Benzinga | Jul 9, 2021 09:12AM EDT

Digital Ally Says At July 8 Annual Meeting The Amendment To Increase Number Of Authorized Shares Was Defeated By Shareholders

The amendment to the Articles to increase the number of authorized shares of capital stock that the Company may issue from 100,000,000 to 200,000,000, of which all 200,000,000 shares shall be classified as Common Stock, received a majority of the votes cast. However, the Company's Amended and Restated Bylaws, as amended, and Nevada Private Corporations Law require the affirmative vote of a majority of the issued and outstanding shares of Common Stock as of the Record Date to approve such amendment to the Articles. Therefore, such amendment to the Articles was not approved.