. All resolutions were approved by shareholders, with 54,974,235 common shares (60.13% of the total) present or represented by proxy. Key agenda items included:

1. Election of directors: All nominees were elected with over 98% approval.
2. Ratification of Davidson & Company LLP as the independent public accounting firm.
3. Approval of the Omnibus Equity Incentive Compensation Plan.
4. Approval of named executive officers' compensation.
5. Approval to change the company name to "Oculus Inc." or an alternative approved by the Board.

Detailed voting results are available on SEDAR+, the company's website, and in the Form 8-K filed with the SEC.

Positive

• High shareholder participation with 60.13% of shares represented at the meeting
• All resolutions passed with strong support, most receiving over 98% approval
• Shareholders approved the continuation of the Omnibus Equity Incentive Compensation Plan
• Approval to change the company name, potentially enhancing brand identity

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - October 1, 2024) - Oculus VisionTech Inc. (TSXV: OVT) (OTCQB: OVTZ) (FSE: USF1) is pleased to announce the results of its 2024 Annual Meeting of Stockholders ("Meeting"). The Meeting was held on September 30, 2024 in Vancouver, British Columbia. All resolutions put forward at the meeting were approved by shareholders. A total of 54,974,235 common shares (60.13% of the 91,422,569 issued and outstanding shares of the Company entitled to vote as of the August 2, 2024 record date for the Meeting) were present in person or by proxy, constituted a quorum for the transaction of business and were voted at the Meeting. The agenda items submitted at the Meeting were passed as described below. Percentages indicated below reflect the percentage of the total number of shares voted at the Meeting with respect to that agenda item.

Agenda Item 1

The detailed results of voting by ballot in respect of the election of directors were as follows:

Nominee	Votes For	Votes Withheld
Anton J. Drescher	47,630,634       (99.09%)	438,479       (0.91%)
Fabrice Helliker	47,619,070      (99.06%)	450,043       (0.94%)
Maurice Loverso	47,620,029      (99.07%)	449,084      (0.93%)
Rowland Perkins	47,626,322      (99.08%)	442,791      (0.92%)
Tom Perovic	47,495,811      (98.81%)	573,302      (1.19%)
Ron Wages	47,635,631      (99.10%)	433,482      (0.90%)

 

There were 6,905,122 broker non-votes with respect to the election of directors. Votes that were withheld and broker non-votes were counted for the purposes of determining the presence or absence of a quorum but had no other effect on the election of directors.

Agenda Item 2

To ratify the appointment of Davidson & Company LLP, Chartered Professional Accountants, as the Company's independent public accounting firm for the fiscal year ending December 31, 2024. The votes cast for or against this agenda item, and the numbers of abstentions, were as follows:

For	Against	Abstain
54,298,826      (98.77%)	335.662      (0.61%)	339,747      (0.62)

 

There were no broker non-votes with respect to this agenda item. Abstentions were counted for purposes of determining the presence or absence of a quorum, and abstentions were deemed to be "votes cast" and had the same effect as a vote against this agenda item.

Agenda Item 3

To approve the continuation of the Company's Omnibus Equity Incentive Compensation Plan. The votes cast for or against this agenda item, and the number of abstentions, were as follows:

For	Against	Abstain
47,457,787      (98.73%)	525,995      (1.09%)	85,331      (0.18%)

 

There were 6,905,122 broker non-votes with respect to this agenda item. Broker non-votes and abstentions were counted for purposes of determining the presence or absence of a quorum. Abstentions were deemed to be "votes cast" and had the same effect as a vote against this agenda item. Broker non-votes were not deemed to be "votes cast", and therefore had no effect on the vote with respect to this proposal.

Agenda Item 4

To approve the compensation of the Company's named executive officers. The votes cast for or against this agenda item, and the number of abstentions, were as follows:

For	Against	Abstain
47,673,788      (99.17%)	315,765      (0.66%)	79,560      (0.17%)

 

There were 6,905,122 broker non-votes with respect to this agenda item. Broker non-votes and abstentions were counted for purposes of determining the presence or absence of a quorum. Abstentions were deemed to be "votes cast" and had the same effect as a vote against this agenda item. Broker non-votes were not deemed to be "votes cast", and therefore had no effect on the vote with respect to this proposal.

Agenda Item 5

To approve the amendment to Company's Articles of Incorporation to change the Company's name to "Oculus Inc.", or such other name the Bord of Directors of the Company may approve. The votes cast for or against this agenda item, and the number of abstentions, were as follows:

For	Against	Abstain
54,091,241      (98.39%)	365,866       (0.67%)	517,126      (0.94%)

 

There were 2 broker non-votes with respect to this agenda item. Broker non-votes and abstentions were counted for purposes of determining the presence or absence of a quorum. Abstentions were deemed to be "votes cast" and had the same effect as a vote against this agenda item. Broker non-votes were not deemed to be "votes cast", and therefore had no effect on the vote with respect to this proposal.

The detailed "Report of Voting Results" on all resolutions for the Company's Meeting is available under the Company's profile on SEDAR+, on the Company's website, in the Company's Current Report on Form 8-K as filed with the United States Securities and Exchange Commission available under the Company's profile on EDGAR or upon request by contacting the Company's Corporate Secretary at (604) 685-1017.

About Oculus VisionTech

Oculus VisionTech Inc. (OVT), www.ovtz.com, is a cloud-native development-stage technology company focused on data compliance and digital privacy solutions for business customers worldwide. With offices in San Diego, California and Vancouver, British Columbia, the Company is currently expanding its' new ComplyTrust^® www.complytrust.com, product suite which includes the ComplyScan^® cloud data protection and compliance tool and Forget-Me-Yes^® B2B data privacy Software-as-a-Service (SaaS) platform, optimizing CCPA, GDPR, LGPD and other regulatory compliance legislation for Salesforce organizations worldwide that provide businesses with secure data privacy tools enabling sustained and continuous global regulatory compliance of data subject rights. OVTZ's legacy Cloud-DPS digital content protection solution implements invisible forensic watermarking technology that seamlessly embeds imperceptible tracking components into documents and video-frame content that enables tamper-proof legal auditability for intellectual property protection.

Learn more about Oculus at www.ovtz.com or follow us on Twitter (https://twitter.com/OculusVT) or Facebook (https://www.facebook.com/OculusVisionTech/)

About ComplyTrust^®

ComplyTrust Inc. https://complytrust.com/, a 100% wholly-owned subsidiary of Oculus VisionTech, is specifically focused on providing enterprise organizations and individuals with secure data privacy tools that provide sustained and continuous global regulatory compliance of data subject rights. Headquartered in San Diego, California, ComplyTrust was founded by industry veteran storage technology experts and is operated by an experienced management team.

Learn more about ComplyTrust at https://complytrust.com/.

For further information, contact:

Anton Drescher
Telephone: (604) 685-1017
Fax: (604) 685-5777

Website: http://ovtz.com/
TSXV: https://money.tmx.com/en/quote/OVT/company#profile-section-company-spoke
US OTC Markets (OTCQB): https://www.otcmarkets.com/stock/OVTZ/security
Berlin Borse: https://www.boerse-berlin.com/index.php/Shares?isin=US67575Y1091
Frankfurt Borse: https://www.boerse-frankfurt.de/equity/oculus-visiontech

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements and information within the meaning of applicable securities laws (collectively, "forward-looking statements"), including the United States Private Securities Litigation Reform Act of 1995. All statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, statements as to the intended uses of the proceeds received from the Offering. Often, but not always, forward-looking statements can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "schedules", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Actual results could differ from those projected in any forward-looking statements due to numerous factors including risks and uncertainties relating to, among others, the change of business focus of the management of Oculus, the inability of Oculus to pursue its current business objectives, the ability of the Company to obtain any required governmental, regulatory or stock exchange approvals, permits, consents or authorizations required, including TSXV final acceptance of the Offering and any planned future activities, and obtain the financing required to carry out its planned future activities. Other factors such as general economic, market or business conditions or changes in laws, regulations and policies affecting the Company's industry, may also adversely affect the future results or performance of the Company. These forward-looking statements are made as of the date of this news release and Oculus assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in these forward-looking statements. Although Oculus believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate.

Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in Oculus' periodic reports filed from time-to-time with the United States Securities Exchange Commission and Canadian securities regulators. These reports and Oculus' public filings are available at www.sec.gov in the United States and www.sedarplus.ca in Canada.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225271

FAQ

What was the outcome of Oculus VisionTech's (OVTZ) 2024 Annual Meeting of Stockholders?

All resolutions put forward at Oculus VisionTech's (OVTZ) 2024 Annual Meeting of Stockholders were approved by shareholders, including the election of directors, appointment of auditors, approval of the equity incentive plan, executive compensation, and a potential name change to 'Oculus Inc.'

What was the shareholder participation rate at Oculus VisionTech's (OVTZ) 2024 Annual Meeting?

The shareholder participation rate at Oculus VisionTech's (OVTZ) 2024 Annual Meeting was 60.13%, with 54,974,235 common shares present in person or by proxy out of 91,422,569 issued and outstanding shares.

Did Oculus VisionTech (OVTZ) shareholders approve a potential company name change in the 2024 Annual Meeting?

Yes, shareholders of Oculus VisionTech (OVTZ) approved an amendment to the company's Articles of Incorporation to change the name to 'Oculus Inc.' or another name approved by the Board of Directors, with 98.39% voting in favor.

Who was appointed as Oculus VisionTech's (OVTZ) independent public accounting firm for the fiscal year ending December 31, 2024?

Davidson & Company LLP, Chartered Professional Accountants, was ratified as Oculus VisionTech's (OVTZ) independent public accounting firm for the fiscal year ending December 31, 2024, with 98.77% of votes in favor.