Kirkland's, Inc. announced on December 19, 2024, an extension of the voting deadline for its special meeting of shareholders, originally scheduled for December 23, 2024. The extension aims to allow additional time to satisfy applicable quorum requirements for the approval of the share issuance to Beyond, Inc. in connection with their strategic partnership.
Preliminary voting reports as of December 19, 2024, indicated strong shareholder support, with approximately 94.3% of votes represented in person or by proxy cast 'For' the proposal. However, the company had received proxies representing only about 37.2% of total shares outstanding, which was less than the majority needed under applicable law and company bylaws.
CEO Amy Sullivan stated that the strong preliminary vote results confirmed broad shareholder support for the proposal, which is a key milestone in strengthening Kirkland's financial position. The company believes providing more time for shareholders to participate, especially after the holiday season, will help secure the necessary quorum for approval.
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