Item 5.07 Submission of Matters to the Vote of Securityholders.
At June 15, 2021, Seamus Lagan, CEO, Interim President and Chief Financial Officer of Rennova Health, Inc. (the “Company”), and Alcimède SARL, whose Mr. Lagan is the sole manager, the holders of 250,000 Series L Convertible Preferred Shares and an irrevocable proxy to vote all of the outstanding shares of Series M convertible redeemable preferred shares, each of which votes with the common shares and convertible preferred shares of Series F (the “Series F Preferred Shares”), representing approximately 52.6% of the total voting rights of the voting securities of the Company, approved by written consent in lieu of a special meeting of shareholders, the following proposal, which had already been approved and recommended approved by the shareholders by the Board of Directors of the Company.
Proposal 1: Approve an amendment to our certificate of incorporation, as amended to effect a reverse stock split of all outstanding shares of our common stock, at a specific ratio of 1 in 50 to 1 in 2,000, and grant the authorization to our board of directors to determine, at its discretion, the ratio and the precise moment of the merger at any time at the latest December 31, 2021, subject to the abandonment by the board of directors of such an amendment.
The approval by the shareholders of the above proposal will not be effective until 20 days after an information declaration which has been filed with the Security and Trade Commission is mailed to the holders of our common shares and our Series F preferred shares.
© Edgar online, source Previews