DRYS
DryShips reports results of today's annual general meeting of shareholders (1.06 +0.01)
The results of its Annual General Meeting of Shareholders (the "Annual General Meeting") which took place on May 2, 2017 and at which the following three proposals were approved and adopted:
The election of Mr. George Economou as Class A Director of the Company to serve until the 2020 Annual General Meeting of Shareholders
The ratification of the appointment of Ernst & Young (Hellas) Certified Auditors Accountants S.A., as the Company's independent auditors for the fiscal year ending December 31, 2017
The approval of one or more amendments to the Co's Amended and Restated Articles of Incorporation to effect one or more reverse stock splits of the Co's issued common shares at a ratio of not less than one-for-two and not more than one-for-1000, inclusive, with the exact ratio to be set at a whole number within this range to be determined by the Company's board of directors (the "Board"), or any duly constituted committee thereof, at any time after approval of each amendment in its discretion, and to authorize the Board to implement any such reverse stock split by filing any such amendment with the Registrar of Corporations of the Republic of the Marshall Islands
The one-for-seven reverse stock split of the Co's issued common stock, which will be effected pursuant to the authority granted to the Board at the Annual General Meeting. The reverse stock split will take effect, and the Co's common stock will begin trading on a split-adjusted basis on the Nasdaq Capital Market, as of the opening of trading on May 11, 2017 under the existing trading symbol "DRYS."
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