Universal Security Instruments Calls Special Meeting of Shareholders for March 6, 2025

On January 23, 2025, Universal Security Instruments, Inc. (NYSE: UUU), as per a recent 8-K filing with the Securities and Exchange Commission, convened a Special Meeting of Shareholders. The meeting was conducted following the guidelines outlined in the notice of Special Meeting and the Proxy Statement dated December 27, 2024, which was sent to shareholders as of December 19, 2024.

Out of 2,312,787 shares eligible for notice and voting at the Special Meeting, 1,649,857 shares, equivalent to 71.3% of the total outstanding shares, were represented. This representation ensured the presence of a quorum for decision-making.

The primary item on the agenda was the Adjournment Proposal, granting discretionary power to the Company’s Board of Directors to adjourn the Special Meeting even in the presence of a quorum. This provision was to enable the solicitation of additional proxies if insufficient votes were received for the Asset Sale Proposal or the Dissolution Proposal as defined in the Proxy Statement.

The Adjournment Proposal secured approval from a majority, with 1,174,449 shares of Common Stock voting in favor and no more than 319,629 shares voting against or abstaining. This constituted approval by a significant portion of the shares present.

Following this approval, the Special Meeting was adjourned by the Chairman with authorization from the Board of Directors. It was rescheduled for March 6, 2025, at 10:00 a.m. Eastern Time. The adjournment was aimed at allowing the Company to gather additional proxies concerning the proposals outlined in the Proxy Statement.

Shareholders can expect the reconvened Special Meeting to address the proposals initially slated for discussion. Shareholders’ voting rights will be based on the record date of December 19, 2024, and the established procedures for participation will remain unchanged. Those who have already submitted their proxy or cast their vote do not need to take further action.

The Company encourages all shareholders to carefully review the Proxy Statement as it contains essential information related to the matters under consideration at the Special Meeting. The Proxy Statement and associated materials are available for review on the SEC’s website.

As the Special Meeting approaches, Universal Security Instruments plans to continue its efforts to obtain proxies from its shareholders. No modifications have been made to the proposals set for voting at the reconvened Meeting, emphasizing the importance of active shareholder participation in the decision-making process.

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

About Universal Security Instruments

Universal Security Instruments, Inc, together with its subsidiary, engages in the marketing and distribution of safety and security products in the United States. The company offers a line of safety alarms units, including replaceable batteries, sealed batteries, and battery backup alarms; and smoke alarms, which include hearing impaired and heat alarms, as well as carbon monoxide alarms, door chimes, ventilation products, ground fault circuit interrupters, and other electrical devices under the UNIVERSAL and USI Electric trade names.