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News Breaks
August 6, 2014
09:19 EDTWPCSWPCS International urges holders to vote for the sale of Seattle operations
WPCS International released a statement urging shareholders to vote on the proposed sale of the assets of the company's Seattle Operations, an important next step in the company's continuing restructuring plan. According to Sebastian Giordano, Interim CEO of WPCS, "As of today, 47.03% of shareholders have voted in favor of the sale of the Seattle Operations. We thank those who have contributed and continue to respectively urge those who have not yet voted in favor of this transaction to please do so, as we need the affirmative vote of 50.01% of shareholders to approve this sale. Shareholders should be aware that, unfortunately, this extended effort to secure the requisite vote has thus far cost the company approximately $65,000 in additional proxy solicitation fees and resulted in a $100,000 sales price reduction for failure to close this transaction by July 31. I cannot overemphasize the critical place this transaction has in the overall plan to restructure, revitalize and reposition the company for future growth. I am asking that remaining eligible shareholders please vote, 'yes' as soon as possible, so we can close this transaction and keep the momentum of the restructuring going in the right direction. Failure to sell Seattle would undermine the progress achieved to-date and could hamper our ability to build shareholder value in the foreseeable future."
News For WPCS From The Last 14 Days
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February 1, 2016
09:06 EDTWPCSWPCS International secured $4.6M of new contracts in Q3
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