Zapp EV Announces Cancellation of Annual General Meeting on May 15, 2025

Rhea-AI Summary

Zapp Electric Vehicles Group Limited (ZAPP) has announced the cancellation of its annual general meeting originally scheduled for May 15, 2025, at 2 p.m. GMT. The cancellation was due to the company's failure to receive sufficient proxies to constitute a quorum. The company has withdrawn the proposals outlined in the April 30, 2025 proxy card from shareholder consideration. Zapp EV will provide notice for a new Annual Meeting to shareholders at a future date.

Positive

• None.

Negative

• Failed to receive sufficient proxies for quorum at Annual Meeting, indicating potential shareholder participation issues
• Withdrawal of all proposals from shareholder consideration
• Delay in conducting essential corporate governance procedures

Notice for a new meeting will be provided at a future date

LONDON, May 15, 2025 (GLOBE NEWSWIRE) -- Zapp Electric Vehicles Group Limited (Nasdaq: ZAPP) (“Zapp EV” or the “Company”), owner of “Zapp”, the British electric vehicle brand on a mission to revolutionise personal urban mobility, today announced that it has cancelled its annual general meeting of shareholders (the “Annual Meeting”) scheduled to be held on May 15, 2025 at 2 p.m. Greenwich Mean Time (10 a.m. Eastern Daylight Time). The Company has not received proxies that would constitute a quorum and has decided to withdraw from consideration by holders of the Company’s ordinary shares (the “Shareholders”) the proposals set forth in the proxy card provided on April 30, 2025. Notice for a new Annual Meeting will be provided to Shareholders at a future date.

About Zapp EV

Zapp EV (Nasdaq: ZAPP) and its operating subsidiaries are run by a team of experts from the mobility industry, on a mission to redefine the electric two-wheeler segment. Zapp's debut product, the i300, is an urban electric high-performance two-wheeler capable of traditional motorcycle levels of performance in a step-through format, combining ease of use with exhilaration and fun. The i300 is the first in a suite of high-performance electric two-wheelers that Zapp plans to bring to market. Zapp will offer a high-quality direct-to-customer experience known as DSDTC (drop-ship-direct-to-customer). Customers ordering the i300 online will have their bikes conveniently delivered to their home by authorised “Zappers,” who will provide at-home inspection, service and support throughout the vehicle ownership lifecycle. Zapp is a registered trademark of Zapp Electric Vehicles Limited in the United Kingdom and other countries. For more information, visit www.zappev.com.

Zapp Investor Relations Contact:

Mark Kobal
Head of Investor Relations
ir@zappev.com

Zapp Media Relations Contact:
pr@zappev.com

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (or the “Exchange Act”). These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “budget,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are not historical facts but rather are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events and results to differ materially from those expressed or implied by the forward-looking statements in this document, including but not limited to various general and specific risks and uncertainties associated with the Company's business and finances in general.

Readers should review and carefully consider the risks and uncertainties described in the “Risk Factors” section of Zapp EV's annual report on Form 20-F (File No. 001-41693), which is incorporated herein by reference, and other documents the Company files with or furnishes to the U.S. Securities and Exchange Commission from time to time. These filings identify and address important risks and uncertainties that could cause actual events and results to differ materially from those expressed or implied by the forward-looking statements herein. The forward-looking statements herein represent the Company’s views as of the date of this document. Subsequent events and developments may cause these views to change. Readers are cautioned not to place undue reliance on the forward-looking statements herein, all of which are qualified by the foregoing cautionary statements. Except as required by applicable law, Zapp assumes no obligation and does not intend to update or revise the forward-looking statements herein, whether as a result of new information, future events, or otherwise. Zapp does not give any assurance that it will achieve its expectations. The inclusion of any statement in this document does not constitute an admission by Zapp or any other person that the events or circumstances described in any such statements are material.

FAQ

Why did Zapp EV (ZAPP) cancel its May 15, 2025 Annual General Meeting?

Zapp EV cancelled its Annual General Meeting because the company did not receive enough proxies to constitute a quorum for the meeting.

What happens to the proposals in Zapp EV's April 30, 2025 proxy card?

All proposals from the April 30, 2025 proxy card have been withdrawn from shareholder consideration.

When will Zapp EV hold its rescheduled Annual General Meeting?

The company has stated it will provide notice for a new Annual Meeting to shareholders at a future date, but no specific date has been announced yet.

What time was the cancelled Zapp EV Annual Meeting scheduled for?

The cancelled meeting was scheduled for 2 p.m. Greenwich Mean Time (10 a.m. Eastern Daylight Time) on May 15, 2025.