Vestin Realty Mortgage I, Inc. Announces Proxy Voting Results of its 2021 Annual Meeting of Stockholders
On October 20, 2021, Vestin Realty Mortgage I, Inc. (OTC: VRTA) reported results from its 2021 Annual Meeting of Stockholders. Approximately 72.63% of shares were voted, totaling 630,671 out of 868,318 shares outstanding. Michael V. Shustek was elected as a director with 92.45% approval. A proposed 1-for-100 reverse stock split received 92.41% support, while an amendment to expand investment policies was favored by 92.55% of voters. The company invests primarily in real estate secured loans and has been operational since June 2001.
- Michael V. Shustek elected as director with 100% approval.
- 92.41% approval for a 1-for-100 reverse stock split.
- 92.55% approval for expanding investment policies.
- None.
LAS VEGAS, Oct. 20, 2021 /PRNewswire/ -- Vestin Realty Mortgage I, Inc. (OTC: VRTA) announced today the ballot of appointed proxies voting results from its 2021 Annual Meeting of Stockholders. Approximately 72.63 percent of shares were voted, or 630,671 shares of 868,318 total shares outstanding.
A total of 573,640 votes were cast in regard to item one, the election of Michael V. Shustek, who also serves as chief executive officer and president of VRTA, as a director, representing approximately 92.45 percent of all shares. Of those voting, 100 percent voted in favor of Shustek's appointment.
With regard to item two, an amendment to the company's charter's to effect a 1-for-100 reverse stock split of the common stock,
A total of 619,854 votes were cast in regard to item three, an amendment to the company's bylaws to expand its investment policy to include investments in equity securities of publicly traded companies and unsecured debt investments in privately held companies. Approximately 92.55 percent voted in favor of the amendment, while approximately 7.34 percent voted against it and approximately 0.10 percent abstained.
About Vestin Realty Mortgage I, Inc.
Vestin Realty Mortgage I, Inc., formerly Vestin Fund I, LLC, invests in loans secured by real estate through deeds of trust or mortgages and as defined in our management agreement as mortgage assets. In addition, we invest in, acquire, manage, or sell real property and acquire entities involved in the ownership or management of real property, as well as securities. We commenced operations in June 2001. Vestin Realty Mortgage I, Inc. is traded on the OTC pink sheets under the symbol "VRTA" and headquartered in Las Vegas, Nevada. For additional information regarding Vestin Realty Mortgage I, please visit www.vestinrealtymortgage1.com.
This press release contains statements about the future expectations, beliefs, goals, plans or prospects of the management of Vestin Realty Mortgage II, Inc. These statements are based on current expectations, estimates, forecasts and projections and management assumptions about Vestin Realty Mortgage II, Inc. These statements constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words such as "expects," "believes," "estimates," "anticipates," "targets," "goals," "projects," "intends," "plans, "seeks," and variations of such words and similar expressions are intended to identify such forward-looking statements which are not statements of historical fact. These forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to assess. Vestin Realty Mortgage II, Inc. has no obligation to update such forward-looking statements. Actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements.
Contacts | |
Julie Leber | Damon Elder |
Spotlight Marketing Communications | Spotlight Marketing Communications |
949.427.1391 | 949.427.1377 |
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SOURCE Vestin Realty Mortgage I, Inc.
FAQ
What were the proxy voting results for Vestin Realty Mortgage I (VRTA)?
Who was elected as a director during the 2021 Annual Meeting for VRTA?
What did the stockholders vote on regarding a reverse stock split for VRTA?
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