Global Arena Holding Annual Shareholder Meeting Exceeds Quorum and Passes Proposals With Clear Majority Support

Rhea-AI Summary

Global Arena Holding, Inc. (GAHC) announced results from its Annual Stockholders’ Meeting on September 7, 2021, where over 62.76% of stockholders supported key proposals. Among these were the re-election of the Board of Directors, an increase in authorized shares to 4 billion, and a 1-for-12 reverse stock split. More than 70% of voting stockholders approved each proposal, demonstrating strong confidence in management's ability to pursue growth opportunities. This follows similar stockholder support in previous years for capital increases and stock splits.

Positive

• Over 62.76% stockholder participation in the Annual Meeting.
• All proposals, including increasing authorized shares to 4 billion and a 1-for-12 reverse stock split, received over 70% approval.
• Management believes strong support reflects confidence in the company's growth initiatives.

Negative

• None.

GAHC Sees Support Grow for Pending Acquisitions and Partnerships with Majority Of Stockholders Supporting An Increase In Authorized Shares and Reverse Stock Split

New York, NY, Sept. 07, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Global Arena Holding, Inc. (the “Company”) (OTC PINK: GAHC), announced today that Company completed its Annual Stockholders’ Meeting (the “Annual Meeting”) on September 7, 2021, with all of the proposals receiving majority support from the Company’s stockholders. 

Management indicated that 62.76% of the Company’s stockholders participated in this year’s Annual Meeting.  As noted in the Proxy Packet, the proposals being voted on at this year’s Annual Meeting were: 

·      Re-election of members to the Board of Directors.

·      Authorization of an increase in the Company’s authorized capital stock.

·      Authorization of a reverse stock split of the outstanding common shares; and

·      Ratification of the appointment of the Company’s independent registered public accounting firm.

Management indicated that there was overwhelming support to reappoint the current Board of Directors John S. Matthews, Facundo Bacardi and Martin Doane, and to appoint Raul Carrega, CPA, as the Company’s independent public accounting firm.  It was, however, the incredible support that stockholders showed giving the Board of Directors the tools to meet the Company’s ongoing needs that include the increase to the authorized capital stock to up to 4 Billion shares, and giving the Board of Directors the authorization to effect a 1 for 12 reverse stock split, which was the clearest vote of confidence. 

Management today also wants to remind stockholders that the stockholders had previously voted for a 1 Billion share increase in 2019.  Stockholders also previously authorized a 1 for 4 reverse stock split in 2018 — which management decided against using as the deals presented at the time were not believed to benefit the Company’s stockholders.  This year [2021] stockholders showed strong support for both the authorized stock increase and a reverse stock split, simultaneously, with over 70% of voting stockholders in support of each proposal.  Management strongly believes that the support for these actions suggest that the market understands the Company’s business objectives and the potential growth stemming from acquisitions and partnerships.

This also speaks to the market’s belief that “the Company’s management takes very seriously its responsibilities to grow and protect shareholder value, and will not misuse the confidence placed in them,” said John S. Matthews, the Chairman and CEO of the Company.

Mr. Matthews concluded, “I cannot express enough how grateful we are to our stockholders for supporting our vision.  Our stockholders have given management the ability to continue pursuing those opportunities that will lend to the growth and future prosperity of Global Arena Holding and we will continue striving to be the best in our marketplace; as innovators and fundamentally sound in our business plan.”

The Annual Meeting process was supported by: Clear Trust LLC, Broadridge and Mediant.

As always, management recommends reading the Company’s financials in their entirety and contacting the Company at any time with any questions.

For more information on these and other developments, please visit the Company’s website at: http://GlobalArenaHolding.com, where you can also access all SEC filings, as the Company continues to pursue a more effective investor relations initiative. 

ABOUT GAHC

Global Arena Holding, Inc. trades on the OTC Markets, under the ticker symbol GAHC. The Company has been publicly traded since 2011 and holds a number of interests, including Global Elections Services, Inc., Tidewater Energy Group Inc., and GAHI Acquisition Corp. Please find the Company’s filings at SEC.gov

ABOUT Global Election Services, Inc. (GES)

Owned by Global Arena Holding Inc., GES provides comprehensive technology-enabled election services to organizations such as craft and trade organizations, labor unions, political parties, co-operatives and housing organizations, associations and professional societies, universities, pension funds and credit unions, and entertainment organizations. GES senior management has been supervising elections since 1981, having managed more than Eight Thousand Six Hundred (8,600) election projects involving over Forty Million (40,000,000) voters, certifying each labor election with the U.S. Department of Labor. The primary method of voting for GES elections is Paper Mail Ballots. No election supervised by GES or its senior management has ever been overturned by the U.S. Department of Labor. Management has an extremely strong reputation in the market and a very extensive, longtime customer list. Our mission is to help our clients conduct efficient, accurate, secure and less costly elections with greater participation. As a viable independent third party managing each election, we work to increase methods and rates of participation while maintaining the One Voter = One Vote Integrity that our management team has been committed to for nearly 4 decades.

Safe Harbor Statement

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.

CONTACT:

Global Arena Holding, Inc.

208 East 51st St.

Suite 112

New York, NY 10022

kathryn@globalarenaholding.com

Tel: 646-801-5524

FAQ

What were the results of GAHC's Annual Stockholders' Meeting on September 7, 2021?

At GAHC's Annual Stockholders' Meeting on September 7, 2021, over 62.76% of stockholders participated, with all proposals receiving majority support, including significant increases in authorized shares and a reverse stock split.

What proposals were supported by stockholders at GAHC's Annual Meeting?

The proposals supported by GAHC's stockholders included the re-election of the Board of Directors, an increase in authorized capital stock to 4 billion shares, a 1-for-12 reverse stock split, and the ratification of the independent accounting firm.

How much support did GAHC receive for its reverse stock split proposal?

More than 70% of voting stockholders supported GAHC's proposal for a 1-for-12 reverse stock split during the Annual Meeting.

What does the support for the increase in authorized shares signify for GAHC?

The support for increasing authorized shares to 4 billion is seen as a strong vote of confidence from stockholders in GAHC's management and their strategic initiatives.