Turbo Energy Announces Results of 2024 Annual General Meeting of Shareholders
June 26 2024 - 9:15AM
Turbo Energy, S.A. (NASDAQ:TURB) (“Turbo Energy”
or the “Company”), a leader in the field of photovoltaic energy
storage, today announced that the following proposals were approved
at its 2024 Annual General Meeting of Shareholders held on June 25,
2024 in Valencia, Spain:
- To elect seven persons to the Board of Directors of the
Company, each to serve until the next annual general meeting of
shareholders, or until such person’s successor is duly elected and
qualified or until his or her earlier death, resignation,
retirement, disqualification or removal;
- To ratify the appointment of TAAD, LLP as the Company’s
independent registered public accounting firm for the fiscal year
ending December 31, 2024;
- To assess and, where appropriate, approve the individual annual
accounts (balance sheet, profit and loss account, statement of
changes in equity for the year, cash flow statement and notes to
the annual accounts), as well as the management report, as required
under the Spanish law;
- To examine and, where appropriate, approve the individual
annual accounts’ proposed results allocation, as required under the
Spanish law;
- To examine and, where appropriate, approve the management of
the Company by the Board of Directors (the Board”) for the fiscal
year ended December 31, 2023, as required under the Spanish law;
- To examine and, where appropriate, approve the delegation to
the Board of the power to carry out capital increases, within the
limit provided for in Article 297.1.b of the Spanish Companies Act,
up to half of the share capital at the date of the authorization,
within the legal period of one year from the date of this Annual
Meeting, with the possibility of carrying out the increase on one
or more occasions and with the power to exclude the right of
subscription in whole or in part, in accordance with the provisions
of Article 506 of the Spanish Companies Act. This delegation to
increase the share capital excluding subscription rights may not
exceed twenty percent of the Company’s share capital.
- To examine and, where appropriate, provide approval to
authorize, as the case may be, the Board for a non-extendable
period of one year, pursuant to the provisions of Article 319 of
the Commercial Registry Regulations and 511 of the Spanish
Companies Act, and on one or more occasions, to issue bonds or
bonds convertible and/or exchangeable for shares of the Company,
including instruments of a similar nature, convertible or
exchangeable for shares of the Company, or which may directly or
indirectly entitle the Board to subscribe shares of the Company,
including warrants, with express powers to exclude pre-emptive
subscription rights in issues, with the Board being empowered to
set the conditions thereof, in accordance with the conversion bases
agreed by the shareholders’ meeting, and to proceed with the
capital increases required for their conversion, excluding the
shareholders’ pre-emptive rights, provided that when exercising the
delegation, the mandatory reports required by current legislation
are submitted, both by the Board itself and by the Independent
Auditor appointed if necessary. The maximum amount of the issues
authorized under said delegation may not exceed the global amount
of 60,000,000 Euros, nor may the individual issue in each case
require the simultaneous approval of a capital increase of more
than twenty percent of the total capital resulting therefrom.
Furthermore, in the event that the pre-emptive subscription right
is excluded from the issues, the maximum number of shares into
which the bonds issued or instruments of a similar nature may be
converted may not exceed twenty percent of the number of shares
comprising the share capital at the time of the authorization; and
- To approve the granting of powers for the execution and
notarization of resolutions; and to execute such public documents
as may be necessary for the due formalization and registration in
the Mercantile Registry of the resolutions adopted at this Annual
Meeting, including the correction or rectification, if necessary.
The complete text of the proposals and related
background are set forth in the proxy statement filed by the
Company with the U.S. Securities and Exchange Commission on June 4,
2024.
About Turbo Energy, S.A.
Headquartered in Valencia, Spain and listed on
The Nasdaq Capital Market under the ticker TURB, Turbo Energy is a
leader in photovoltaic energy storage technology managed through
Artificial Intelligence (“AI”). The Company's goal is to develop
innovative solutions that allow end consumers to harness the full
potential of solar energy and reduce their electricity costs. With
a combination of AI and advanced technology, Turbo Energy is paving
the way for a more sustainable and energy-efficient future. For
more information,
visit www.turbo-e.com.
Forward-Looking Statements
Statements in this press release about future
expectations, plans and prospects, as well as any other statements
regarding matters that are not historical facts, may constitute
"forward-looking statements" within the meaning of The Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are neither historical facts nor assurances of future
performance. Instead, they are based only on current beliefs,
expectations and assumptions regarding the future of the business
of the Company, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. The words "anticipate," "believe," "continue," "could,"
"estimate," "expect," "intend," "may," "plan," "potential,"
"predict," "project," "should," "target," "will," "would" and
similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. Because forward-looking statements relate
to the future, they are subject to inherent uncertainties, risks
and changes in circumstances that are difficult to predict and many
of which are outside of our control, including the risks described
in our registration statements and annual report under the heading
"Risk Factors" as filed with the Securities and Exchange
Commission. Actual results and financial condition may differ
materially from those indicated in the forward-looking statements.
Therefore, you should not rely on any of these forward-looking
statements. Any forward-looking statements contained in this press
release speak only as of the date hereof, and Turbo Energy, S.A.
specifically disclaims any obligation to update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
For more information, please contact:
Skyline Corporate Communications Group, LLC Scott Powell,
President 1177 Avenue of the Americas, 5th Floor New York, NY 10036
Office: (646) 893-5835 Email: info@skylineccg.com
Turbo Energy (NASDAQ:TURB)
Historical Stock Chart
From Nov 2024 to Dec 2024
Turbo Energy (NASDAQ:TURB)
Historical Stock Chart
From Dec 2023 to Dec 2024