Freight Technologies Postpones Annual General Meeting Due to Lack of Quorum

On December 12, 2024, Freight Technologies, Inc. (NASDAQ:FRGT) made a recent submission to the Securities and Exchange Commission regarding the adjournment of its 2024 Annual General Meeting of Members. The meeting, which took place on December 12, 2024, at 1:00 p.m. local time in Monterrey, Mexico, was held to address various proposals outlined in the Notice of 2024 Annual General Meeting of Members issued on October 28, 2024.

Freight Technologies, a company incorporated in the British Virgin Islands, with its principal executive offices located in The Woodlands, TX, convened the meeting to deliberate on key proposals. However, the meeting faced an issue as there was an insufficient quorum present to make necessary decisions.

As per the Company’s memorandum and articles of association, a quorum is constituted when not less than 50% of the votes entitled to vote are present in person or by proxy at the commencement of the meeting. At the time of the meeting, only 44.67% of the votes of the Company’s Ordinary Shares were represented by 892,791 shares, falling short of the required quorum.

In compliance with the Company’s regulations, Freight Technologies will reconvene the Annual General Meeting on December 13, 2024, at 1 p.m. local time in Monterrey, Mexico, at the same location to reconsider the proposed resolutions. According to the guidelines set forth, a quorum will be formed if at least one third of the votes entitled to vote on the matters are present within one hour from the meeting’s commencement.

The proxies already received will remain in effect for the rescheduled Annual Meeting. Shareholders who haven’t cast their votes yet are urged to do so by returning the proxy cards distributed in connection with the Annual Meeting. This invitation extends to all holders of the Company’s Ordinary Shares as of the record date on October 24, 2024.

The company’s Chief Executive Officer, Javier Selgas, has signed the report on behalf of Freight Technologies, in compliance with the Securities Exchange Act of 1934. The rescheduled meeting on December 13, 2024, will aim to address the proposals that were on the agenda during the adjourned Annual General Meeting.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Freight Technologies’s 8K filing here.

About Freight Technologies

Freight Technologies, Inc, through its subsidiary, operates a transportation logistics technology platform for cross-border shipping in the United States and Mexico. Its Fr8App technology platform offers an online portal and a mobile application that provide third-party logistics services to companies in the freight transportation market; a transport management solution for customers to manage their own fleet; and freight brokerage support and customer services based on the platform.