News Column

QUMU CORP FILES (8-K) Disclosing Submission of Matters to a Vote of Security Holders

June 27, 2014



ITEM 5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

On June 27, 2014, Qumu Corporation (the "Company") held a Special Meeting of Shareholders (the "Special Meeting"). Of the 8,684,848 shares of the Company's common stock outstanding and entitled to vote at the Special Meeting on the May 9, 2014 record date, 6,403,306 shares, or approximately 73.7%, were present at the Special Meeting either in person or by proxy.

The following describes the matters considered by the Company's shareholders at the Special Meeting, as well as the results of the votes cast at the Special Meeting:

1. To approve the sale of the disc publishing assets of Qumu, which constitutes

the sale of substantially all of Qumu's assets under the Minnesota Business Corporation Act, as contemplated by the asset purchase agreement dated April 24, 2014 by and among Equus Holdings, Inc. as Parent, Redwood Acquisition, Inc. as Buyer and Qumu Corporation as Seller (as it may be amended from time to time in accordance with the terms thereof). For Against Abstain Broker Non-Vote

6,394,189 8,217 900 0



In this Current Report on Form 8-K, as in the proxy statement relating to the Special Meeting, the sale of the Company's disc publishing assets is referred to as the "Asset Sale Transaction" and Proposal #1 is referred to as the "Asset Sale Proposal."

2. To approve the adjournment or postponement of the special meeting, if

necessary or appropriate, to solicit additional proxies if there are insufficient votes at the time of the special meeting to approve the Asset Sale Proposal. For Against Abstain Broker Non-Vote

6,239,105 162,601 1,600 0



In this Current Report on Form 8-K, as in the proxy statement relating to the Special Meeting, this Proposal #2 is referred to as the Proposal to Adjourn or Postpone the Special Meeting.

As a result of the votes cast at the Special Meeting, the Asset Sale Proposal and the Proposal to Adjourn or Postpone the Special Meeting were each approved by the Company's shareholders. It was not necessary to adjourn or postpone the Special Meeting under the authority granted by the Proposal to Adjourn or Postpone the Special Meeting because there were sufficient votes at the time of the Special Meeting to approve the Asset Sale Proposal.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Edgar Glimpses


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters