{"id":82780,"date":"2023-11-09T21:20:51","date_gmt":"2023-11-10T02:20:51","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/thousands-of-amc-shareholders-wanted-the-board-to-go-but-abstentions-carried-the-day\/"},"modified":"2023-11-09T21:20:55","modified_gmt":"2023-11-10T02:20:55","slug":"thousands-of-amc-shareholders-wanted-the-board-to-go-but-abstentions-carried-the-day","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=82780","title":{"rendered":"Thousands of AMC shareholders wanted the board to go, but abstentions carried the day"},"content":{"rendered":"
\n

Tens of thousands of AMC Entertainment Holdings Inc. shareholders voted to, in essence, throw out the entertainment company\u2019s board, but the proposal went nowhere because of no-shows and abstentions. <\/p>\n

AMC reported the results of its Wednesday shareholder meeting in a regulatory filing late Thursday. <\/p>\n

\n

The first of seven proposals called to declassify AMC\u2019s board of directors and to shorten all existing terms so they\u2019d end at the meeting. <\/p>\n

That got slightly more than 34,000 \u201cyes\u201d votes, to about 6,000 \u201cno\u201d votes. Nearly 800,000 abstentions and no-shows, however, carried the day. \u201cNon-votes had the same effect as a vote against the proposal,\u201d AMC said in the filing.<\/p>\n

Other proposals had a similar fate, including a failed proposal to approve, on a non-binding advisory basis, the compensation paid to certain AMC executives.<\/p>\n

AMC\u2019s stock
\n AMC,
\n -13.68%<\/bg-quote>
\n dropped another 1% in the extended session Thursday after ending the regular trading day down 14%, hit by earlier news that the company plans a $350 million stock offer. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Tens of thousands of AMC Entertainment Holdings Inc. shareholders voted to, in essence, throw out the entertainment company\u2019s board, but the proposal went nowhere because of no-shows and abstentions. AMC reported the results of its Wednesday shareholder meeting in a regulatory filing late Thursday. The first of seven proposals called to declassify AMC\u2019s board of […]<\/p>\n","protected":false},"author":1,"featured_media":47728,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-82780","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nThousands of AMC shareholders wanted the board to go, but abstentions carried the day | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Tens of thousands of AMC Entertainment Holdings Inc. shareholders voted to, in essence, throw out the entertainment company\u2019s board, but the proposal went\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=82780\" \/>\n<meta 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