Indian Stock Market

Indian Stock Market

Worth Watching News for Traders: SITO Mobile, Ltd. (NASDAQ:SITO)

On Friday, SITO Mobile, Ltd. (NASDAQ:SITO) stock fell -5.68% and closed at 0.51. The stock opened the session at $0.52 and touched its highest price point at $0.55. Its recent trading capacity is 0 shares versus to its average trading volume of 62841 shares. The company’s stock’s lowest price point for the session stood at $0.51.SITO traded as low as $ 0.5 in the past 52 weeks, and shares hit its peak level to $2.46.

On Nov. 14, 2019, SITO Mobile, Ltd. (NASDAQ:SITO) an insights-driven Consumer Behavior and Location Sciences™ company, disclosed that it intends to postpone its Annual Meeting of Stockholders, scheduled for 10 a.m. ET On Friday, November 15, 2019 at the offices of Pepper Hamilton LLP, The New York Times Building, 620 Eighth Avenue, 37th Floor, New York, New York, based on communication from the Securities and Exchange Commission (the SEC) that it intends to and is in process of reviewing the definitive proxy materials submitted by SITO.

Proxy statement Proposal No. 2, regarding the issuance of shares of Company common stock in its all-stock acquisition of MediaJel, is the only proposal in the definitive proxy materials subject to review. However, the Company has determined it more efficient to reschedule the 2019 Annual Meeting of Stockholders, once any comments and observations received from the SEC are addressed and SEC approval of the proxy materials is obtained.

Prior to the decision to postpone, a sufficient number of shares had been voted or presented by stockholders or their proxies to constitute a quorum. Depending on the significance on the definitive proxy materials of SEC comments and observations, votes that have been cast to date and until the polls close or a stockholder has revoked their proxy, a stockholder’s proxy will still be in effect and will be voted once the Annual Meeting is rescheduled and convened. However, a stockholder will still be able to change or revoke their proxy with respect to any proposal until the meeting convenes and the polls close for voting on such proposal.

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