Vision Marine Technologies postpones shareholders meeting amid quorum concerns
- Vision Marine Technologies has postponed its Annual Meeting of Shareholders from May 15, 2025, to May 23, 2025.
- This decision was taken to facilitate more engagement and ensure quorum among shareholders.
- The Board of Directors recommends that shareholders vote in favor of the proposals in the proxy statement.
In Canada, on May 2, 2025, Vision Marine Technologies Inc., a company specializing in electric marine propulsion, issued a statement regarding the postponement of its Annual Meeting of Shareholders, which was set for May 15, 2025. The new date for the meeting is now scheduled for May 23, 2025, at 10:00 a.m. EST and will be held virtually. The decision to postpone the meeting was made to provide the company with more time to reach out to shareholders to achieve a quorum necessary for valid voting and to ensure greater participation from shareholders. The record date for shareholders remains unchanged, with shareholders needed to have their votes cast by March 27, 2025, to be eligible. In the wake of this announcement, the Board of Directors of Vision Marine Technologies has unanimously recommended that shareholders vote in favor of the proposals detailed in the proxy statement sent out earlier. For shareholders who have already submitted their votes, there is no need for action; however, their votes will still be counted in the postponed meeting. Those holding off on casting their votes are encouraged to do so ahead of the newly scheduled date. This change in schedule reflects the company’s proactive approach to ensuring a broad and engaged shareholder vote. Due to various factors, including potential disruptions caused by the current global climate, the Board felt that it was necessary to allow for further outreach to stakeholders, thereby enhancing overall attendance and participation. In addition, stakeholders are reminded of the filed definitive proxy statement with the Securities and Exchange Commission, which provides essential details regarding the upcoming shareholders' meeting. The company urges shareholders to read the contents of this proxy statement carefully to be aware of all relevant information. As a company at the forefront of innovative marine propulsion technology, this engagement and transparency with shareholders underscore Vision Marine Technologies' commitment to maintaining strong lines of communication and upholding corporate governance standards.